The Pleasant Prairie Village Board Monday approved a project plan and boundaries for a new tax incremental district generally between 80th and 88th Avenues and 85th and 107th Streets. It includes the site of the former Pleasant Prairie power plant.
TID 9 will bring industrial development to both the former We Energies power plant site and an additional 417 acres of surrounding properties, according to Kathy Goessl, interim village administrator.
"The developer-funded TID will provide financing for public infrastructure improvements that will not only benefit the redevelopment of the former power plant site but will also provide benefits to the entire community," Goessl said.
A tax incremental districts are one way cities or villages subsidize development or redevelopment projects by keeping the property's tax rate at the level it was prior to improvements for a set amount of time. The extra money saved is used by the TID for the improvements.
Proposed improvements include extending 80th Avenue north from 95th Street, ending in a cul-de-sac with storm water and sanitary sewer management systems and a water main loop and a private roadway from Bain Station Road south to provide an alternate emergency access route.
Additional projects include a multi-use path on 95th Street, sidewalks along 80th Avenue, several intersection enhancements, and Bain Station Road connection with 85th Street at Green Bay Road.
The total improvement cost attributed to TID 9 is estimated at $16,945,000, including design, construction, financing, administration, and other expenses. Dermody Properties intends to develop 198 acres of TID 9, agreeing to fund a portion of the public and private infrastructure improvement costs through a private municipal revenue obligation, estimated at $6,845,000.
The approval process to create the Tax Incremental Financing District for TID 9 is done in three phases and requires approval from the Joint Review Board , Village Plan Commission, and Village Board. The first JRB meeting was held July 12 and the Plan Commission on July 18. The final meeting to create TID 9 will be on Monday, Aug. 23.
TID 9 is part of the village's efforts to continue development in the area, especially at the former power plant site. The plant, which operated from 1976 to 2018 and began decommission in 2020, was fully demolished on Saturday morning, Aug. 6, when the last section was taken down.
The Board approved three of four agenda items pertaining to the power plant site, including the master conceptual plan, a comprehensive plan amendment and a zoning map amendment. The certified map survey to subdivide the property into three lots was tabled at the recommendation of Community Development Director Jean Werbie-Harris, as several details had to be re-discussed between parties.
Two of those lots will be kept by Wisconsin Electrics, with the middle lot being turned into an 198-acre industrial park called th LogistiCenter.