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
28°
H 28° L 28°
Cloudy | 9MPH

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

» Oak Creek wrestlng team overwhelms Franklin, 50-18 12/18

» Westbound I-94 near Miller Park to close for 31 hours beginning Friday night 12/18

» Franklin to negotiate terms of West St. Martins Road repair, ownership with Milwaukee County 12/17

» Developers propose three apartment projects in Cudahy 12/11

» Oak Creek has plans for development on lakefront after cleanup 12/10

» Oak Creek accepts ownership of former EPEC, Du Pont lakefront land 12/10

» Menomonee Falls boys get defensive in beating Franklin, 48-30 12/9

» Homeward bound: Victory of the Lamb, Kayla's Krew move closer to making new facilities a reality 12/9

» Oak Creek listens to proposals for new fitness center 12/9

» Franklin man faces arson charge for allegedly starting apartment fire 12/8

» Select Hales Corners Library services on hold during carpet project 12/8

» Tailgate 'n skate with Santa in Hales Corners 12/8

» No new Chapter 220 seats identified in OCFSD for 2015-16 12/4

» Arson suspect of Franklin apartment complex fire taken into custody 12/3

» Protest stalls Franklin apartment plan 12/2

» Fire at Franklin apartment building under investigation 12/1

» In more schools, going to class means heading to the woods 11/26

» Franklin Historical Society plans two old-fashioned Christmas events over two weekends 11/26

» Public workshop welcomes input for Lake Vista redevelopment 11/26

» Mom gets 7 years for child porn between herself and toddler son 11/25

» Have a 'Dickens of a Christmas' in Greendale on December 5 11/24

» Wrong-way driver turns himself in after I-794 crash Updated:  11/22

» Off-duty Milwaukee police officer pepper-sprayed by fleeing suspect 11/22

» State champion Oak Creek girls hoops team opens with rout of Horlick 11/21

» Video: Franklin faces conflicting views on new developments 11/21

View All Posts Got a tip? Welcome rss

Advertisement

Deal Watch - Milwaukee

Milwaukee's Best Discounts & Deals

Advertisement

Local Business Directory

CONNECT