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, 11 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.
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.
The goal of TID 17 is to assist with the redevelopment and revitalization of the downtown
areas 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
into Belle Square, as well as other redevelopment projects in the works.