Cedarburg to host TIF talk

News Graphic Staff

Dec. 11, 2014

CEDARBURG The city of Cedarburg will host a discussion for residents on tax incremental financing. The event will be held at 6.30 p.m. Monday at City Hall, W63 N645 Washington Ave.

Topics will include what a TIF district does and when it is most effectively used. The discussion will be in an informal setting and provide many examples; questions will also be answered.

A joint review board recently approved a TIF district for the corner of Washington Avenue and Mill Street in downtown Cedarburg. In a TIF district, money that would have been paid in property taxes to the city, school district, county, state and technical college goes back to pay for the improvements in the district. They will still receive taxes on the current base value of the property, which is $245,400, but not on future developments.

The discussion will be led by Cedarburg Common Council members John Czarnecki and Pat Thome. Czarnecki is a commercial real estate broker with Commercial United. Thome has more than 30 years of professional business experience facilitating partnership agreements and possesses a strong financial management background.