Use of tax increment financing (TIF) lags in southeastern Wisconsin<= /title> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"place" downloadurl=3D"http://www.5iantlavalamp.com/"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"State"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"City" downloadurl=3D"http://www.5iamas-microsoft-com:office:smartt= ags"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceType"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceName"/>  <style>  </style>  </head> <body lang=3DEN-US link=3Dblue vlink=3Dpurple style=3D'tab-interval:.5in'> <div class=3DSection1> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> For more info= rmation: &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; For immediate release<o:p></o:p> <o:p> </o:p> Ryan Horton Researcher Public Policy Forum 414-276-8240 <a href=3D"mailto:rhorton@publicpolicyforum.org">rhort= on@publicpolicyforum.org</a> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> Use of tax increment financing (TI= F) lags<o:p></o:p> in southeastern Wisconsin<o:p></o:= p> <o:p> </o:p> Report shows cities of <st1:City w:st=3D"on">Milwaukee</st1:City>, = <st1:City w:st=3D"on">Racine</st1:City>, and <st1:City w:st=3D"on">Kenosha</st1:City>= lag behind suburban areas, rest of state, and <st1:City w:st=3D"on">Chicago</st= 1:City> and <st1:City w:st=3D"on"><st1:place w:st=3D"on">Minneapolis</st1:place></s= t1:City> in use of TIF to encourage development<o:p></o:p> <o:p> </o:p> <o:p> </o:p> MILWAUKEE, Wisconsin – February 4, 2005 – A Public Policy Forum Regional Report, “Keeping up with the neighbors,” describing tax increment financing (TIF) usage in southeastern Wisconsin, shows that even though TIFs are one of the most important factors in development decisions,= use of the tool lags in the region, particularly in the cities of Milwaukee, Racine, and Kenosha. <o:p> </o:p> Other major findings in the= report include: <o:p> </o:p> <ul style=3D'margin-top:0in' type=3Ddisc> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>City and <st1:PlaceType w:st=3D"on">county</st1:P= laceType> of <st1:PlaceName w:st=3D"on">Milwaukee</st1:PlaceName> use TIF less o= ften than <st1:City w:st=3D"on">Chicago</st1:City> or <st1:City w:st=3D"on"= ><st1:place w:st=3D"on">Minneapolis</st1:place></st1:City>;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF usage is lower in the cities of <st1:City w:s= t=3D"on">Milwaukee</st1:City>, <st1:City w:st=3D"on">Racine</st1:City>, or <st1:City w:st=3D"on"><st1= :place w:st=3D"on">Kenosha</st1:place></st1:City> than in their suburbs;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF usage in southeastern <st1:State w:st=3D"on">= <st1:place w:st=3D"on">Wisconsin</st1:place></st1:State> is lower than in rest of state;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF is used most widely in southeastern <st1:place w:st=3D"on"><st1:State w:st=3D"on">Wisconsin</st1:State></st1:place> by fast-growing municipalities that are small, rural, or have available agricultural land or a relatively small ax base.</li> </ul> <o:p>&nbs= p;</o:p> TIF diverts property tax pr= oceeds from the general tax rolls to specific geographic districts as a way to fund public infrastructure and developer incentives to spur economic development= . <o:p> </o:p> “Despite the history = of TIF underutilization in the region, its usage in the cities of <st1:City w:st= =3D"on">Milwaukee</st1:City>, <st1:City w:st=3D"on">Racine</st1:City>, and <st1:City w:st=3D"on"><st1:pla= ce w:st=3D"on">Kenosha</st1:place></st1:City> has increased faster since 2000= than in the rest of the region,” says Ryan Horton, Public Policy Forum researcher who wrote the report. “Though still trailing their more rural neighbors in TIF usage, the region’s core cities have made up some ground over the last sever= al years.” <o:p> </o:p> The original intent of TIF = was to provide assistance in redeveloping blighted urban areas that normally would= not be developed. Since <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st1:place></st1:State>’= s first TIF district in 1976, use of the tool has grown substantially. Indeed, 348 villages and cities in= 70 of the state’s 72 counties now have active TIFs. In just the past four years, the property value in TIF districts has grown 50% to $9.6 billion – $3.7 billion of which is in the seven counties of southeastern <st1:place w:st= =3D"on"><st1:State w:st=3D"on">Wisconsin</st1:State></st1:place>. <o:p> </o:p> There has been criticism of= TIF that its original intent has been watered down through usage in fast-growin= g, rural communities where development probably would