Tax Incremental Financing
The Community Development Authority guides redevelopment in West Allis. Working with private developers, the Community Development Authority leverages local, state, and federal programs that promote urban regeneration to help remove blight and environmental contamination that impact redevelopment.
Tax Incremental Financing has proven to be one of the Community Development Authority's most powerful and successful economic revitalization tools.
How it Works
In a Tax Incremental Financing district, public investments are made to encourage growth and redevelopment in a given area. Tax Incremental Financing captures the increased property taxes generated from new development to pay off the projects. When the projects are paid off, the tax revenue goes back into the general tax fund.
Ultimately, Tax Incremental Financing helps areas facing development challenges grow, which creates a larger tax base for the city and reduces the tax burden on others.
Tax Incremental Financing Districts
Over the years, West Allis has successfully leveraged Tax Incremental Financing for a variety of transformative projects. In total, the City has created 19 Tax Incremental Financing Districts. Today, 13 remain open.
- TID Number 1 - 70th and Walker (Closed)
- TID Number 2 - Veteran's Park (Closed)
- TID Number 3 - Quad/Graphics (Closed)
- TID Number 4 - 113th and Greenfield (Closed)
- TID Number 5 - Six Points / Farmers Market
- TID Number 6 - 6520 West Becher Place
- TID Number 7 - Summit Place
- TID Number 8 - Wehr Steel (Closed)
- TID Number 9 - Pioneer Neighborhood (Closed)
- TID Number 10 - Yellow Freight
- TID Number 11 - 84th and Greenfield
- TID Number 12 - Teledyne
- TID Number 13 - Former Home Juice Area
- TID Number 14 - 68th and Mitchell
- TID Number 15 - The Market
- TID Number 16 - 70th and Washington
- TID Number 17 - Lincoln West Corridor
- TID Number 18 - Chr. Hansen Expansion
- TID Number 19 - 86th and National (PDF)