The City of
Milwaukee has a limited number of neighborhood-based Tax Incremental
Districts (TIDs.) A TID is a special financing tool that enables the
City to borrow against the growth of tax base in order to create a
pool of loan resources. TID program priorities are exterior
code-related repairs such as roofing, siding, and porch repairs.
Currently NIDC helps
administer 5 neighborhood-based TID’s:
Each TID has a unique
Project Plan, providing somewhat different resources for property
owners.
NIDC provides
technical assistance
in all the TIDs where we work. Experienced rehabilitation specialists
perform a thorough inspection of the property, identifying problem
areas. The rehab specialist writes a scope of work
(a list of the work that
needs to be done)
and then helps the owner get bids from contractors. Once the work
starts, the rehab specialist makes periodic inspections to make sure
the work meets program requirements.
20th and Brown
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Approx. 21st to 24th, Brown to Garfield |
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Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines
apply, but there are no income limits. The loans bear no interest rate,
and after 5 years they are forgiven. Generally only code-related exterior
work is eligible. |
Bishop's Creek
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38th to 35th and irregular boundary to the east, from Congress to Hampton |
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Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines
apply, but there are no income limits. The loans bear no interest rate,
and after 5 years they are forgiven. Generally only code-related exterior
work is eligible. |
Century City
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Capitol to Hopkins / 26th to 31st |
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Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines
apply, but there are no income limits. The loans bear no interest rate,
and after 5 years they are forgiven. Generally only code-related exterior
work is eligible. |
Metcalfe Park
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27th to 39th from Meinecke to Center |
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Owner-occupants
Homeowners are eligible for a $10,000
forgivable loan. Program guidelines apply, but there are no income
limits. The loans bear no interest rate, and after 5 years they are
forgiven. Generally only code-related exterior work is eligible.
Metcalfe owners may receive either
TIN or TID loans, but not both. |
Historic Mitchell Street
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Irregular boundary
along Mitchell between S 5th and S 17th |
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Owner-occupants
Homeowners are eligible for a $10,000 forgivable loan. Program guidelines
apply, but there are no income limits. The loans bear no interest rate,
and after 5 years they are forgiven. Generally only code-related exterior
work is eligible. |
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NIDC: