The Marinette City Council has approved plans for a new tax incremental financing district surrounding the current City Hall property.
The proposed TID 20 is designed to support redevelopment after City Hall operations move to the former National Guard Armory. However, community member Doug Oitzinger urged the council to consider options beyond the proposed T-Spell housing development.
The current financial projections are based on a possible sixty-unit development featuring ten market-rate and fifty workforce-housing apartments. The plan also includes potential development incentives and improvements along Stephenson Street.
City financial advisor Joe Murray stressed that creating the district does not commit the city to T-Spell or any particular project.
Council members also agreed to expand the proposed district by adding two neighboring parcels along Hall Avenue. One includes a long-vacant building its owners are working to renovate into commercial space and two apartments.
The council will still need to separately approve any future development agreement, financial incentive, or construction project within TID 20.
FULL STORY









Comments