TID Number 11

TIF 11

StatisticAmount
Base Value (2010)$4,678,000
Current Value (2016)$13,320,700
Original Property Taxes$88,844
Current Property Taxes (2016)$257,977
Property Tax Increment$169,133


TID Expiration Date: 2036

Tax Incremental District Number 11 contains 11.4 acres of land generally located at the southeast corner of South 84th Street and West Greenfield Avenue The District was formerly developed with the Milwaukee Gray Iron Foundry, Mykonos restaurant and several residential homes, all of which sustained heavy flood damage. In addition to utilizing TID financing, the City received a Community Development Block Grant - Emergency Assistance allocation to assist redevelopment and avoid future damage. Substantial stormwater prevention infrastructure was installed to lay the groundwork for future investment.

Hampton Inn and Suites

The City commenced redevelopment of the District with a hotel with banquet facilities, which opened in 2015. Future redevelopment plans for the District include 207 market-rate apartments within two buildings that share a common courtyard with high-end amenities.

Element 84