What is the benefit for the City, assuming it provides subsidies for the project through TIF or some other form of funding?
Increased tax base, additional housing opportunities, 21st century community library, connectivity to event spaces, improved walkability, additional parking, connectivity to the water and trails, and redevelopment that otherwise would not occur.
How much will it cost to demolish the Soldiers Square Ramp?
That cost is not yet known.
How much will it cost to build the temporary parking lot?
That is yet to be determined.
Does the City have to buy back the Soldiers Square ramp or the homes to build the temporary parking lot?
The developer, with the City, is working collaboratively with all stakeholders to identify the best way to proceed.
How much (roughly) tax revenue will be generated for the City in the first year the development is completed? How much to support the school district?
The project is in a TIF district. At the time of creation, the base value of the TIF district is frozen at the current level so all taxing jurisdictions receive tax at that base value throughout the life of the TIF. The City of Appleton is the exception to this as we reinvest that difference in tax between the frozen base value and the value after redevelopment, known as the increment. So, a rough figure, based on the City tax levy of $8.92/$1,000 of value on the estimated $22 million project would create about $200,000 in taxes per year to the City.
Will this result in more taxes and/or fees for residents?
The City would likely have to borrow to cover the cost of the library building. that could have an impact on property taxes in the future. The final cost of the library portion of the building would also depend on other factors like tax credits and/or grants.