TIF deal worth $4.25 million is a new high for Port

TIF deal worth $4.25 million is a new high for Port

March 20, 2019

When the Port Washington Common Council approved tax incremental financing for Ansay Development’s Newport Shores project, it was approving the largest incentive plan for a developer in its history.

If the project is valued at the $20 million projected by Ansay, the developer would receive more than $4.25 million — $304,000 annually for 14 years — from the TIF while the city would reap $224,000 — $16,000 annually.

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