Tax Incremental District No. 7, Yellowstone Industrial Park Project Plan
The district was created to:
- PromoteindustrialdevelopmentintheCityofMarshfield Industrial Park . Existing industrial development parks were full at the time and the City desired a new location for further development.
Amendments: The City has the ability to amend the District four times to add territory. The first amendment to the District occurred in 2008 and add ed additional territory to the north side of the District. The second amendment occurred in 2010 which add ed additional territory and amend ed the list of projects to be undertaken. The District was also amended a third time in 2011 to designate the District as distressed which extended the maximum life of the District to May 22,203 4 .
Purpose of Amendment: The purpose of this amendment, referredto hereafter as the Plan, the Amendment, or the Plan Amendment, is to:
- Subtract territory from the District as permitted under Wis. Stat.§ 66.1105(4)(h)2. This is the third of four permitted territory amen dments available to the District.
- ThesubtractionofpropertyisdesirabletotheCitysothatthe subtractedpropertycanbeaddedtoanewDistrictthattheCityis creating simultaneously,as presentedintheTIDNo.12ProjectPlan.