Development

We have several financial assistance programs available to businesses and commercial property owners in Wauwatosa. There is one program open to non-profits in Wauwatosa.

Business and Commercial Property Owners

The small business forgivable loan programs provide financial assistance to small businesses and property owners City-wide interested in renovating their buildings and improving their operations.

Applications are reviewed and approved by the Community Development Authority (CDA). Please submit your completed application to  [email protected]

 

Sign Forgivable Loan Program

This program is designed to assist businesses with the purchase and installation of a new sign.

Download the Sign Forgivable Loan Program Application

 

Forgivable Loan Programs for:

  • Façade Improvements: assists properties located in commercial districts with building façade improvements on the street-facing side of the building.
  • Code Compliance Updates: building improvements required to meet the current building code including projects such as accessibility modifications, fire system installation, plumbing or electrical upgrades and other code compliance updates.

Forgivable Loan Program Detail Summary

Download the Forgivable Loan Program Application

Start-up and existing businesses in Wauwatosa may be eligible for loans up to $100,000 through the Wauwatosa Revolving Loan Fund Corporation (WRLFC). The Board of Directors of WRLFC manages and administers the lending program.

 

Principle objectives of the WRLFC include:

  • Improve existing businesses and business neighborhoods in the City of Wauwatosa.
  • Increase the number of individual businesses within the City of Wauwatosa.
  • Increase jobs and job opportunities within the City of Wauwatosa.

 

Eligible projects include:

  • Land/Building Acquisition
  • Construction
  • Remodeling
  • Expansion
  • Machinery & Equipment
  • Leasehold Improvements

 

Please review the application and checklist for additional information:

  • WRLFC Application
  • WRLFC Checklist
  • WRLFC Loan Policy

 

Contact

For more information, please contact Jen Ferguson, Economic Development Manager, at (414) 479-3520 or [email protected].

Our Community Development Authority (CDA) operates a business loan program with federal Community Development Block Grant (CDBG) funding for the purpose of eliminating blight and generating new employment in the community. These funds can be used by property or business owners in Wauwatosa for property acquisition, building improvements/expansions, and limited equipment purchases.

 

Requirements

  • Compliance with federal CDBG program regulations is required – city staff will discuss these with applicants prior to submitting an application.
  • Businesses must create new jobs predominantly filled by low/moderate Individuals (LMI). An LMI individual is defined as a person with a household income that falls at or below a annually set threshold.
  • Funding is not retroactive – only work started after a complete application is submitted and approved is eligible for consideration.

 

Additional Information

Please review the CDBG Business Loan Program Summary for additional information.

Wauwatosa’s Economic Development Policy & TIF Application

 

What is TIF?

The Tax Incremental Finance Law (TIF) was approved by the Wisconsin Legislature as an economic development tool that municipalities could use to promote tax base expansion by using property tax revenues for:

  • Funding site improvements to attract new development
  • Rehabilitation/conservation
  • Industrial use
  • Mixed-use
  • Eliminating blight
  • Environmental remediation

 

Benefits may also come in the form of increased employment, an improved business climate, and elimination of unsafe or unsightly areas.

Before TIF, when a community installed public improvements to promote private development, its property owners bore these costs, but all taxing entities that shared the tax base benefitted. The legislature recognized this was an inequitable situation that sometimes discouraged development and redevelopment efforts. With TIF, all those who benefit directly or indirectly help pay development costs. All taxing entities become partners to promote expansion of their tax base.

 

What is a TID?

A Tax Incremental District (TID) is an actual area (parcels) designated for expansion where improvements are being made.

 

How does TIF work?

When a TID is created, the municipality and other taxing entities agree to support their normal operations from the existing tax base within the district. A finding must be made that no development would happen without this financing tool. If this is true, tax rates will be the same with or without the TID. Property tax rates for the school, county, technical college, and municipality are based on the taxable value of the TID at the time it is created. These rates are then applied to the TID value increment which results in additional revenues collected for the district’s fund. Eligible TID costs are paid from these revenues before the added tax base is shared.

In theory, the tax increment added to each levy does not increase taxes for property owners in the various taxing entities. It comes from taxes paid by owners of property, within the TID, whose property values have increased since the creation of the district. This is possible because levies are apportioned without the TID value increases.

TIF is not a tax freeze nor a tax increase, but a special allocation method for taxes collected on property value increases within the district.

 

Who are the other taxing entities?

The other taxing entities are school district, county, and technical college. If applicable, other entities could include lake district, sanitary district, and metro sewer district.

Each tax district involved participates in the TIF partnership. Each shares a common hope that TIF expenditures will promote property tax base growth that would not otherwise have occurred. However, each tax district is affected to a different degree, depending on the value of TIDs within its boundaries compared to its total value. Joint Review Board (JRB) members should each analyze how TIF affects each of them. Visit the Department of Revenue for specific JRB membership details.

 

How are tax increments determined?

When a municipality creates a TID, it applies to the Department of Revenue for determination of property values within the district. This is the district’s Base Value. As long as the TID exists, the Department determines its equalized value as of January 1st each year. This is called the Current Value. The difference between the base value and the current value is the Value Increment. The value increment is used to determine the amount of tax increment revenue that can be collected for that particular year.

Each taxing entity apportions its tax levy to the municipalities within its boundaries based on each one’s share of its total equalized value. Only the base value of TIF districts is included in the apportionment process.

Some observers of the TIF law argue that since the base value of the TID may grow each year due to inflation, taxes on the “ordinary growth” in the base value should accrue to the respective taxing jurisdictions rather than to the TID’s tax increment. However, the TIF law provides that all value increases become part of the increment.

 

Are there limits on the use of TIF?

Limits are applied to the creation of new districts or the addition of property to existing districts. The equalized value of property in the district, plus the value increment of all existing districts cannot exceed 12% of the total equalized value of taxable property within the municipality. This restriction does not apply when subtracting territory from a district.

 

What is the life of a TID?

The maximum life of a TID depends on the type of TID and when it was created. See the TIF Criteria Matrix for specific details.

 

More information

For more information, visit the Wisconsin Department of Revenue.

Business Development in Wisconsin & Additional Support

The State of Wisconsin utilizes a combination of technical and financial assistance programs that have been designed to assist businesses at all points of the continuum including: business planning, site selection, initial capitalization, permitting (including environmental), employee training, research and development, business expansion, and export development.

There are a wide range of resources available to businesses in Wisconsin, whether initiating a new idea or expanding a business. The following links will guide you to all the important resources the State offers to help grow your business.

 

Non-Profit Assistance

Community Development Block Grant (CDBG) Program
The primary objective of the CDBG program is the development of viable urban communities by providing opportunities for decent housing, a safe living environment, and expanded economic opportunities to principally low or moderate income persons.