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Horicon Approves Creation Of New TIF District

Sep 13, 2017 -- 7:55am

9/13/17 - The Horicon Common Council approved a new tax increment financing district at their meeting last night. The TIF will run along Highway 33 from the railroad tracks to the West Lake Street and Clark Street intersections – including most of the downtown. Mayor Steve Neitzel says the driving force behind its creation was a 40-unit, mixed use, apartment complex. The 60-thousand square-foot building will be called Rock River Place and will be located at the intersections of Valley Street and Barstow Street. It will also feature a commercial space in the lobby. Neitzel says the city is planning on breaking ground in late November of this year, with the preliminary timeline for completion is the fall of 2018 or early 2019. He says the TIF will also help spur the development of new businesses in the downtown area. Neitzel says if all projects pan out listed in the TIF document the city could see an estimated $20-million-dollars in tax revenue. The life of the TIF district was set at 27 years.

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