|
 NIDC:
Tax Incremental Districts
TIDs
The City of Milwaukee has 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 5 neighborhood-based TID’s:
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 writes 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.
Bishop's 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.
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.
Metcalfe owners may receive either TIN or TID loans, but not both.
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.
|