The village of Plover is considering creation of a new tax increment district (TID) – TID 7 – to spur development along a section of the Business 51 corridor and to defray some of the village’s costs for planned improvements to that road.
“The No. 1 project in (the TID 7 plan) is the Business 51 reconstruction project,” said Dan Mahoney, village administrator.
The joint review board, which consists of representatives from the taxing jurisdictions affected by the TID, heard the village’s plan at a meeting Wednesday, March 27, the first in a series of approvals that will be necessary for the village to form the TID.
The village proposes placing 17 privately owned parcels totaling 32.8 acres along 51 between Springville Drive and Roosevelt Drive into a 20-year mixed-use TID. The base value of the properties, many of which are currently vacant, is $2,653,414.
Mahoney said the village is working with developer Randy Woyak on a mixed-use development on one of the parcels that would see residential development toward the back end of a long parcel, with commercial development planned for its east end along 51. The village may help Woyak with the expense of extending sewer and water mains to accommodate the development in order to capture the tax increment from the roughly $2 million project to help finance improvements to 51.
The Wisconsin Department of Transportation will be rebuilding the Business 51 corridor through Plover and Whiting over the coming years.