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NIDC:
TAX INCREMENTAL DISTRICTS
TIDs

Forgivable loans are eligible to assist owner-occupants with repairs in a limited number of neighborhood-based Tax Incremental Districts (TIDs.) A TID is a special financing tool that enables the City to borrow against the growth of tax base in order to create a pool of loan resources. TID program priorities are exterior code-related repairs such as roofing, siding, and porch repairs.

Currently NIDC helps administer 6 neighborhood-based TID’s:

CLICK HERE TO VIEW/PRINT THE TID LOAN APPLICATION

Each TID has a unique Project Plan, providing somewhat different resources for property owners.

NIDC provides technical assistance in all the TIDs where we work. Experienced rehabilitation specialists perform a thorough inspection of the property, identifying problem areas. The rehab specialist works with the owner to write a scope of work (a list of the work that needs to be done) and then helps the owner get bids from contractors. Once the work starts, the rehab specialist makes periodic inspections to make sure the work meets program requirements.


20TH AND BROWN  map

Approx. 21st to 24th, Brown to Garfield

Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible.


BISHOPS CREEK  map

38th to 35th and irregular boundary to the east, from Congress to Hampton

Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible.


CENTURY CITY  map

Capitol to Hopkins / 26th to 31st

Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible


LINDSAY HEIGHTS  map   flyer

Roughly Walnut to Locust / 20th to 12th

Owner-occupants
Homeowners are eligible for up to a $10,000 forgivable loan. Through July 31, 2014, applications are limited to owner occupant homeowners 62 years or older or owners with emergency repair needs.  Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. See program brochure for additional information.


METCALFE PARK  map

27th to 39th from Meinecke to Center

Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible.


HISTORIC MITCHELL STREET  map

Irregular boundary along Mitchell between S 5th and S 17th

Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines apply, but there are no income limits. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible.

Investor Owners
Responsible investor owners of 1-4 unit properties are eligible for a $10,000 forgivable loan. Applicants will be required to complete Department of Neighborhood Services Landlord Training Program. Owners must match TID forgivable loans with their own funds on a dollar-for-dollar basis (this requirement is waived for owners who live within three blocks of the property). Program guidelines apply, but there are no income and rent limits on owners or tenants. The loans bear no interest rate, and after 5 years they are forgiven. Generally only code-related exterior work is eligible. Application for investor owners available here

 

 

Last page update:  04/29/2014

 

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NIDC

809 North Broadway
3rd Floor
Milwaukee, WI 53202

(414) 286-5608 

NIDC@milwaukee.gov