TIF District #15

TID 15


Type:                                               Rehabilitation/Conservation 

Created:                                          2021

Expenditure Period End:                 2043

Termination Date:                            2048



The City of Ladysmith, Wisconsin created Tax Incremental District (TID) #15 in 2021 as a mechanism to eliminate and prevent the spread of blighted, deteriorated or deteriorating areas and to redevelop properties within the boundaries of TID #15. TID #15 was established as a Rehabilitation/Conservation District. The City intends to remove or assist with the rehabilitation of buildings and improvements where necessary and to construct a series of public capital improvement projects that will eliminate blight, promote redevelopment, increase tax base and create employment opportunities, to serve as a catalyst for the redevelopment of properties in Ladysmith’s central business district.


TID #15 will have an expenditure period of 22 years (2021-2043) and a maximum life of 27 years (2021-2048). The area within TID #15 has been determined by the City to be part of an urban renewal project where the City intends to complete rehabilitation / conservation work to remove or rehabilitate buildings and improvements that are obsolete or blighted, and to install public improvements to carry out the objectives of urban renewal. The principal structures within the district have been vacant and underutilized for many years. As the structures are in a condition of dilapidation and obsolescence, it has caused a negative impact on surrounding properties.


Due to costs associated with the redevelopment of obsolete buildings and necessary infrastructure improvements, the City has determined that private redevelopment is not likely to occur in the area and that it will be necessary to invest tax incremental financing funds to offset a portion of the extraordinary development costs to make private redevelopment in the district economically feasible.


Activities and improvements planned through TID #15 are and will be related to improvements necessary for the objectives of urban renewal, blight elimination, and redevelopment of properties in this district and to encourage ancillary private investment. Project costs will be related directly to eliminating blight, installing public projects for urban renewal and encouraging commercial, residential, mixed-use, and light-industrial redevelopment. Activities and improvements are likely to significantly enhance the value of the real property in TID #15 as designated in this Project Plan and in the City overall.


The most recent project plan/amendment for TID 15 can be found below.