VILLAGE OF ELLSWORTH PUBLIC HEARING PROPOSED AMENDMENTTID #4Feb. 29, Mar. 7, 2012
Feb. 29, Mar. 7, 2012
NOTICE OF PUBLIC HEARING OF PLAN COMMISSION
TO CONSIDER PROPOSED AMENDMENT TO THE
PROJECT PLAN OF TAX INCREMENTAL DISTRICT #4, VILLAGE OF ELLSWORTH TO DESIGNATE THE
DISTRICT AS A DONOR TAX INCREMENTAL DISTRICT
Please take notice that the Plan Commission of the Village of Ellsworth will meet at 7:00 p.m. on the 19th day of March, 2012, at the Ellsworth Village Hall, 130 N. Chestnut Street, Ellsworth, WI 54011, for the purpose of holding a public hearing pursuant to Sec. 66.1105 (4)(h) and (4e) Wis. Stats. The Project Plan of Tax Incremental District #4 (TID #4), Village of Ellsworth, Wisconsin is being amended to designate TID #4 as a donor tax incremental
The proposed Project Plan Amendment provides that TID #4 would donate excess tax incremental funds to Tax Incremental District #7 (TID #7, distressed), Village of Ellsworth, a distressed tax incremental district, in the approximate amount of $345,000.
The designation of TID #7 as a distressed tax incremental district allows the extension of the maximum life of TID #7 up to ten (10) years until 2036. By establishing TID #4 as a donor tax incremental district to donate excess tax incremental funds to TID #7, the maximum life of TID #4 will also be extended to 2036 in order to provide such increments. A reasonable opportunity will be afforded to all interested parties to express their view on the proposed Project Plan Amendment and the donor designation for TID #4.
A copy of the proposed Project Plan Amendment will be avail- able prior to the public hearing for inspection and will be provided upon request from the Village Hall located at 130 N. Chestnut Street, Ellsworth, WI 54011 during regular office hours.
Dated: February 24, 2012
Peggy A. Nelson, Village Clerk, Village of Ellsworth