Aerial View of Highlands Business Park Site |
The Highlands Business Park is a commercial and industrial development located on the northwest corner of STH 164 and CTH K. This project will build upon the success of the Sussex Corporate Center, located directly across STH 164. This development will provide for the continued expansion and diversification of the Village’s tax base and provide employment opportunities for Village residents. Infrastructure improvements in this Tax Incremental District will include utility burial, street lighting, and a development incentive to offset the cost for a traffic signal at CTH K and STH 164, among other expenses.
For information on the Highlands Business Park, contact Wangard at 414-231-8626.
A Tax Incremental District or “TID” is a commonly-used tool to drive commercial and industrial growth. By creating tax incremental districts, the Village is able to finance infrastructure improvements through the taxes collected on the increase in value for taxable property—the tax increment—resulting from development and redevelopment within the district. These infrastructure improvements may include roads, water, sewer, stormwater, parks, etc. When a TID is closed, the value of the property and improvements goes to the overall value of the Village and the full value of taxes is then paid to all taxing bodies, and is no longer solely dedicated to improvements within the district.
