The Town of Sheboygan in Sheboygan County, Wisconsin has created its first Tax Incremental District.
A TID (also known as a Tax Incremental Financing District or TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects.
The Town of Sheboygan actually plans to use the TID to encourage responsible, aggressive growth of this key corridor,the center of which is at the intersection of Interstate 43 and State Highway 42.
The TID will be specifically for retail, recreational amenities, hotels, restaurants, office and mixed use properties, and residential among many others.
Sheboygan County Economic Development Corporation Executive Director, Dr. Joseph Sheehan stated, “It is exciting to see a township create the most powerful incentive tool available to local communities. The TID creation comes a few years after our joint retail study in which we found Sheboygan County has a $1 Billion annual retail opportunity.”
Not only is it the Township’s first TID, it is also only the 22nd TID ever created by a township in the state.
Town of Sheboygan TID Map
