The Joint Review Board for the Village of Withee’s Tax Incremental Financing Districts met on Tuesday, June 2 with all taxing jurisdictions represented.
The financial statements for the two TIDs were reviewed. TID #2 had revenue of $31,535, expenses of $13,570 and still has a deficit of $282,866. It was created in 2009 and is set to expire in 2035. This TID which covers the area where Midway Steel, Refuel Pantry, and the field behind Withee Oil is classified as Mixed Use. The life of this TID has been extended but there is no further opportunity for development expenditures.
TID #3 had revenue of $4,148, expenses of $8,517 and still has a deficit of $191,408. It was created in 2011 and is set to expire in 2031. This TID includes the area where Maurina Monument, Jim and Lana Bohl’s businesses and land off of Hwy 29 are located. Some of the area is wetland and unbuildable. The life of this TID has been extended and has about a year where development expenditures can be made. There will probably be a small shop going in next year to the south of Bohl’s.