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Gibraltar TID bill passes the Assembly

You are a step closer to seeing workforce housing potentially come to the Town of Gibraltar. Championed by First District State Rep. Joel Kitchens, the Wisconsin State Assembly unanimously approved a bill paving the way for the Town of Gibraltar to establish a Tax Increment District (TID) to aid in its efforts to build workforce housing in the community. Workforce housing is needed to address its labor shortage concerns in the area at a price point many can afford.  Under current state law, Gibraltar does not meet the population requirement needed to be allowed to establish a TID even though the equalized value of its taxable property is well north of $500 million. TIDs are used locally in the City of Sturgeon Bay and Village of Sister Bay to help pay for some of the infrastructure needed to develop parts of their municipalities. In this case, the town would be able to install a sewer line and other improvements needed for the proposed affordable housing development. Town administrator Travis Thyssen said earlier this month that the TID would help the community provide the necessary improvements needed to make the project a reality.

In a statement from Kitchens, he said the bill stipulates that the private developer’s agreement must include a letter of credit that guarantees the repayment of the debt service on the project costs. Before the TID can be established, the bill needs the approval of the Wisconsin State Senate and Governor Tony Evers.

 

Details were added to this story to clarify that a developer and not the town would be the ones building the workforce housing units. The TID would address the infrastructure needed for those units.

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