There was unanimous approval by the Joint Review Board in West Bend this week as steps were taken to reorganize TIF Districts 4 and 6, which include the Walmart and Menards developments just south of Paradise Drive.
Members of the Joint Review Board include a representative from the West Bend School District, MPTC, Washington County, the City of West Bend and a member of the community.
The reorganization of the TIFs will save the city about $1 million a year in the coming years as the successful TIFs help struggling TIF Districts 5 and TIF 9 in the downtown.
“The idea behind the move is the very successful TIFs can help the financially-challenged TIFs,” said Mayor Kraig Sadownikow. “It’ll make a significant impact on the city budget in particular 2019 – through the mid to late 2020s with up to $1 million a year coming out of TIFs 4 and 6 and helping the downtown TIFs.”
The development of Meijer in the Menard’s TIF and the new headquarters for Delta Defense/USCCA development in the Walmart TIF are working to make both those TIFs financially successful.