Status of the Brookfield Square/Executive Drive Redevelopment Strategy, Tax Increment District Number Three (TID #3).
What Has Happened
Tax Increment District #3: The City of Brookfield and Joint Review Board respectively adopted the TID #3 Project Plan in August and September 2004, which has helped finance public improvements within the Brookfield Square/Executive Drive Area to foster redevelopment.
The State of Wisconsin Department of Revenue certified the base value of TID #3 in February 2005. The TID #3 Project Plan recommended incorporating a formal set of design guidelines to the City Zoning Code regarding TID #3 within twelve months of District creation. A set of guidelines were accepted by the Plan Commission in 2005.
The Plan Commission and Common Council have approved a number of development projects that represent significant reinvestments in the TID #3.