The Pleasant Prairie Village Board has approved the Boundaries and Project Plan for Tax Incremental District #12, Lake View East, and State Trunk Highway 31 Area Project (TID 12). The new District will promote mixed-use projects and aims to attract new businesses and developers to spur economic development, create jobs, and bring public improvements to the area. It covers approximately 946 acres of land, generally located south of 93rd Street, west of Green Bay Road, north of 128th Street, and east of 88th Avenue.
The TID 12 Project Plan anticipates a mixed-use development consisting of 86% Industrial, 4% Commercial, and 10% newly platted residential. One developer has expressed interest in undertaking a residential housing project within the District. Over the lifespan of TID 12, the District will collect sufficient value to finance and cover the proposed public improvements in and around TID 12. The total improvement cost attributed to TID 12, including design, construction, financing, administration, and other expenses, is estimated at $91,000,000. Eligible projects include mass earthwork and stormwater management, public utility installations, roadway construction, floodplain adjustments, railroad spur construction, sidewalk or multi-use trails, traffic signalization, and parking infrastructures.
Creating TIDs requires the approval of the Joint Review Board (JRB), Village Plan Commission, and Village Board. With the completion of the Plan Commission meeting on February 19, 2024, the First JRB meeting on March 12, 2024, the Public Hearing at the Plan Commission on April 1, 2024, and the Village Board meeting on April 22, 2024, TID 12 moves to the second and final JRB meeting to create the new TID.
"TID 12 will help the Village attract reputable developers and continue the mission to promote and preserve investment in the community," stated Community Development Director Rob Hanson. “The growth of businesses and future mixed-use developments within TID 12 will help fund essential public infrastructure upgrades and strengthen the overall economic well-being of the community."
