Village approves new tax district
The Menomonee Falls Village Board has approved a proposed special tax district village’s southeast corner.
A TIF’s property taxes are typically allocated to local government entities to fund area infrastructure enhancements instead. The subsequent rise in tax revenue benefits these entities. Final TIF approval comes from a Joint Review Board comprising local taxing units. Village sources have indicated that the designated boundaries are Oak Lane in the northern and western directions, Woodale Drive on the southern side, and the eastern limit reaching the Village of Butler. Graphic design methods are often used when a governing body, institution, or organization wants to show updated maps.
Mark Fitzgerald, the Menomonee Falls Village Manager, was at a prior public hearing held at a Plan Commission meeting where he said:
He noted the project's focus on transforming a former Kohl’s Corporation office site and its sizable parking area into manufacturing facilities, emphasizing the adaptive reuse aspect of the development.
Fitzgerald subsequently mentioned the former Kohl's office structure and adjacent parking area are situated centrally within an industrial zone. He articulated the suggested Tax Increment Financing would facilitate the renovation of the office edifice and parking site. A Trustee named Paul Tadda raised inquiries, prompting Fitzgerald to elaborate that the impending development plan was spearheaded by a company based in Menomonee Falls. The company intends to preserve its current facility while expanding into the chosen new location.
A TIF’s property taxes are typically allocated to local government entities to fund area infrastructure enhancements instead. The subsequent rise in tax revenue benefits these entities. Final TIF approval comes from a Joint Review Board comprising local taxing units. Village sources have indicated that the designated boundaries are Oak Lane in the northern and western directions, Woodale Drive on the southern side, and the eastern limit reaching the Village of Butler. Graphic design methods are often used when a governing body, institution, or organization wants to show updated maps.
Mark Fitzgerald, the Menomonee Falls Village Manager, was at a prior public hearing held at a Plan Commission meeting where he said:
“This is a pretty small TIF district, it’s a small area south of Silver Spring that is for industrial redevelopment.”
He noted the project's focus on transforming a former Kohl’s Corporation office site and its sizable parking area into manufacturing facilities, emphasizing the adaptive reuse aspect of the development.
Fitzgerald subsequently mentioned the former Kohl's office structure and adjacent parking area are situated centrally within an industrial zone. He articulated the suggested Tax Increment Financing would facilitate the renovation of the office edifice and parking site. A Trustee named Paul Tadda raised inquiries, prompting Fitzgerald to elaborate that the impending development plan was spearheaded by a company based in Menomonee Falls. The company intends to preserve its current facility while expanding into the chosen new location.