When Kiel planners embarked on their visionary effort back in the late 1980’s community growth was a vision of hope.
Today, more than 30 years after Kiel formed its first tax incremental financing district, the community and its taxpayers are seeing the full fruits of that planning effort.
“We are really fortunate to have had the outstanding growth in our TIF districts” Mayor Robert Werdeo, Jr. said. “It’s really a compliment to all those who were involved in that planning effort when it all started.”
Last year, Kiel retired its largest TID, and the benefits for taxpayers in the Kiel area continue. Excess incremental dollars remaining when the TID closed helped to finance the construction of Kiel’s expanded firehouse, which was officially dedicated last year. Even larger portions of those funds went to the Kiel Area School District.
Additional tax revenues were officially turned onto the tax rolls, which allowed the city, school district and county all to benefit from higher tax revenue in the former TID areas.
“We were fortunate enough to see this growth happen, and this infrastructure put into place without a burden on the tax rates or utility rates,” City Administrator Dennis Dedering said. “This complements the city’s long term goals of keeping taxes low and still upgrading the infrastructure needs of all our residences and businesses.”