The Superior City Council on Tuesday, March 2, officially closed the tax increment district on Connors Point.
The district was created in the 1990s and helped develop businesses like Field Logic, Genesis and Exodus Global in the Connors Point Industrial Park. More than 250 jobs were created during the district's lifetime.
Next year, the businesses the tax district helped develop will go on the general tax rolls that support Superior schools, county and city government operations and Wisconsin Indianhead Technical College.
The council approved extending the life of the district in August to generate about $350,000 in revenue for affordable housing in Superior. About 80% of the funds derived from the extension will be used for affordable housing. The remaining balance will be used to improve the city’s existing housing stock.