Franklin Council to Vote Tomorrow on $15M Poth’s General TIF as Debate Over Blight, Financing and Political Influence Intensifies
By Dr. Richard A. Busalacchi Franklin Community News FRANKLIN — The Franklin Common Council will vote Tuesday night on whether to approve Tax Incremental District (TID) No. 10 , a financing plan that could direct up to $15 million in future property tax revenue toward redevelopment of the former Poth’s General and Orchard View property. The proposal, which involves construction of approximately 292 apartment units and limited commercial space , has sparked debate in recent weeks as residents question whether the project meets Wisconsin’s statutory requirements for tax incremental financing and whether the public financing is justified. The council meeting is scheduled for Tuesday, March 17 at 6:30 p.m. at Franklin City Hall, 9229 W. Loomis Road. How the Proposed TID Would Work Under Wisconsin’s tax incremental financing system, the current value of property within a district is established as a “base value.” Property taxes generated from that base value continue to be distribute...