Encouraging Economic Development
The Village of Menomonee Falls Economic Development Master Fund (EDMF) is established to encourage development and increase the tax base of the Village Centre and the adjacent areas. Following the adoption of Tax Incremental District No. 9, the village designed the Economic Development Master Fund as a financing program with two separate components.
First, The Economic Development Master Fund program can provide loans to qualified projects with below market interest rates and extended maturities that are designed to encourage business development, while providing for the recapitalization and growth of the fund. The maximum loan amount is $40,000.
In addition, the Economic Development Master Fund program includes a second component that can offer a 50/50 matching grant for physical building and site improvements on qualified projects. That grant is reimbursable to the applicant following the completion of an approved project. The maximum grant amount is $20,000, and since its inception, the program has allocated approximately $200,000 in matching funds to qualified projects.
Among other eligibility criteria, the business or property owner applying to the Master Fund must be located or willing to locate within the boundary of Tax Incremental District No. 9. Please review the applications for more details.