APPLETON, WI (WTAQ) – Two new Tax Incremental Financing Districts could soon be coming to Appleton.
The common council is expected to vote on the project plans for TIF #11 and TIF #12 Wednesday night.
Communications Coordinator Chad Doran explains the purpose of TIF #11, which includes roughly 60 acres in the bluff site area.
“Some redevelopment opportunities for some of the buildings on the east side of downtown, the Zuelke building and some others, to preserve the historic nature of these buildings that have become Appleton landmarks and kind of downtown icons.”
Doran says TIF #12 covers 23 acres in the city’s central business district.
“It provides incentives for revitalizing some of those historic buildings kind of on the west end of downtown.”
According to Doran, there is a difference between the land that would be incorporated in these TIFs.
“TIF #11 includes a little bit more open space, some more redevelopable land than TIF #12 has, so there’s a little bit of a difference in the way they’re structured.”
Doran explains the reason for considering the TIFs.
“It will be a big benefit to the downtown, kind of revitalizing some of the more historic, older buildings in downtown, and provide some incentives for developers to come in and kind of bring new life to downtown as well.”
Doran notes TIF #11 spans from Drew Street on the east to a bit past Superior Street on the west, bordering Washington Street to the north and Water Street to the south.
He says TIF #12’s boundaries are Franklin Street on the north, Walnut Street on the east, Lawrence Street on the south, and Story Street on the west.
Doran notes nothing is set in stone as city officials are still looking into specific project ideas.
If the council approves the project plans, Doran says it will still require a green light from the Joint Review Board, which is scheduled to vote on the matter August 9.
