Hales Corners - The Committee of the Whole voted Monday to refinance a faltering special tax district on the west side of Highway 100.
The district was established to give the developer of the Hales Corners Shopping Plaza a financial incentive to remodel in 2008. Tax-incremental financing allows debt taken on for a project to be repaid with the additional taxes generated by property after it has been improved.
The plaza projected a $3 million increase in value but due to low real estate prices, hasn't been able to repay the village.
The village has been losing money on the district and hopes to reduce debt payments by an annual $4,000 through refinancing at a lower interest rate. Although payments will be reduced, the village expects to continue to lose money on the district.
- Hales Corners police report: April 28, 2016 issue
- Rooftop patio added to proposed expansion of the Bosch
- Pen and ink drawings going on display in May at Boerner Botanical Gardens
- Festival Foods reveals detailed plans for former Kmart site on Highway 100 in Hales Corners (4)
- Greenfield News and Notes: April 21
- Hales Corners police report: April 21, 2016 issue
- Hales Corners Chamber of Commerce holding annual banquet April 28
- Bosch gets ready to make its move (4)
- Hales Corners deputy fire chief nominated for award
- Hales Corners police report: April 14, 2016 issue