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
18°
H 18° L -5°
Partly Cloudy | 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

» Man found dead in Cudahy fire still not identified 2/27

» Oak Creek's Hakes back in state wrestling semis for second time 2/27

» Southridge Mall announces Eddie Bauer addition 2/26

» Dr. Seuss' birthday celebrated at Oak Creek library for Family Fun Night 2/25

» Got stuff? The Clutter Coach is coming to Oak Creek to help 2/25

» Oscar's Frozen Custard to open new location in Franklin 2/24

» OCFSD considers more than $1 million in proposed capital improvements 2/24

» West Allis superintendent finalists hail from Shorewood, Greendale, MPS 2/23

» Tickets now on sale for Greendale High School's 'Guys and Dolls' spring musical 2/23

» Milwaukee County Transit expands bus service to Oak Creek 2/19

» Sikh Temple shooting examined in one-hour documentary Monday 2/19

» Polish Center of Wisconsin begins Friday night fish fry for Lenten season 2/19

» Colleen Perry named Educator of the Year by Greendale Chamber of Commerce 2/19

» Greendale's John Tharp seeks new job with West Allis-West Milwaukee Public Schools 2/18

» Four Greendale School Board candidates will vie for two seats in general election 2/17

» Four OCFSD school board candidates advance to April's general election 2/17

» Oak Creek District 3 candidates advance to April's general election 2/17

» Dental Associates named Business of the Year by South Suburban Chamber of Commerce 2/17

» 'Spite Fences' author to visit Whitnall Middle School students 2/17

» Boerner Botanical Gardens to host winter bird arboretum walk 2/17

» Candidate appointed to vacant Oak Creek-Franklin school board seat 2/16

» Proposed veterans memorial stands a fighting chance at Broad and Southway location 2/16

» Slow-developing Hampton hotel in Franklin now expected to open in spring 2/16

» The Rock Sports Complex commended by South Suburban Chamber of Commerce for its 'Pride in Premises' 2/16

» Oak Creek High School parent/teacher conferences scheduled March 4 2/13

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT