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Plover OKs new TIF district

9:51 PM, Apr. 5, 2013
Many of the 17 properties in the new TIF district in the village of Plover are vacant. The district covers 33 acres over a half mile of Post Road.
Many of the 17 properties in the new TIF district in the village of Plover are vacant. The district covers 33 acres over a half mile of Post Road.
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Changes to a half-mile portion of Post Road in Plover could lead to development and increased property values.

Post Road from Springville Drive to Roosevelt Drive is in line to become a tax increment financing district after a recommendation by the village's Plan Commission this week. A property owner in a TIF district can borrow money from a municipality to develop the site and pay back the money through additional property taxes generated by the property's increased value when it's developed. With less money required up front, TIF designations can make a site desirable to investors.

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