Green Bay advances cash infusion headed toward affordable housing

The City of Green Bay could direct millions of additional dollars toward the development of more housing working families can afford.

The City`s Joint Review Board and Redevelopment Authority both on Aug. 12 approved an affordable housing extension resolutions to keep the I-43 Business Park tax incremental financing district open for an additional year. The action requires City Council approval before it can go into effect.

The TIF district was created in 2005 to pay to install infrastructure and utilities in what started as an industrial park and became a more general business park with a variety of uses. The infrastructure installed in the area east of Interstate 43 helped draw a variety of development that includes Aurora BayCare Medical Center, a Procter & Gamble distribution center and Marcus Green Bay East Cinema...

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Leo’s notes: Green Bay is showing how smart local policy can turn economic growth into real housing solutions. By extending the I-43 Business Park TIF for one more year, the city stands to direct $3.4 million into its Affordable Housing Fund — more than double what the fund has collected in its first four years. That money could seed hundreds of new units at prices working families can actually afford. This decision is a reminder that cities can use the tools they already have to make housing more attainable. The key now will be ensuring those funds are deployed quickly, strategically, and in ways that create lasting affordability for Green Bay residents.