Thursday, June 25, 2020

New TIDs for hotel/convention center and Horlick Malted Milk campus go to Council

From The Journal

This rendering shows the proposal for a $48 million hotel, at right, and additional convention center space, in background, at the north end of Festival Park. If approved by the City Council, the newly created TID 24, would provide funding for the project. 

RACINE — Two proposed Tax Increment Districts, or TIDS, to fund two major construction projects are set to go before the City Council at its next meeting.
The Planning, Heritage and Design Commission on Wednesday held public hearings for two proposed new TIDs, TID 24 and TID 25, and unanimously voted to send them to the City Council for final approval.
The commission also submitted for approval the reallocation of funds from existing TIDs, TID 9 and TID 14, to the new TIDs which would also assist with financing those projects.
The next City Council meeting is scheduled for 7 p.m. on July 21.

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