|Base Value (2014)||$1,126,752|
|Current Value (2016)||$1,215,100|
|Original Property Taxes||$31,741|
|Projected Property Taxes||$335,833|
TID Expiration: 2033
Due to the outdated nature of the buildings and their economic inefficiencies, Metal Technologies ceased operations at its Milwaukee Ductile Plant within West Allis at South 68th Street and West Mitchell Street in 2009, resulting in the loss of 215 jobs. The corporation then moved significant amounts of materials and equipment out of this facility, leaving a largely vacant and aging industrial site within the middle of a residential neighborhood. The properties were placed on the market and only received interest by a salvage company. The properties were ultimately sold to Midwest Rail and Dismantling for scrap value.
Environmental conditions will need to be fully investigated and remediated, in order to facilitate redevelopment.
Without a concentrated effort from the City, the redevelopment of the properties within this district would continue to blight the neighborhood. In order to prevent this from happening and facilitate useful redevelopment, the City implemented this tax incremental financing district to help reposition it for a higher and better use.