An overview of Village Tax Incremental Districts is listed below. If you are interested in learning more about Tax Incremental Financing, the following links may be helpful:
Video Center -Video 1-TIF Basics, Video 2-Roles and Responsibilities, Video 3-Creating a Tax Incremental District (TID), Video 4-TIF Resources
TID #1 Blue Mounds Road Area, created 9/22/1980, dissolved 6/1/1981. This TID was not certified by the State Department of Revenue. The Village started over referring to the proposed district as TID #2.
TID #2 Blue Mounds Road Area, created 6/22/1981, dissolved 1/1/1996. TID #2 facilitated the partial construction and improvement of Blue Mounds Road, Parkway Drive, Grundahl Park, Garfield Street, Well #4 Improvements, and Sheila Street. At the time it dissolved, it had contributed $2,725,582 toward public improvements and had returned an additional $378,654 to the overlying taxing districts.
TID #3 East Side Corridor, created 1/1/2004. TID #3 was used to make almost $6 million in road improvements for part of Springdale Street (formerly known as County ID). The expansion of the roadway, new light poles, stonework, and over 400 new trees are expected to be paid for and supported by new commercial developments occurring along the roadway and through the development of North Cape Commons. MAP. See Village Budgets and Audits under Departments and Services for financial information.
TID #4 – Karakahl & Walgreens, created on 1/1/2007 and closed April 2022. TID #4 contributed to the reconstruction of Springdale Street from Eighth Street to Perimeter Street and is intended to be used to encourage development on underutilized properties along Cox Drive and Perimeter Street. MAP. See Village Budgets and Audits under Departments and Services for financial information.
TID #5 – 144 parcels fronting primarily along Main, Front, and Lincoln Streets was created August 10, 2016. MAP. The purpose of TID #5 is to promote redevelopment within the TID #5 boundary by implementing a number of needed projects ranging from infrastructure improvements to promotion and development programs, as well as providing for potential cash grants to property owners, lessees, and land developers within the District, and encourage investment and revitalization in the Downtown Business District.