City Closes TIF District, Returning $6.5M To Tax Rolls
The TIF district, formed in 2000, supported the expansion of Nucor in the Northbranch Industrial Park.
Oak Creek has dissolved a tax-incremental financing district in a move that will return $6.5 million to tax rolls. The TIF was created in 2000 to support the expansion of Nucor, then called Milwaukee Steel Converting, at 400 W. Burkhard Court in the Northbranch Industrial Park. The business expansion has resulted in an additional tax value of $4.6 million, according to a report to council members. The project costs for the TIF district, which mostly went to expand a public street, were $722,528. The city has received the tax increments necessary to pay the project costs and can now close the district. "It's really a great example of how the city can invest in the future of its companies, of its businesses, of its business parks, and get …
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