SUPERIOR, WI (KDAL) – The City of Superior has announced plans to formally close the Tax Increment District (TID) that covers the Conner’s Point Industrial Park.
That TID was created in the 1990’s to help spur development in the area and was one of a half dozen in Superior.
The city uses the TID’s as a financing mechanism to provide infrastructure such as roads and utilities to serve businesses that locate within the district.
The closure of this TID will allow new revenue to support city finances and lower the tax burden for the entire city.
Before it closes in 2022, this TID will provide an estimated 350 thousand dollars to an upcoming project to provide affordable housing in Superior.
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