Notice of Public Hearing Regarding the Proposed Project Plan, Boundaries and Creation of Tax Incremental District No. 17

NOTICE IS HEREBY GIVEN that on August 8, 2022 at 5:30 PM, a public hearing will be held before the Plan Commission of the City of Two Rivers, WI in the Council Chambers at City Hall, 1717 East Park Street, Two Rivers, Wisconsin pursuant to the requirements of Sections 66.1105(4)(a) and 66.1105(4)(e) of the Wisconsin State Statutes, regarding the proposed Project Plan, boundaries and creation of Tax Incremental District (TID) No. 17. 

TID No. 17 is being created to provide financing to eliminate blight and redevelop the former Eggers West Industries property along the West Twin River. Planning for this area includes the improvement of an idle, site which is a blighting influence. A Developer has proposed the new construction of a 54-unit multi-family residential development with both affordable and market-based units. The Developer is anticipating an investment of $10,000,000.

TID No. 17 would provide a TIF grant of $500,000 to the developer. The TIF grant would be in the form of "pay-as-you-go" financing. The TIF assistance requires a Development Agreement, between the City and the Developer specifying terms and conditions and approved by the City Council. The Project Plan also includes a TIF grant of $500,000, in the form of "pay-as-you-go" to rehabilitate the existing building on the premises. This assistance would also require a Development Agreement. The Project Plan identifies, if financially feasible, shoreline and trail improvements along the West Twin River. Additionally, the Project Plan includes business façade and improvement grants within one-half mile of the District's boundaries.

TID No. 17 would be approximately 5.66 acres and includes the former Eggers West Industries property at 1702 13th Street. A map of the proposed boundaries of TID No. 17 is being published as part of this notice.

At the public hearing, all persons will be given a reasonable opportunity to be heard concerning the proposed Project Plan. A copy of the TID No. 17 Project Plan is available for review at the City Manager's office in City Hall or will be provided upon request.

Tentatively, TID No. 17 could be created in September 2022 after review and approval by the Two Rivers City Council and an approval action by the Joint Review Board consisting of representative members of all affected taxing jurisdictions and a public member.

Dated July 20, 2022
(signed) Jamie Jackson, City Clerk
(signed) Vicky Berg, Zoning Administrator
Published on July 27th and August 1st, 2022

PUBLISHED BY THE AUTHORITY OF THE PLAN COMMISSION OF THE CITY OF TWO RIVERS, WISCONSIN