TIF District #13

TID 13

 

Type:                                               Mixed Use

Created:                                          2021

Expenditure Period End:                 2036

Termination Date:                            2041

 

Purpose:

The City of Ladysmith, Wisconsin created Tax Incremental District (TID) #13 in 2021 as a mechanism to stimulate new private investment, redevelopment, and economic development within the boundaries of TID #13. TID #13 was established as a Mixed-Use District. Growth within the District is anticipated to be a mix of commercial including health care, professional services, and mixed-use development.

 

The City intends to construct a series of public capital improvement projects that will improve public infrastructure within TID #13 and will serve as a catalyst to stimulate and facilitate growth predominately in assessed valuation of properties north of the Flambeau River, west of State Highway 27, along College Avenue and Port Arthur Road.

 

TID #13 has an expenditure period of 15 years (2021-2036) and a maximum life of 20 years (2021-2041). TID #13 may be extended three addition years (until 2044), however, expenditures remain limited to the first 15 years of designation (Wis. Stat § 66.1105(7)(am)1, 2, and 3). Activities and improvements are and will be related to commercial, industrial, and mixed-use land uses or related to public improvements that benefit and/or encourage private investment. Activities and improvements are likely to encourage ancillary private investment. Activities and improvements are likely to significantly enhance the value of the other real property in TID #13 as designated in the Project Plan and in the City overall.

 
The most recent project plan/amendment for TID 13 can be found below.