Many eyes sit on Bridgeview Plaza, on the City's Northside, for improving the entrance to the community. The strip mall was formerly home to Shopko along Hwy. 53 and I-90.
City of La Crosse Planning Director Andrea Trane stated the new, local owners of this property are working through some long-term lease issues in hopes their vision can become reality.
“This is identified as a significant node as part of the Highway 53 plan," said Trane. [see related story]. “We created a TIF to provide financial incentives to ensure this happens.
A TIF is a tax-incremental-finance district. It is one of the City's few tools to encourage development of commercial properties within set areas. As properties improve, their tax base increases. While the pre-improvement property taxes still go into the City's general fund, the community places increased revenue due to improvements into a segregated account for a period of time (ex. 20 years). The City uses these funds to pay back infrastructure improvements (roads, sewer, parks, etc.) or other improvements in the designated district.