Sussex Answers Questions on New Corporate Park

Although the Sussex Village Board gave the green light to for a new corporate park, some Sussex and Lisbon residents were left with questions. 

During the June 12 Village Board meeting, local citizens stood at the podium and asked board members a list of questions about the possible development near Highway 164 and County Road VV behind . However, for legal reasons, the board wasn't allowed to answer them during the meeting. 

In an official statement released by the village, Sussex officials answer some of the questions that came to light during the meeting.

Why is the Village considering a new corporate center?

Another corporate center will add to the property tax base, will add jobs to the Village, diversifies the economy and supports further retail growth in the community. While the size ofthe proposed corporate center is approximately a third of the last corporate center, it has thepotential to continue the tradition in Sussex of promoting business development and tax base.

What is a TIF and why is the Village Board considering a TIF for the possible new corporate center?

A TIF District uses the property taxes from the new businesses in the development to pay for the public improvement costs, such as roads, sewer, water, engineering, land acquisition etcetera to create the development.

The Village has used TIF on many projects in its history, including both of the major industrial/corporate centers, downtown projects and certain residentialprojects. A TIF is one of the few economic development tools that local governments have in Wisconsin, and it is used extensively in Southeast Wisconsin.

Another corporate center will add to the property tax base, will add jobs to the Village, diversifies the economy and supports further retail growth.

A critical element of a TIF is the “but/for” test, which means that but for the investment of the TIF, the development would not occur.

A TIF District has to pass a vigorous financial analysis to ensure the TIF and the project itself are financially prudent, which involves independent review and a vote by the TIF Board comprised of representatives from Waukesha County, Waukesha County Technical College, the School District and the Village of Sussex.  

Has the Village of Sussex used TIF as a method of financing before?

Yes. The Village has used a TIF District five times in the past. The last major TIF was for the Sussex Corporate Center located along Highway 164. This project took farmland valued atapproximately $800,000 and created a tax base of well over $127 million in about 16 years.

TIF No. 4 and TIF No. 5 both closed in 2008 added over 12 percent to the property tax base of the community.The new tax base has been used to protect and enhance the quality of life in Sussex.  

Why is the Village focusing on this project and not the Cannery Development?

The Village is also considering the possibility of a TIF for the downtown development around Each TIF has its own rules and timing and are independent of eachother.  

What happens next?

The Village Board approved an Economic Development Grant on June 12, which starts a “duediligence” process where the Village explores the viability of the project and the proposed TIF District with the potential of a final project in September.