Town of Sheboygan creates 500-acre TID
Town of Sheboygan, WI – The Town of Sheboygan in Sheboygan County, Wisconsin has created its first Tax Incremental District (TID), a progressive stance on economic development as there are only 22 township TID’s in Wisconsin’s history. The Town of Sheboygan TID covers 509 acres straddling the intersection of Interstate 43 and State Highway 42.
“The Town of Sheboygan is excited to provide this tool to encourage development,” stated Dan Hein, Town of Sheboygan Chair. “The Town has a lot of available land, low tax rate, access to water and sewer, and sits at the intersection of an Interstate and four-lane state highway. We are willing to talk to business owners and investors to develop this area. The Town is now able to provide financial incentives, infrastructure enhancements, and even land in return for a win-win development plan.”
The Town plans to use the TID to encourage responsible, aggressive growth of this key corridor. Specific investments the Town of Sheboygan would like to see include, but are not limited to:
- retail
- recreational amenities
- hotels & restaurants
- office and mixed-use properties
- condominiums and apartments
- single-family residential
Sheboygan County Economic Development Corporation’s, Executive Director, Dr. Joseph Sheehan stated, “It is exciting to see a township create the most powerful incentive tool available to local communities. The TID creation comes a few years after our joint retail study in which we found Sheboygan County has a $1 Billion annual retail opportunity.”
Historically townships in Wisconsin could not gain access to this tool frequently used by Cities and Villages. Townships in Wisconsin can create a TID if they meet the following criteria:
- Have an Equalized Value at least $500,000,000
- Have a population of at least 3,500
- Have or provide sewer service before any improvements
Township Website: www.townofsheboygan.org
