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We have some revolving loans funds and good grant programs, but compared to TIF, those are minor.”Last year, the city approved TIF assistance to spur redevelopment of the East Town Mall and the east side Cub Foods, to help finance construction oftwo floors of apartments atop the Cherry Street parking ramp, and to spur development of the University Avenue Festival Foods.TIF assistancehas also been requested for redeveloping the Packerland Packing site on University Avenue and as a possibility to cover some costs associated with the Green Bay Bullfrogs outdoor event center proposal.Even with all of those allocations, the city would only have4 percent of its assessed property value in 15 active TIF districts, Vonck said. State law caps the amount at 12 percent.Several aldermen at the meeting said Vonck’s presentationmade a hard cap less appealing, butthey still hope to see more discussion about TIF use and its impact before projects come up for council consideration.”Since each project is different, what we need to do is, they need to have an understanding it might take another month (to approve an agreement) so we can represent this to the city, have a public hearing and then we have a month to put all of this dialogue in perspective,” De Wane said. “We need to be more open and give staff more time to present this to council.”Percent of municipal property in TIFs (12 percent maximum allowed)Appleton:3.4 percentFond du Lac: 3.1 percent..
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