Using TIF to Promote Healthy Communities
Nov. 26, 2014•0 likes•3,815 views
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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.
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Using TIF to Promote Healthy Communities
- 1. Using TIF to Promote Healthy Communities WAPA Conference Presentation June 13, 2013
- 2. TIF History
- 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. 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. 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. Applications: Healthy Communities Shorewood Hills Marshall Court
- 7. Applications: Healthy Communities Shorewood Hills Marshall Court Before After
- 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. 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. 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. Applications: Healthy Communities Concept: Town TIF for Farmland Preservation
- 12. Applications: Healthy Communities • Town Cooperative Boundary TID • Multi-Jurisdictional TID
- 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.