Slinger prepares to create economic development area
Public invited to give input on $8M in improvements

By JOE VANDELAARSCHOT - Daily News

June 21, 2015

SLINGER - Residential, commercial and industrial development should receive a boost with the creation of an economic development zone in Slinger.

Village officials have agreed to create Tax Incremental Financing district 4 and hold a public hearing on the plan July 15. The hope is the development will create jobs and increase property taxes.

The village would provide infrastructure such as sewer, water and roads to draw businesses to the area and, in turn, generate more property tax revenue.

“The type of district being proposed is a mixed-use district,” Village President Russ Brandt said. “Based upon the land area to be included, greater than 59 percent of the land area would be suitable for commercial and industrial use. State law says we can create residential development on only 30-35 percent of the land.”

The district would cover 144 acres northeast of the intersection of highways 41 and 60. About 43 acres, or 29 percent, would be designated for residential development.

It will include portions of TIF 3, which will be closed later this year, Village Treasurer Margaret Wilber said.

“TIF 3 must be closed prior to the creation of the new district because the village would not comply with state statute,” she said.

Brandt said one developer wants to complete a housing project in the village, but needs financial help.

“That area would be in the new district so additional housing can be completed,” Brandt said. “Some projects need a financial boost. A new TIF district could provide that.”

Brandt said some property in the district is owned by the Slinger School District and it will have to decide what to do with the land.

“They need to make a decision because that’s prime property for development,” Brandt said. “The Department of Transportation has plans to do a major reconstruction of the bridge at highways 60 and 41. It could eliminate access for the School District’s property. They need to decide to be included in DOT construction plans.”

According to a report prepared by Ehlers and Associates, about $8 million will need to be spent on TIF district improvement to allow development. That would include the installation of infrastructure. Development incentives of $2.7 million are also included, along with $50,000 for planning for development of a specific section of the district. The costs will be either assessed directly back to the benefitting properties or paid directly by developers.

Possibilities for the TIF include:

■ Area A, 24 residential units at $100,000 per unit.

■ Area C, 88 residential (based on developer proposal) units at $100,000 per unit.

■ Area F, commercial 17.97 acres at $500,000 per acre.

■ Area G, H, I, commercial 14.69 acres at $300,000 per acre.

■ Area J, manufacturing 12.87 (half of site) acres at $400,000 per acre.

■ Area K, manufacturing 25.35 acres at $350,000 per acre.

■ Area K, residential 40 acres (3 units per acre) at $600,000 per acre Potential development value of the proposed district is about $62 million.

The public hearing is 7:30 a.m. July 15 at Slinger Village Hall.

Reach reporter Joe VanDeLaarschot at