|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 storm water prevention infrastructure was installed to lay the groundwork for future investment.
The City commenced redevelopment of the District with a hotel with banquet facilities, which opened in 2015. Element 84, a mixed-use development with 203 residential units, began leasing in 2020 and maintains a 98% or higher occupancy rate.