The Milwaukee Common Council on Tuesday approved a TIF district to boost revitalization along West Mitchell Street.
The Milwaukee Common Council Tuesday approved a Barrett administration proposal to boost revitalization along West Mitchell Street on Milwaukee’s south side by creating a $3.1 million tax incremental financing (TIF) district.
The TIF district for the Historic Mitchell Street neighborhood will assist in attracting and retaining retail, office and service businesses in one of the city’s oldest commercial corridors. The initiative will assist businesses as well as improve key catalytic properties, add new harp lights, update the streetscaping and improve public safety. Home owners in the neighborhood also would be eligible for loans up to $10,000 to make repairs to the exteriors of their homes.
The Mitchell Street plan covers the area one block north and one block south along W. Mitchell Street, from South Fifth Street to South 16th Street and includes a commercial area south of West Forest Home Avenue between South 13th and South 15th Streets.
"My Stronger Neighborhoods agenda has meant greater use of all available economic development tools to leverage jobs, new businesses and additional private investment in areas throughout the City of Milwaukee," Mayor Tom Barrett said.
For more information about TIF-assisted projects and to learn about all of the economic development tools used by the City of Milwaukee, visit the Department of City Development’s online Business Toolbox at www.mkedcd.org.
