Tax Increment District No. 1 (the "District") was created in 2000 under the authority provided by Wisconsin Statute Section 66.1105.
The District was created as a "Blight District" based upon a finding that at least 50%, by area, of the real property within the District is blighted and/or is in need of rehabilitation and/or conservation work within the meaning of Wisconsin Statute Section 66.1337(2m)(b).
According to the original Project Plan, the district was formed for the following purposes:
Tax Incremental District No. 1 in the Village of Suring is created under authority of Wisconsin Statutes 66.1105 primarily to assist expansion of the tax base by provided public improvements and incentives necessary to promote the development and redevelopment within the District boundaries.
The District is located in the Village's central business district. The Village of Suring intends that Tax Increment Financing (TIF) will be used to assure that greater private investment employment opportunities and tax base growth are realized.
To further the goals contained in the original Project Plan, the Village of Suring found it desirable to amend the District's boundaries in 2006 and add additional expenditures. A map of the district boundary and the areas added by amendment are found here and in the full Project Plan on file at the village Clerk-Treasurer's office.