Celebrating 22 Years of TID Success
The Village of Grafton established Tax Incremental Financing (TIF) District #3 on March 3, 1999. The 55-acre district encompassed over 180 properties in the Downtown area from Veterans Memorial Park to Broad Street and the Milwaukee River to the railroad tracks. Tax increment from new development over the years funded numerous public infrastructure projects including street reconstruction, traffic signals, moving overhead utilities underground, the Riverwalk, Paramount Plaza, and the Bridge Street dam reconstruction. Furthermore, it helped projects like the Hotel Grafton Apartments, 1505 Apartments + Townhomes, the Lumberyard and Paramount Plazas, that make Grafton Great! The beginning property value of the District in 1999 was $21 million; the end value was over $82 million for an added value of over $61 million. Key redevelopment projects included the Lumberyard, Mill Square, and The Heritage. In October, 2021 the Village held an event to celebrate the redevelopment accomplishments in our Downtown and the official end of Village-funded projects in the TIF District.