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Using TIF to Promote Healthy Communities

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Using TIF to Promote Healthy Communities

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This presentation provides a history of tax incremental financing in Wisconsin, trends in its use, recent changes and best practices in using TIF to promote development that can lead to healthier communities.

This presentation provides a history of tax incremental financing in Wisconsin, trends in its use, recent changes and best practices in using TIF to promote development that can lead to healthier communities.

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Using TIF to Promote Healthy Communities

  1. 1. Using TIF to Promote Healthy Communities WAPA Conference Presentation June 13, 2013
  2. 2. TIF History
  3. 3. Past & Current Use of TIF TID Type # Active % TIDs pre-10/1/95 213 18.7% Blight 268 23.5% Rehab/Cons 101 8.9% Industrial post ‘95 193 16.9% Industrial post ’04 77 6.8% Mixed Use (‘04) 203 17.8% Environmental 16 1.4% Town Ag 3 0.3% Total 1,074 Severely 9 0.8% Distressed Distressed 56 4.9% 1995 – 835 TIDS Created, 408 were still active
  4. 4. Recent Changes • Sharing Revenue Between Districts • ½ Mile Radius • 1 Year Extension – Fund Low-Cost Housing • Town TIF – TAF • Town TIF – Cooperative Boundary • Multi-Jurisdictional TID
  5. 5. Applications: Healthy Communities Prairie du Chien TID #5 Workforce Housing – transfer funds from ind TID to ind TID for low-cost housing – City is developer – energy star homes – bike connection to high school High School Bike Trail Universial Forest Products 100 Emp. 37 Single Family Lots
  6. 6. Applications: Healthy Communities Shorewood Hills Marshall Court
  7. 7. Applications: Healthy Communities Shorewood Hills Marshall Court Before After
  8. 8. Applications: Healthy Communities Cambridge Vacant Melster Candy Property • “Hole in the donut along Koshkonong Creek • Senior housing redevelopment proposal • No bridge connection to downtown - creates a divided community from a pedestrian perspective • No community connections to regional bike trails
  9. 9. Applications: Healthy Communities Cambridge • TID driven by redevelopment of Melster Candy site • Connect site & west side with downtown • Connect regional bike trails Connection to Glacial Drumlin Trail Safe bike crossings of Hwys 12 & 18 • ½ mile radius Existing Cam-Rock Trail
  10. 10. Applications: Healthy Communities Monona • Housing stock – 1950’s; not meeting needs of modern households • Losing residents to communities w/ newer homes • TID #3 closing – generating $120,000 • Kept TID open 1 year – revenue used to fund Renew Monona
  11. 11. Applications: Healthy Communities Concept: Town TIF for Farmland Preservation
  12. 12. Applications: Healthy Communities • Town Cooperative Boundary TID • Multi-Jurisdictional TID
  13. 13. Questions? Gary Becker, CEcD Vierbicher 999 Fourier Dr., Suite 201 Madison, WI 53717 (608) 821-3941 gbec@vierbicher.com www.vierbicher.com

Editor's Notes

  • Recent economic development plan found that a shortage of affordable housing was a significant issue for most major employers in Prairie du Chien. City wanted to find a way to address this issue. Transfer of funds from TID #6 (Cabela’s) to TID #5 – both industrial TIDs. Recent change to TID law restricts how funds can be transferred between TIDs, allows exception for low-cost housing and environmental remediation. City decided to use surplus TIF funds from Cabela’s TID to acquire land in TID #5 to develop a 37 lot subdivision and install a street and bike trail to connect subdivision to the high school about 1/2 mile away. Covenants require all homes to be constructed to energy star standards. Lots will be sold for $15,000 - $25,000 – substantially below the market and less than the cost of development.

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