TIF District #11

TID 11

 

Type:                                              Mixed-Use

Created:                                         2011

Expenditure Period End:                2026

Termination Date:                           2031

 

Purpose:

TID #11 was originally created in 2011 as a mixed-use district under Wis. Stat § 66.1105. The 15-year expenditure period is through 2026. The maximum life of TID #11 is 20-years and must terminate no later than 2031. The district encompasses the Ladysmith Nursing Home property located north of U.S. Highway 8.

 

TID #11 funds have been identified for site improvements and construction of a series of public capital improvement projects to encourage redevelopment, new development, an increase in tax base and to create employment opportunities within Ladysmith.

 

TID #11 was amended previously in 2012 and 2013. The 2012 Project Plan Amendment added projects to be constructed outside of the district and to allow TID #11 to be a donor district to TID #8, with allocations up to $14,107,452. The 2013 Project Plan Amendment added projects to be constructed outside of the district and to allow TID #11 to be a donor district to TID #5, with allocations up to $3,055,083. TID #11 will remain a donor district, which will continue to allow positive tax increments to flow from this District, TID #11 (the “Donor” district) to TID #5 and TID #8 (the “Recipient” districts).

 

TID #11’s 2021 Project Plan Amendment supplemented the original Project Plan and the Project Plan Amendments completed in 2012 and 2013 allowing positive tax increments to flow from TID #11 (the “Donor” district) to TIDs #12, #14, #15, and #16 (“Recipient” districts). TID #12 was established as a Blighted District. TID #14 was established as a Mixed- Use TID with project costs to create, provide or rehabilitate low-cost housing. TID #15 and TID #16 were established as Rehabilitation/Conservation Districts.

The most recent project plan amendment for TID 11 can be found below.