NOW:53110:USA00949
http://widgets.journalinteractive.com/cache/JIResponseCacher.ashx?duration=5&url=http%3A%2F%2Fdata.wp.myweather.net%2FeWxII%2F%3Fdata%3D*USA00949
45°
H 45° L 45°
Clear | 5MPH

City moves closer to creating housing authority

Jan. 21, 2009

The Cudahy Community Development Authority this month authorized a $10,000 contract with former Kenosha Mayor John Antaramian to creating a housing authority.

CDA Executive Director Bruce Schuknecht said tax-incremental finance funds would cover the first phase of implementing a housing authority program. Antaramian will help the CDA obtain funding and execute its plans, Schuknecht said.

It is unknown what the second phase of the contract would entail and what the price tag would be.

The Common Council authorized TIF funds to be used beyond the limits of the TIF district in a unanimous vote earlier this month.

Mayor Ryan McCue said using TIF funds outside the TIF boundaries would increase the value of such property, creating more tax revenue for the city without having to wait for the TIF district to expire.

“It’s a win for the city,” he said.

Last year, after a pilot program in Kenosha turned out to be a success, the state Assembly approved a bill that allows municipalities to cover expenditures for projects in an area within a half-mile radius outside the boundaries of a TIF district.

Antaramian said the ability to collect money generated from the TIF district in Kenosha and spending it elsewhere was significant in terms of enhancing older neighborhoods. The money supported a loan program for homeowners in such neighborhoods.

A TIF district allows municipalities to borrow money for improvements to a blighted or environmentally damaged site. When a TIF district is created, the money borrowed is repaid with increased property taxes generated through development.

Property taxes are frozen at their initial level, while taxes on the increased value, or increment, are used to repay the debt.

Chantel Balzell can be reached at (262) 446-6602.

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Suburban News Roundup

E-mail Newsletter

Your link to the biggest stories in the suburbs delivered Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.

Community Watch

» YEA! Greendale student program seeks additional business partners 5/21

» Milwaukee County Historical Society to host Trimborn Heritage Weekend 5/20

» Local police assemble for seat belt enforcement 5/20

» Greendale Marching Band to be featured in Colder's commercial 5/20

» Department of Transportation to update local businesses about South 27th Street construction 5/19

» Oak Creek's historical society begins tour season on Memorial Day 5/18

» Oak Creek High School track now open to public Saturday mornings 5/18

» Company behind Franklin High School's new floor wins national awards for design 5/13

» Let us know about your Memorial Day event 5/13

» Initial Reaction Podcast: Massive overhaul of area conferences could be afoot 5/13

» Heart the City 5K/10K to raise awareness for area homeless 5/13

» Oak Creek Health Department to host anti-drug abuse presentation just for parents 5/12

» Winter's not through with us yet 5/12

» Caterpillar consolidating space, but no layoffs will result 5/11

» Root River Theatre Company presents "Speed-the-Plow" 5/11

» Wauwatosa woman reportedly thwarted in attempt to rob dog grooming shop 5/10

» South Milwaukee Police ask for help locating missing siblings 5/2

» Investigation: Family behind collapsed Falls building has a history of neglecting properties Updated:  5/1

» Spring into Greendale event to be held May 9 4/30

» Public invited to create Georgie Porgie's next 'burger of the month' 4/30

» Greendale High School Marching Band earns spot in Macy's prestigious parade 4/29

» Greendale voters approve transfer of school district property to village for proposed vet memorial 4/28

» Franklin Police Department to host women's self-defense class 4/28

» Milwaukee Y extends summer day camps to county sports complex 4/28

» Early morning vandal trashes Southwood Glen Elementary School in Franklin 4/27

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT    

Most Popular