have occurred even witho= ut TIF. In 2003, the <st1:place = w:st=3D"on">Wisconsin</st1:place> legislature passed several reforms primarily to update the law, but also to address such concerns. The re= sult, however, was an easing of restrictions not only on urban redevelopment, but= on development of agricultural lands as well. <o:p> </o:p> According to Horton, one of= the crucial questions raised by the report is how much, if any, of the city and the cou= nty of Milwaukee’s slow economic growth can be attributed to low TIF utilization? “You have = to wonder what the effect is when <st1:City w:st=3D"on">Chicago</st1:City> and= <st1:City w:st=3D"on"><st1:place w:st=3D"on">Minneapolis</st1:place></st1:City>, both= of which use TIF to a much greater extent, are experiencing much greater econo= mic growth,” he says. “Greater TIF utilization throughout southeast= ern <st1:State w:st=3D"on">Wisconsin</st1:State> may be needed to better compete with the = rest of <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st1:place></st1= :State> and neighboring states for quality development and jobs.” <o:p> </o:p> Between 1999 and 2003, the = report says southeastern <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</= st1:place></st1:State> lost 29,050 jobs, while the rest of the state had a gain of 19,816 jobs. <o:p> </o:p> Milwaukee-based Public Poli= cy Forum – which was established in 1913 as a local government watchdog –= ; is a nonpartisan, nonprofit organization dedicated to enhancing the effectiven= ess of government and the development of southeastern <st1:place w:st=3D"on"><s= t1:State w:st=3D"on">Wisconsin</st1:State></st1:place> through objective research of regional public policy issues. <o:p> </o:p> The Public Policy Forum is facilitating creation of a shared vision action plan for regional cooperati= on in southeastern <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st= 1:place></st1:State> based on research and analysis. During the next three years, the Forum will encourage the region to think and act in ways that promote its long-term economic and social health, including . . . &nbs= p; </span= > <ul style=3D'margin-top:0in' type=3Ddisc> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Developing a <st1:place w:st=3D"on">Southeastern Wisconsin</st1:place> Leadership Network;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Establishing priorities for regional action;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Making the case to citizens that regional coopera= tion is vital to our future;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Benchmarking progress toward the shared vision.</= li> </ul> -30- <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> </div> </body> </html> ------=_NextPart_01C55605.A3C74D20 Content-Location: file:///C:/50F412C5/TIFnewsrelease_files/header.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" <html xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office" xmlns:w=3D"urn:schemas-microsoft-com:office:word" xmlns:st1=3D"urn:schemas-microsoft-com:office:smarttags" xmlns=3D"http://www.w3.org/TR/REC-html40"> <head> <meta http-equiv=3DContent-Type content=3D"text/html; charset=3Dus-ascii"> <meta name=3DProgId content=3DWord.Document> <meta name=3DGenerator content=3D"Microsoft Word 11"> <meta name=3DOriginator content=3D"Microsoft Word 11"> <link id=3DMain-File rel=3DMain-File href=3D"../TIFnewsrelease.htm"> <![if IE]> <base href=3D"file:///C:\50F412C5\TIFnewsrelease_files\header.htm" id=3D"webarch_temp_base_tag"> <![endif]><o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"place" downloadurl=3D"http://www.5iantlavalamp.com/"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"State"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"City" downloadurl=3D"http://www.5iamas-microsoft-com:office:smartt= ags"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceType"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceName"/> </head> <body lang=3DEN-US link=3Dblue vlink=3Dpurple> <div style=3D'mso-element:footnote-separator' id=3Dfs> <![if !supportFootnotes]> <hr align=3Dleft size=3D1 width=3D"33%"> <![endif]> </div> <div style=3D'mso-element:footnote-continuation-separator' id=3Dfcs> <![if !supportFootnotes]> <hr align=3Dleft size=3D1> <![endif]> </div> <div style=3D'mso-element:endnote-separator' id=3Des> <![if !supportFootnotes]> <hr align=3Dleft size=3D1 width=3D"33%"> <![endif]> </div> <div style=3D'mso-element:endnote-continuation-separator' id=3Decs> <![if !supportFootnotes]> <hr align=3Dleft size=3D1> <![endif]> </div> <div style=3D'mso-element:header' id=3Deh1> <div style=3D'mso-element:frame;mso-element-wrap:around;mso-element-anchor-= vertical: paragraph;mso-element-anchor-horizontal:margin;mso-element-left:center; mso-element-top:.05pt;mso-height-rule:exactly'> <table cellspacing=3D0 cellpadding=3D0 hspace=3D0 vspace=3D0 align=3Dcenter> <tr> <td valign=3Dtop align=3Dleft style=3D'padding-top:0in;padding-right:0in; padding-bottom:0in;padding-left:0in'> <p class=3DMsoHeader style=3D'mso-element:frame;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal:margi= n; mso-element-left:center;mso-element-top:.05pt;mso-height-rule:exactly'><!