They're confusing to many people, but special tax districts play an essential role in business development.  As the City of Superior seeks ways to promote the cities economy, they're hoping that those tax districts can help with developing two specific areas of town.

Preliminary approval was given by the Superior Plan Commission to create a special tax district for the area that lies to the North of 28th Street and along Bardon Avenue, and also for the Winter Street Industrial Park.  At their meeting on May 19, the commission granted the approval for the tax district effort to advance to its next steps.

According to the Superior Telegram - each of the areas for development would be used in slightly-different ways, but the end results - economic growth - would be the final result..  At the Winter Street Industrial Park, city leaders hope to encourage both commercial and industrial development with a variety of businesses on track.  While the 28th Street/Bardon Avenue area would be open to commercial development, there would be room for some residential development as well.

Both sites would be beneficial to city finances once fully-developed.  Estimates in that article in the Telegram detail that the Winter Street Industrial Park could "generate about $19 million in new value and [would be] expected to generate about $6.9 million in revenue over the 20-year life of the district".  Meanwhile the 28th Street/Bardon Avenue site "could generate about $14 million in new value and generate $7.4 million in revenue over the 27-year life of the district" - upon creation of a "blight elimination district'; the Bardon Avenue site was recently had a declaration of blight assigned to it by Superior's Redevelopment Authority.

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So what's the next step?  Action from the Superior City Council.  Both of the special tax increment districts are on the agenda for future action.

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