Description A tax increment financing (TIF) district in Wisconsin is a financing tool municipalities can use to promote economic development, revitalize blighted areas, and encourage investment in infrastructure.
There are four types of TIF districts:
1.
Blight Elimination: Focuses on removing blighted conditions and promoting redevelopment.
2.
Rehabilitation or Conservation: Aims at rehabilitating or conserving property to prevent it from becoming blighted.
3.
Industrial Development: Targets industrial development projects.
4.
Mixed-Use Development: Includes a combination of industrial, commercial, and residential projects.
The establishment, operation, and termination of TIF districts are governed by state statutes, particularly § 66.1105, Wis. Stats.
View Section
Decisionmakers The Plan Commission recommends adoption of a project plan for the TIF district following a public hearing. The Common Council makes the final decision upon recommendation of the TIF Joint Review Board.
Appeals The Common Council's decision can be appealed to the circuit court.
Amendment Once approved, the project plan for the district can be amended through the same public process.