Office of African American Affairs
Affordable land and leasing costs, abundant fresh water, an educated workforce, low business costs and easy access to financing, technical assistance and efficient transportation have helped local businesses succeed and grow.
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Department of City Development
Tax Incremental Financing (TIF) is an economic development tool used by the City of Milwaukee and other municipalities to leverage private development investment. This tool has been available since the state of Wisconsin adopted a TIF statute in 1975.
Milwaukee has created more than 121 Tax Incremental Districts (TIDs) to support a wide variety of projects. In recent years, TIF has leveraged such high-profile investments as the construction of a new headquarters for Northwestern Mutual, the new downtown arena, the creation of the Menomonee Valley, Reed Street Yards and Century City business parks, and the installation of the Milwaukee RiverWalk. The tool also supports neighborhood-scale projects, such as the City Homes subdivision, South 5th Street reconstruction and the Bronzeville corridor.
Ensuring the availability of sufficient housing affordable to Milwaukee residents is crucial to our success as a city. Housing is a foundational element of people’s lives, and it is vital that Milwaukee has sufficient housing stock for current residents and potential new workers who can attract commercial investment. The following guidelines for Tax Incremental Financing (TIF) and the creation or amendment of a Tax Incremental District (TID), are not a guarantee of project approval. With respect to all proposed projects, City will monitor interest rates, construction costs, vacancy rates, displacement metrics, rents, and other market conditions, and may adjust these guidelines as needed. Selected projects must follow Wisconsin Statutes and Milwaukee Code of Ordinances requirements, including approval by the Milwaukee Common Council.
Click here to view the Department of City Development Tax Incremental Financing for Housing Development Guidelines.
The next meeting of the Joint Review Board will take place on December 19th at 11:00 AM. This meeting will be held virtually.
Meeting Notice and Agenda can be found here.