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Tax Incremental District #5
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PLEASANT PRAIRIE TAX INCREMENTAL DISTRICT #5 ESTABLISHED CREATING NEW PRAIRIE HIGHLANDS CORPORATE PARK
During late February, the Village of Pleasant Prairie announced its intent to purchase approximately 458 acres of land at the northwest corner of County Highway Q and I-94 to facilitate the creation of the new Prairie Highlands Corporate Park with a focus on manufacturing, office and commercial uses. As part of the announcement, plans to amend an existing and create a new Tax Incremental District (TID) were also announced.
In separate meetings during April, the Pleasant Prairie Plan Commission and Village Board both considered and approved resolutions related to the two districts - a sixth amendment to the community’s TID #2, which will be retired in 2023, and a project plan for the new TID #5, slated to retire in 2033. On May 8, members of the community’s Joint Review Board subsequently approved a resolution establishing the new TID #5, effectively creating Prairie Highlands Corporate Park.
TID #5 overlaps with a portion of TID #2 that is located west of I-94 between County Highways C and Q. It will provide funds to complete infrastructure improvements to facilitate the development of Prairie Highlands. Anticipated project expenses for work detailed in TID #5 are estimated at $54,862,500. Current estimates place the value of TID #5 at $307,308,400 once it has reached maturity in 2033.
Work to design and install infrastructure that will enable the development of Prairie Highlands is underway. The first corporate user in TID #5, announced by Wisconsin’s governor on March 23, will be German gummi bear maker Haribo, with 137.5 acres. Representatives for the Village and the company are continuing work in preparation for the project to be submitted.
The Project Plan for Tax Incremental District #5 is available by reading the TID5 Project Plan Final 4 17 17 found at http://pleasantprairieonline.com/publicnotices/section.asp?ID=18.