= --[if supportFields]>PAGE= <![endif]--><o:p></o:p> </td> </tr> </table> </div> <o:p> </o:p> </div> <div style=3D'mso-element:header' id=3Dh1> <div style=3D'mso-element:frame;mso-element-wrap:around;mso-element-anchor-= vertical: paragraph;mso-element-anchor-horizontal:margin;mso-element-left:center; mso-element-top:.05pt;mso-height-rule:exactly'> <table cellspacing=3D0 cellpadding=3D0 hspace=3D0 vspace=3D0 align=3Dcenter> <tr> <td valign=3Dtop align=3Dleft style=3D'padding-top:0in;padding-right:0in; padding-bottom:0in;padding-left:0in'> <p class=3DMsoHeader style=3D'mso-element:frame;mso-element-wrap:around; 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MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_NextPart_01C55605.A3C74D20" This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Microsoft Internet Explorer. ------=_NextPart_01C55605.A3C74D20 Content-Location: file:///C:/50F412C5/TIFnewsrelease.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" Use of tax increment financing (TIF) lags in southeastern Wisconsin<= /title> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"place" downloadurl=3D"http://www.5iantlavalamp.com/"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"State"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"City" downloadurl=3D"http://www.5iamas-microsoft-com:office:smartt= ags"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceType"/> <o:SmartTagType namespaceuri=3D"urn:schemas-microsoft-com:office:smarttags" name=3D"PlaceName"/>  <style>  </style>  </head> <body lang=3DEN-US link=3Dblue vlink=3Dpurple style=3D'tab-interval:.5in'> <div class=3DSection1> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> <o:p> </= o:p> For more info= rmation: &= nbsp; &nbs= p; &= nbsp; &nbs= p; &= nbsp; For immediate release<o:p></o:p> <o:p> </o:p> Ryan Horton Researcher Public Policy Forum 414-276-8240 <a href=3D"mailto:rhorton@publicpolicyforum.org">rhort= on@publicpolicyforum.org</a> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> Use of tax increment financing (TI= F) lags<o:p></o:p> in southeastern Wisconsin<o:p></o:= p> <o:p> </o:p> Report shows cities of <st1:City w:st=3D"on">Milwaukee</st1:City>, = <st1:City w:st=3D"on">Racine</st1:City>, and <st1:City w:st=3D"on">Kenosha</st1:City>= lag behind suburban areas, rest of state, and <st1:City w:st=3D"on">Chicago</st= 1:City> and <st1:City w:st=3D"on"><st1:place w:st=3D"on">Minneapolis</st1:place></s= t1:City> in use of TIF to encourage development<o:p></o:p> <o:p> </o:p> <o:p> </o:p> MILWAUKEE, Wisconsin – February 4, 2005 – A Public Policy Forum Regional Report, “Keeping up with the neighbors,” describing tax increment financing (TIF) usage in southeastern Wisconsin, shows that even though TIFs are one of the most important factors in development decisions,= use of the tool lags in the region, particularly in the cities of Milwaukee, Racine, and Kenosha. <o:p> </o:p> Other major findings in the= report include: <o:p> </o:p> <ul style=3D'margin-top:0in' type=3Ddisc> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>City and <st1:PlaceType w:st=3D"on">county</st1:P= laceType> of <st1:PlaceName w:st=3D"on">Milwaukee</st1:PlaceName> use TIF less o= ften than <st1:City w:st=3D"on">Chicago</st1:City> or <st1:City w:st=3D"on"= ><st1:place w:st=3D"on">Minneapolis</st1:place></st1:City>;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF usage is lower in the cities of <st1:City w:s= t=3D"on">Milwaukee</st1:City>, <st1:City w:st=3D"on">Racine</st1:City>, or <st1:City w:st=3D"on"><st1= :place w:st=3D"on">Kenosha</st1:place></st1:City> than in their suburbs;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF usage in southeastern <st1:State w:st=3D"on">= <st1:place w:st=3D"on">Wisconsin</st1:place></st1:State> is lower than in rest of state;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l0 level1 lfo1; tab-stops:list .5in'>TIF is used most widely in southeastern <st1:place w:st=3D"on"><st1:State w:st=3D"on">Wisconsin</st1:State></st1:place> by fast-growing municipalities that are small, rural, or have available agricultural land or a relatively small ax base.