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
65°
H 65° L 52°
Cloudy | 3MPH

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

» The Rock announces July Fourth celebration plans 7/2

» Oak Creek-Franklin parent group pushes for larger school board membership 7/1

» Oak Creek baseball team raises $2,300 for autism aid, research 6/30

» Opportunistic Franklin baseball team surges past Oak Creek 6/30

» Video: Oak Creek-Franklin flips coin to determine task force chair; parents invited to apply Updated:  6/30

» Menomonee Falls' ace Weber returns and stymies Oak Creek, 6-2 6/29

» Greendale School District appoints new director of business services 6/29

» Franklin baseball team takes advantage of walks to upset Creek, 12-8 6/27

» #RisingForCharleston Service to support victims of church shooting, request stricter gun laws 6/26

» New, accessible features at Boerner Botanical Gardens open July 28 6/26

» Forest Park Middle School named school of distinction, merit 6/26

» Oak Creek-Franklin Superintendent Sara Burmeister retires 6/25

» Oak Creek-Franklin board forms new committee to deal with school boundaries debate Updated:  6/23

» Father, son rescued from cliff at Sheridan Park in Cudahy 6/23

» Omega Burger owners in Franklin charged for violating federal tax laws 6/23

» Franklin restaurant family charged with skimming cash from restaurants 6/23

» 2015 4th of July events in suburban Milwaukee 6/22

» 13,000 people without power in Milwaukee County 6/22

» Proposed changes to Oak Creek Water and Sewer Utility Commission rejected 6/22

» Hazardous weather to hit Milwaukee Co. 6/22

» 3-on-3 tourney set for Franklin on July 25 6/19

» Greendale student elected 2015 Badger Boys State Governor 6/19

» St. Francis to provide $9.9 million to help finance apartment project 6/19

» Upcoming Culver's fundraiser to benefit local woman with cancer 6/19

» Greendale Family 4th Fest begins July 2 6/18

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT    

Advertisement