Tax Incremental Financing (TIF) is the most powerful economic development tool that Wisconsin municipalities have. It is a mechanism to fund development and redevelopment projects including public improvements surrounding projects. Traditionally, municipalities have used TIF to provide financial assistance to developers at the beginning of a development project. The municipality recovers those costs in later years from the increased property tax revenues generated by the project.
Today, Shorewood has four active Tax Increment Districts (TID). The first District was approved in 1995. TID #5 was created July 2014 for the Metro Market development by General Capital for a grocery store and mixed use development along Oakland Avenue. Below are each districts approved project plans.
Annual Financial Report Tax Increment Districts, 2015 (PDF) - approved at a joint Village Board and CDA meeting 2-17-2016