On Monday, April 9, the Pleasant Prairie Plan Commission considered and approved a resolution for the project plan and the boundaries of Tax Incremental District No. 7 in the Village of Pleasant Prairie. A public hearing took place to gather public input at the meeting. TID #7 is being developed by Riverview Group, LLC on 308 acres of land generally located between 110th Street and 122nd Street and east of the East Frontage Road to be known as the Stateline 94 Corporate Park. The project plan will promote industrial development in the District.
This type of Tax Incremental District is allowed to have a 20 year life, with expenses allowed for the first 15 years of the TID. The cost for the design and construction of public and infrastructure improvements is $19,998,896 and is proposed to be developed in three phases. Construction on the first phase is tentatively scheduled to begin later this summer with an estimated completion date in late 2019.
When adding administrative and other project costs it will bring the proposed project total to an estimated $20,298,896. TID #7 is expected to realize $93.7 million in new value over its life and is anticipated to bring 1,250 jobs to the district.
The first meeting of the Joint Review Board took place on March 28, 2018. The Village Board is expected to consider the TID proposal on May 7, 2018 and the second and final meeting of the Joint Review Board to create TID #7 is scheduled to take place on May 15, 2018.
An agenda and related documents for the Village Board meeting will be posted to PleasantPrairieWi.gov as the meeting date draws near.