TIF Created after the fact to pay for a park City’s Resolution Flaunts State Law
The City of Milwaukee is testing the limits of Wisconsin’s Tax Increment
Financing (TIF) law by attempting to create a TIF district that
violates a key requirement.
...moreLocal governments can only create a TIF district (also called a “TID”) if they can demonstrate it will directly lead to private economic development. They are required to include their explanation in the resolution authorizing the TID. This is called the “but for” statement, as in “this private economic development would not occur but for the creation of a TID.”...
Ken Notes: The tone here is wrong. TIF is the only arrow in the cities quiver so communities get creative as to how it is used. What we need to do is recreate the legislation to more closely align with how it is actually used...
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- - Volume: 7 - WEEK: 41 Date: 10/10/2019 7:28:11 AM -