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Joint Review Board Considering Plan to Renovate Boston Store At Southridge

The $2 million tax incremental finance district will be reviewed in September for consideration of approval.

The Joint Review Board will meet on September 21 to rieview and consider approving the of .

Board members include representatives from Village of Greendale, , Milwaukee County, Milwaukee Area Technical College and a citizen representative.

The board will meet at 9 a.m. at .

Understanding a TIF district

According to the Village a TIF district will not have negative impact on resident’s taxes. “The base taxes paid by the properties within the tax incremental financing(TIF) district to the Village of Greendale, the Greendale School District, Milwaukee County, and the Milwaukee Metropolitan Sewage District will be the same with or without the TIF. To further clarify, the base taxes paid by any property with the TIF district will be the same whether or not the TIF is implemented.”

TIF districts use future property taxes from the development to pay off loans needed to create the development. Property taxes from new developments are used solely to pay off the loan. Once the loan is covered, the development goes on the tax rolls and pays out to local schools, local government, county government, technical colleges and the state.

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