In a pivotal meeting held on December 3, 2024, the West Bend Plan Commission delved into the ambitious development plans for a new Tax Increment Financing (TIF) district, which promises to reshape the landscape of the city. The proposed district, primarily spearheaded by Newman Companies, aims to foster a blend of residential, commercial, and industrial growth, with an estimated total project cost of approximately $17.8 million.

The financial breakdown reveals significant investments: around $6.6 million earmarked for roadway improvements along South Eighteenth Street, $6.2 million in development incentives to address existing infrastructure needs, and $4.7 million anticipated for interest expenses related to potential debt issuance. Additionally, $340,000 is allocated for administrative and professional expenses throughout the district's lifespan.

The projected outcome of this development is substantial, with an estimated increase of over $69 million in new taxable value within the TIF district. However, the commission noted that the district would likely need to utilize its full 20-year lifespan to cover the outlined project costs, indicating a long-term commitment to the area’s growth.

Geographically, the proposed district is strategically located, bordered by Highway 45 to the east and County Highway Trunk N to the south. The residential development is planned for the southern end, while the northern section is designated for non-residential use, reflecting a balanced approach to urban planning.

As the meeting progressed, the commission discussed the phased approach to development, with the first phase focusing on the corporate center and associated incentives, followed by roadway and water main improvements. Notably, a portion of the roadway funding—approximately $1.7 million—will extend beyond the district's boundaries, emphasizing the project's broader impact on the surrounding community.

This ambitious plan not only aims to enhance West Bend's economic landscape but also reflects a strategic vision for sustainable growth, setting the stage for future developments that could significantly benefit residents and businesses alike. As the commission moves forward, the community will be watching closely to see how these plans unfold and what they mean for the future of West Bend.