Mukwonago considering TIF district to promote development

By Katherine Michalets - Freeman Staff

March 12, 2015

MUKWONAGO - In an effort to promote construction of mixed use and residential development of vacant and existing sites near the Main Street corridor, the village is considering creating a tax incremental financing district.

The district would be located south of the Mukwonago River on Highway ES. According to the TIF District No. 4 creation project plan, by using a tax incremental district, the village would become a “vested partner in all future developments within the district.”

No action was taken during Tuesday’s Plan Commission meeting on the preliminary review of an amendment to the comprehensive plan for potential TID No. 4, nor a preliminary review of its project plan.

The village of Mukwonago has purchased the Lynch’s Horter Chevrolet dealership site, 915 Main St. The village plans to assist in the dealership’s relocation to a site more viable for potential customers, according to the plan. The village wants to redevelop the former dealership site “to meet economic growth objectives, and to ultimately benefit the community,” according to the plan.

As part of the TIF district, the village would make public works upgrades, such as water system improvements and widening of Bay View Road.

On Dec. 31, the total equalized value of the village was $719,125,800. The estimated equalized base value for the TIF district would be $9,587,000, according to a memo.