Kenosha To Refinance Debt, Create New TIFs

The Kenosha City Council approved refinancing the city debt in a plan that will also set money aside for redevelopment at the Chrysler Plant site and some rehabilitation downtown. About five-point-three million dollars will be refinanced at a lower interest rate. Two-point-three million will also finance TIF districts with a million going to rehab the former Gateway Mortgage Building on 60th and 500-thousand dollars funding a research facility study for the engine plant site. 250-thousand dollars will also go to rehab the Alford Building downtown. The refinancing is expected to save the city 100-thousand dollars.

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