TID Number 5

TIF 5

StatisticAmount
Base Value (1994)$18,524,000
Current Value (2016)$41,354,200
Original Property Taxes$516,600
Current Property Taxes (2016)$1,137,737
Property Tax Increment$621,137


TID Expiration Date: 2027

Tax Incremental District Number Five consists of approximately 44 acres of land located in a four block long by two block wide corridor in the northeastern portion of West Allis commonly referred to as the "Six Point/Farmers Market" Neighborhood. The creation of the District was necessary to eliminate and prevent the spread of blight experienced in the years following the closing of the Allis-Chalmers manufacturing plant. Currently, there are three submitted development proposals putting forth opportunities to redevelop the area as mixed use residential and commercial.