Tax Incremental Financing
Tax Increment Financing (TIF) is the principle economic tool, approved by the State of Wisconsin, that communities use to stimulate development/redevelopment. TIF funds originate from the tax money generated from an improvement or development greater than the tax generated by the site before the development. This tax increment money is then allocated to the City for its use in making infrastructure improvements in the Tax Increment District (TID) during the life of the District. At the end of the TID term, all of the taxes are again paid to the regular taxing bodies but at a much higher assessed valuation than would have been possible without the TID.
The City of La Crosse has established 16 Tax Incremental Districts, of which, 13 districts are currently open. In recent years TIF has leveraged such developments as Kwik Trip expansions, Gundersen expansions, Logistic Health I, II, & III, downtown parking ramps, the Airport Industrial Park and Terminal, International Business Park, as well as Downtown and Neighborhood Revitalization projects.
Listing files in 'Tax Incremental Financing'
Created in 1992 this TID assisted the City in the renovation of the City-owned Pump House Regional Arts Center. Other improvements included streetscaping along Front and King Streets. Additional redevelopment included the restoration of the Mike’s Building Supply building which was extensively remodeled into Piggy’s Restaurant. A new business, “The Wine Guyz”, opened in 2006 in the Piggy’s Building. The “LIPCO” building added tax base to this area as a joint project with the City, Xcel Energy and the La Crosse Area Development Corporation. Positive increment from this TID is also being used to help retire TID 6.
TID 6 was created in 1994 and overlapped with TID 1 and was created to further stimulate redevelopment efforts in the La Crosse Historic Central Business District. This revenue producing TID has provided additional downtown revitalization projects, resulting in the 2002 Great American Main Street Award from the National Trust for Historic Preservation, Main Street Center.
TID 7 was created to foster redevelopment in and around the Amtrak Depot. This was the City’s first neighborhood revitalization TID and it encompasses 40 acres. The renovation of the decaying Canadian Pacific Rail Depot has helped attract several new businesses to the Depot. The TID was amended in 2009 to foster the expansion of Fowler & Hammer’s office adding tax base and several new jobs.
This TID was created to assist DuraTech, a local manufacturer with a building expansion/job creation/retention project, and included one other vacant 8 acre site. Both the DuraTech project and the development of a portion of the vacant site have been completed. The proceeds from this TID are being used to assist debt retirement in TID 6.
Created in 1999 this 65 acre TID's purpose was to provide the infrastructure for the International Business Park. Just over half of the lots in the Park are sold and prominent businesses including Decker Design, Stansfield Vending, and River States Truck & Trailer, among others, make this Park successful.
This is a joint project between the City and La Crosse County in an effort to redevelop the former Holiday Inn (Park Plaza Area). This site has excellent access on U. S. Highways 14/61 and is a west gateway to the City and County. Adjacent to the City’s Pettibone Park along the Mississippi river, this site has great redevelopment potential. Redevelopment plans are underway.
Created to stimulate redevelopment in the area near where U. S. Highway 14/61 enters the southside of downtown, this TID was created in 2004, and overlaps TID 5. A multitude of redevelopment projects have occurred including: Riverside Center I, II, and III, New Parking Ramp, pedestrian alley, extension of the riverwalk, a boat landing for excursion boats, historic renovation of the Rodolf Building at the corner of 3rd and Main Streets, an addition to the La Crosse Center Parking Ramp, and Grand River Station—the City’s Transit Center that includes retail and 90 apartments.
Created in 2005 this 20 acre site once housed a mix of mini warehouses, a vacant used car lot and building, a former lumber yard, etc. Redevelopment of this property now includes a grocery store, commercial center, hotel, condominiums and office buildings. Flood protection and a bicycle pedestrian trail have also been implemented. In 2014, the City of La Crosse adopted a Master Redevelopment Plan for the Riverside North Site and the City is actively implementing this plan.
In 2006 this TID was created for Kwik Trip to expand their commissary and add over 100 employees. Taking advantage of the recently revised Wisconsin TIF statues allowing for mixed use TIDs, this TID also includes a large residential property. In 2009 this TID boundary was expanded to facilitate Kwik Trip’s bakery expansion, creating 100 more new jobs, and in 2012 the TID Project Plan was amended to facilitate Kwik Trip's expansion of the Dairy Facility, Warehouse, and Bakery. Kwik Trip estimates that the company will invest $42 million in new expansions and upgrades between 2012-2014.
Also created in 2006, this TID includes the entire Gundersen Health System La Crosse Campus, as well as a portion of the Powell-Poage Park, Hamilton School Neighborhood. As a mixed use TID, past and future projects include a parking ramp, hotel, clinic improvements, and replacement of 100 housing units with newly constructed homes over the life of the TID.
In 2013, this mixed-use TID was created to produce 100 new employees as the result of a $15,000,000 industrial expansion by Chart Chemical, Inc. This TID includes several potential redevelopment areas along Mormon Coulee's commercial strip, as well as targeted locations in two residential neighborhoods.
The Trane Plant 6 facility was cleared during the summer of 2010 and soil remediation was completed in early 2011. The goal is to return the property to the private real estate development community for mixed use development.
The goal of TID 17 is to assist with the redevelopment and revitalization of the downtown area through various projects. The primary impetus for TID 17 is the new construction of a parking structure in the north downtown area, driven by the redevelopment of Lot C and construction of the Charmant, as well as other redevelopment projects in the works.