News Flash

Village News

Posted on: September 6, 2019

Celebrating the Retirement of Tax Increment Districts #4 & #5

Presentation Check Ceremony

On Tuesday, September 3, the Village Board of Menomonee Falls heard a presentation on the retirements of Tax Increment Districts (TID) #4 and #5. Village Manager Mark Fitzgerald presented an overview to Trustees Randy Van Alstyne, Katie Kress, Jeremy Walz, Paul Tadda, Tim Newman, Steve Taggart, and Village President Dave Glasgow.

TID #4, generally located east of Appleton Avenue and expanding North and South of Good Hope Road, was created in 1996 with a base value of $3 million. An amendment in 2002 increased the base to $14 million, and will be finally retired with a current 2018 value of $111 million. TID #4 includes developments such as the Woodland Prime office park, North Hills medical offices, senior housing, landscape and streetscape improvements, and created 2,400 jobs! Froedtert & Medical College of Wisconsin, the second largest employer in the Village, is located here. TID #4 closed with $1,940,000 cash distributed to the Village, School District, WCTC, and Waukesha County, and generated $97.4 million in added value to those taxing jurisdictions.

TID #5, generally located at Main Street and Old Orchard Road, created the industrial development known as Westbrook Corporate Center in 1999 with a base value of $6 million. Amendments in 2000 and 2001 increased the base value to $17, and will finally be retired three years early at a value of $131 million. TID #5 includes developments such as Actuant Corporation headquarters, Briggs & Stratton, Arandell, Froedtert & Medical College of Wisconsin, ER Wagner, and created 1,900 jobs! TID #5 closed with $1,825,000 cash and generated $114.4 million in added value to the four taxing jurisdictions.

After concluding the TID retirement overview, School Board President Faith VanderHorst, School Board Treasurer/Finance Chair Mark Nadolski, and School Superintendent Corey Golla presented plans to reinvest in community assets with the funds generated from the closure of the two districts. Reinvestment plans for the School District of Menomonee Falls include improvements to outdoor athletic facilities such as lights and new bleachers for the high school football stadium, elementary playground replacements and additions (including handicapped accessible components), and upgrades to elementary libraries.

The Village of Menomonee Falls presented a ceremonial check in the amount of $2,165,981 to the School District of Menomonee Falls to celebrate the successful retirement of the development districts and successful ongoing partnership.

Facebook Twitter Email

Other News in Village News

OFV halloween

Halloween Family Fun Nights

Posted on: September 17, 2019
The Fall 2019 Current Newsletter Notify Me Image

The Current Newsletter

Posted on: September 4, 2019
recycling events

Electronic & Appliance Recycling Events

Posted on: August 20, 2019

FREE Mulch!

Posted on: May 30, 2019

Farmers' Market

Posted on: May 7, 2019

@MenoFallsPolice On Twitter

Posted on: January 17, 2019

Pay Village Utilities Online

Posted on: January 30, 2018
Safest City US 2019

Menomonee Falls Safest City Ranking

Posted on: April 11, 2019