The Joint Review Board for the Village of Withee’s Tax Incremental Financing Districts met on Thursday, April 10 with all taxing jurisdictions represented.
The financial statements for the two TIDs were reviewed. TID #2 had revenue of $23,699, expenses of $21,516 and still has a deficit of $300,831. It was created in 2009 and is set to expire in 2029. This TID which covers the area where Midway Steel, Refuel Pantry, and the field behind Withee Oil is located is classified as Mixed Use.
TID #3 had revenue of $28,062, expenses of $13,091 and still has a deficit of $207,039. It was created in 2011 and is set to expire in 2031. This TID includes the area where Ray Kilty will be building, Maurina Monument, Jim and Lana Bohl’s businesses and land off of Hwy 29. Some of the area is wetland and unbuildable.
Two resolutions were approved that together will allow a six year extension to TID #2. This enables the Village to give a tax credit to Midway Steel for a period of six years once their addition is complete. The tax break was the last expenditure project allowed in the TID and was approved by the village board in 2024 contingent upon Midway Steel building.