Tuesday the Eau Claire City council voted 7-to-3 to approve a new TID district in the Water street area.
The city said this will aid in the reconstruction of the river front trail along the Chippewa River, expand an existing parking lot, and allow for the creation of a revitalization program for the historic Randall Park neighborhood.
“This TID is to capture public development, and turn that capture into a good public use for the common good,” Kerry Kincaid city council president told News 18.
The next step is for the project plan to be reviewed by the city joint review board.
Eau Claire (WQOW) - The area surrounding Water Street in downtown has been approved as a new TIF district.
The Eau Claire Plan Commission approved the proposal Monday night. The creation of the TIF district would allow for several city improvements, such as an improved bike trail along the Chippewa River, expansion of a parking lot on Chippewa street, and funding for a neighborhood revitalization program.
Jay Winzenz, Eau Claire's finance director said, housing in the Randall Park neighborhood would be substantially improved with the revitalization program.
" I think it's very good for the historic Randall Park neighborhood, because it provides a significant pool of money, approximately $2 million over 15 years to fund various neighborhood revitalization activities,” Winzenz told News 18.
The next step for the proposal is for it to come before city council for a public hearing on Monday September 11.
Posted Aug. 10, 2017:
Eau Claire (WQOW) - City staff are looking to create a new TIF district that would help revitalize the area surrounding Water Street in Eau Claire.
Jay Winzenz, Eau Claire's finance director, said the first plan is to make improvements to the walking trail along the Chippewa River, in part by adding lighting and creating river overlooks.
He said the city would also create a neighborhood revitalization program, which will stabilize and improve housing in the Randall Park Neighborhood. Currently, there are several developments in the area, including the student housing building and the Sonnentag Event Center.
Winzenz said while these projects won't be benefiting directly from the TID, they will benefit from the development it spurs. "The improvements that we're talking about here also serve to help link the Sonnentag Event Center to the university and provide that link for students and others to get to and from the event center," Winzenz said. "So, we really see this as a connection between the event center and the university, and a way to help students and residents in the community get back and forth between the two."
The TIF district is up for a public hearing during the Eau Claire Plan Commission meeting on Monday, Aug. 14. If approved, the city expects to start working on the trail project in 2019.