</li> </ul> <o:p>&nbs= p;</o:p> TIF diverts property tax pr= oceeds from the general tax rolls to specific geographic districts as a way to fund public infrastructure and developer incentives to spur economic development= . <o:p> </o:p> “Despite the history = of TIF underutilization in the region, its usage in the cities of <st1:City w:st= =3D"on">Milwaukee</st1:City>, <st1:City w:st=3D"on">Racine</st1:City>, and <st1:City w:st=3D"on"><st1:pla= ce w:st=3D"on">Kenosha</st1:place></st1:City> has increased faster since 2000= than in the rest of the region,” says Ryan Horton, Public Policy Forum researcher who wrote the report. “Though still trailing their more rural neighbors in TIF usage, the region’s core cities have made up some ground over the last sever= al years.” <o:p> </o:p> The original intent of TIF = was to provide assistance in redeveloping blighted urban areas that normally would= not be developed. Since <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st1:place></st1:State>’= s first TIF district in 1976, use of the tool has grown substantially. Indeed, 348 villages and cities in= 70 of the state’s 72 counties now have active TIFs. In just the past four years, the property value in TIF districts has grown 50% to $9.6 billion – $3.7 billion of which is in the seven counties of southeastern <st1:place w:st= =3D"on"><st1:State w:st=3D"on">Wisconsin</st1:State></st1:place>. <o:p> </o:p> There has been criticism of= TIF that its original intent has been watered down through usage in fast-growin= g, rural communities where development probably would have occurred even witho= ut TIF. In 2003, the <st1:place = w:st=3D"on">Wisconsin</st1:place> legislature passed several reforms primarily to update the law, but also to address such concerns. The re= sult, however, was an easing of restrictions not only on urban redevelopment, but= on development of agricultural lands as well. <o:p> </o:p> According to Horton, one of= the crucial questions raised by the report is how much, if any, of the city and the cou= nty of Milwaukee’s slow economic growth can be attributed to low TIF utilization? “You have = to wonder what the effect is when <st1:City w:st=3D"on">Chicago</st1:City> and= <st1:City w:st=3D"on"><st1:place w:st=3D"on">Minneapolis</st1:place></st1:City>, both= of which use TIF to a much greater extent, are experiencing much greater econo= mic growth,” he says. “Greater TIF utilization throughout southeast= ern <st1:State w:st=3D"on">Wisconsin</st1:State> may be needed to better compete with the = rest of <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st1:place></st1= :State> and neighboring states for quality development and jobs.” <o:p> </o:p> Between 1999 and 2003, the = report says southeastern <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</= st1:place></st1:State> lost 29,050 jobs, while the rest of the state had a gain of 19,816 jobs. <o:p> </o:p> Milwaukee-based Public Poli= cy Forum – which was established in 1913 as a local government watchdog –= ; is a nonpartisan, nonprofit organization dedicated to enhancing the effectiven= ess of government and the development of southeastern <st1:place w:st=3D"on"><s= t1:State w:st=3D"on">Wisconsin</st1:State></st1:place> through objective research of regional public policy issues. <o:p> </o:p> The Public Policy Forum is facilitating creation of a shared vision action plan for regional cooperati= on in southeastern <st1:State w:st=3D"on"><st1:place w:st=3D"on">Wisconsin</st= 1:place></st1:State> based on research and analysis. During the next three years, the Forum will encourage the region to think and act in ways that promote its long-term economic and social health, including . . . &nbs= p; </span= > <ul style=3D'margin-top:0in' type=3Ddisc> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Developing a <st1:place w:st=3D"on">Southeastern Wisconsin</st1:place> Leadership Network;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Establishing priorities for regional action;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Making the case to citizens that regional coopera= tion is vital to our future;</li> <li class=3DMsoNormal style=3D'line-height:200%;mso-list:l1 level1 lfo2; tab-stops:list .5in'>Benchmarking progress toward the shared vision.</= li> </ul> -30- <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> <o:p> </o:p> </div> </body> </html> ------=_NextPart_01C55605.A3C74D20 Content-Location: file:///C:/50F412C5/TIFnewsrelease_files/header.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; 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