GREEN BAY, Wis. (WFRV) – The City of Green Bay could more than double its affordable housing fund by keeping the I-43 Business Park tax increment financing district open for one more year.
On Aug. 12, the city’s Joint Review Board and Redevelopment Authority voted to approve an “affordable housing extension” for the district, which was created in 2005 to install roads, utilities and other infrastructure east of Interstate 43.
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The extension still needs final approval from the City Council.
Neighborhood Development Specialist William Peters said the move would bring in about $3.4 million in 2027 for the city’s Tax Increment District Affordable Housing (TIDAH) program — more than double the $1.7 million the fund has collected since it was created in 2021.
“This was a very productive TIF district,” Peters said. “Come 2027, it will bring us an additional 3.4 million dollars to invest in affordable housing.”
The business park has grown from a base value of $173.8 million in 2005 to an estimated $397.3 million in 2025, according to the Wisconsin Department of Revenue.
Development in the district includes Aurora BayCare Medical Center, Procter & Gamble’s distribution center and Marcus Green Bay East Cinema.
Under state law, at least 75% of the one-time revenue boost must be used for affordable housing. Peters said the city defines “affordable” as housing where rent and utilities cost no more than 30% of a household’s annual income, targeted toward households earning 80% or less of the area median income.
“The reality of it is, the cost to develop housing is increasing, and the amount of funds and grant dollars from the federal government is not increasing proportionally,” Peters said. “We need to be looking for additional tools to help keep the costs of those rents low and affordable.”
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Some residents have raised concerns online about whether the city’s definition of affordable housing matches what working families can pay. Peters said the TIDAH program’s guidelines are designed to ensure the funding benefits the intended households.
The City Council is expected to take up the proposal in the coming weeks. If approved, the funds would be available for eligible housing projects beginning in 2027.
