Tax Incremental Districts Joint Review Board

AGENDA OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD THURSDAY, SEPTEMBER 15, 2022, 10:00 AM Virtual Meeting. Public may join via Zoom. A. Zoom Meeting Instructions. 1. This item contains Zoom information, instructions, and a link to the Virtual Comment Form. B. Roll Call. 1. Members: Diana Ellenbecker, City of Green Bay; Bradley Klingsporn, Brown County; Joshua Patchak, Green Bay Area Public School District; Daniel Mincheff, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. C. Approval of the Agenda. 1. Approval of the agenda for the September 15, 2022, meeting of the Tax Incremental Districts Joint Review Committee. D. Approval of Minutes. 1. Approval of the minutes from the June 23, 2022 meeting. E. Regular Business. 1. Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Four (4) Downtown to TID Twenty-Two (22). 2. Consideration with possible action to amend the Project Plan for TID Ten (10) Main Street and East Mason Street to add eligible projects. 3. Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Twelve (12) I-43 Industrial Park to TID Twenty-Two (22). 4. Consideration with possible action to adopt a Resolution extending TID Fourteen (14) North Broadway Corridor by three years. Agenda of the Tax Incremental Districts Joint Review Board September 15, 2022 Page 1  5. Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-four (24), Cherry Street, and adopt the Project Plan. 6. Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-five (25), Grandview Industrial Park, and adopt the Project Plan. F. Informational. 1. Set next meeting date, time and format. G. Adjournment. 1) THIS MEETING IS RECORDED: THE VIDEO OF THIS MEETING AND MINUTES ARE AVAILABLE ONLINE AT www.greenbaywi.gov 2) ACCESSIBILITY: Any person wishing to attend who requires special accommodation because of a disability, should contact the City Safety Manager at 920-448-3125 at least 48 hours before the scheduled meeting time so that arrangements can be made. 3) QUORUM: Please take notice that a majority or quorum of the Common Council will attend this Tax Incremental Districts Joint Review Board meeting and will constitute a meeting of the Common Council for purposes of discussion and information gathering relative to this agenda. 4) REPRESENTATION: The party requesting the communication, or their representative, should be present at this meeting. 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If you’re using a smartphone, look at your screen and click the Mute button  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 AGENDA ITEM # D.1 Approval of the minutes from the June 23, 2022 meeting. BACKGROUND RECOMMENDATION FISCAL IMPACT ATTACHMENTS 1. JRB Minutes 06.23.22 with Verbatim 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  MINUTES OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD THURSDAY, JUNE 23, 2022, 2:00 PM Virtual Meeting. Public may join via Zoom. A. ZOOM MEETING INFORMATION. 1. This item contains Zoom information, instructions, and a link to the Virtual Comment Form. B. ROLL CALL. 1. Members: Diana Ellenbecker, City of Green Bay; Bradley Klingsporn, Brown County; Josh Patchak, Green Bay Area Public School District; Bob Matthews, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. Present: Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, Bob Mathews, Excused: C. APPROVAL OF THE AGENDA. 1. Approval of the agenda for the June 23, 2022, meeting of the Tax Incremental Districts Joint Review Committee. Moved by Bradley Klingsporn, seconded by Brent Weycker to approve the agenda. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. D. APPROVAL OF MINUTES. 1. Approval of the minutes from the June 23, 2021 meeting. Moved by Bradley Klingsporn, seconded by Josh Patchak to approve the minutes. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None.  E. REGULAR BUSINESS. 1. Consideration with possible action on the 2021 Annual Report on Tax Increment Finance Districts in the City of Green Bay. Moved by Bradley Klingsporn, seconded by Bob Mathews to receive and place on file. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 2. Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Four (4) Downtown. Moved by Josh Patchak, seconded by Bradley Klingsporn to hold until the next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 3. Consideration with possible action to amend the Project Plan for TID Ten (10) Main Street and East Mason Street to add eligible projects. Moved by Bradley Klingsporn, seconded by Josh Patchak to hold until the next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 4. Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Twelve (12) I-43 Industrial Park. Moved by Josh Patchak, seconded by Bob Mathews to hold until the next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 5. Consideration with possible action to extend TID Fourteen (14) by three years, and adopt an Allocation Amendment Resolution and amend the Project Plan for TID Fourteen (14), the North Broadway corridor. Moved by Josh Patchak, seconded by Bradley Klingsporn to hold until the next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 6. Consideration with possible action to adopt an Allocation Amendment Resolution and amend the Project Plan for TID Twenty-Two (22), the Shipyard. Moved by Bradley Klingsporn, seconded by Bob Mathews to hold until the next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 7. Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-four (24), Cherry Street, and adopt the Project Plan. TID 24 is generally located in the area north of E. Walnut Street, south of Northland Ave, west of N. Adams Street, and east of N. Washington Street. TID 24 will be classified as a mixed-use district based on the identification and classification of the property proposed to be included within the TID. Proposed projects include cash grants and loans to owners, lessees, or developers of property within the TID; road, pedestrian, bicycle, and other transportation improvements; potable water, sanitary sewer, and storm water infrastructure; environmentally sustainable infrastructure, public spaces and amenities; land acquisition, environmental remediation, structural rehabilitation, and new construction; and administration. The proposed costs include projects within the proposed boundary and within a one- half (1/2) mile radius of the proposed boundary of the TID. Moved by Josh Patchak, seconded by Bradley Klingsporn to hold until next Joint Review Board meeting. Motion Passed. Yes- Bob Mathews, Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 8. Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-five (25), Monroe Street, and adopt the Project Plan. TID 25 is generally located in the area east of N. Monroe Avenue, south of Main Street, west of N. Quincy Street, and north of Cherry Street, plus a portion west of N. Monroe Avenue, south of Main Street, and east of N. Madison Street. TID 25 will be classified as a mixed-use district based on the identification and classification of the property proposed to be included within the TID. Proposed projects include cash grants and loans to owners, lessees, or developers of property within the TID; road, pedestrian, bicycle, and other transportation improvements; potable water, sanitary sewer, and storm water infrastructure; environmentally sustainable infrastructure, public spaces and amenities; land acquisition, environmental remediation, structural rehabilitation, and new construction; and administration. The proposed costs include projects within the proposed boundary and within a one-half (1/2) mile radius of the proposed boundary of the TID. Bob Matthews left the meeting at 3:00 p.m. Moved by Josh Patchak, seconded by Bradley Klingsporn to hold until the next Joint Review Board meeting. Motion Passed. Yes- Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. 9. Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-six (26), Grandview Industrial Park, and adopt the Project Plan. TID 26 is generally located in the area east of Erie Road, south of E. Mason Street, west of S. Northview Road, and north of Padi- Wood Lane, plus a portion east of S. Grandview Road, north of Finger Road, and west of S. Northview Road. TID 24 will be classified as a mixed-use district based on the identification and classification of the property proposed to be included within the TID. Proposed projects include cash grants and loans to owners, lessees, or developers of property within the TID; road, pedestrian, bicycle, and other transportation improvements; potable water, sanitary sewer, and storm water infrastructure; environmentally sustainable infrastructure, public spaces and amenities; land acquisition, environmental remediation, structural rehabilitation, and new construction; and administration. The proposed costs include projects within the proposed boundary and within a one- half (1/2) mile radius of the proposed boundary of the TID. Moved by Bradley Klingsporn, seconded by Josh Patchak to hold until the next Joint Review Board meeting. Motion Passed. Yes- Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. F. INFORMATIONAL. 1. Set next meeting date, time and format. The next meeting date will be confirmed, but is tentatively planned for August 18, 2022 or August 19, 2022. G. ADJOURNMENT. Moved by Bradley Klingsporn, seconded by Josh Patchak to adjourn. Motion Passed. Yes- Brent Weycker, Diana Ellenbecker, Josh Patchak, Bradley Klingsporn, No- None, Abstain- None. VERBATIM MINUTES - Okay, agenda. - Here we go. - Call the Tax Incremental District joint review board for Thursday, June 23rd, 2022. We'll go through roll call. We have a Bradley Klingsporn. - Here. - Josh Patrick. - Patrick here. - Thank you, Bob Matthews. - He's there, I see him. - Yep. Thumbs up. He's here. Yep. - Matt Winker? Yep see him. Okay. And then Diana Ellenbecker. So all 5 are here. All right. Entertain a motion to approve this. - Motion to approve. - Second. - We have a motion by Bradley and second by Brent. All in favor? - [All] Aye. - Motion approved. I'll entertainment to take a motion to approve the minutes from June 23 2021. - Motion to approve. - Second. - Alright we have a motion and a second? - Second. - Third. - Aye. - Aye. - Thank you that passes. - Aye. - Thank you. Right. We'll move on regular business. The first one was consideration with annual report on the TFI for the city of green bay. Is it gonna be okay if I, mute you? Or if you want to mute, for some reason we have feedback from her. Thank you. Certainly can unmute as you have questions. As you seeing in front of you, we have enough that we try to put our TIDs down and we have enough of them. We try to put them on one spreadsheet to make it a little bit easier to look at what I'm gonna go through is a very, very high level of our 2021 annual report. However, you can stop, ask any questions or you can wait till the end, ask some questions. I don't wanna bore you with all our TID's, but as you see the way we pull it together, we have a TID on the left number, the type of TID we have the name, we have the creation date, the term date. We have the fund balance at the beginning of the year of 2021, that we kinda recap of where our different revenue sources are coming in. Most of them, the majority typically is tax increment. We have some interest, shared revenue is really, the term has changed, but it's really property tax. Personal property and or exempt computers that share a column. Then we have some developer agreements and then we have, if we borrowed or some other revenue source. So that is in that revenue section. And then we have expenditures. We have capital land purchases. We have debt in the interest that goes along with that. And we have some, either development finance and or PayGos that goes through that column. And then we have other payments that go out the door and that'll give you what, how we ended the 2021 year. Then you have the column of future project costs and the future revenues. Do you want me to go through each one and kind of talk about the highlights in those items? In each one of the TIDs, I'm really gonna talk about the financials. Neil's gonna talk a little about some of the things that are on the development side. Do I have any feedback, do you want me to go through at a very high level by TID? Or do, would you like to receive and place on file, or have questions? - Is there anything at risk Diana? - At risk? - Yeah. You're showing surplus in all of them, I'm just saying, is there anything that- it looks like you're pretty much working back to, to break even but is there anything that's that's of concern from the, from green based perspective on any of the TIDs out there? - No. What, what I would say is, as you're seeing our TID 13 is a negative fund balance, but what we're seeing by 2023 or 2024, we believe that TID 13 is gonna turn positive. So that is some really good news, that's a large TID. It's a large increment that is starting to come in for that TID. So again, looking negative, but in a couple years, it's working its way out. TID 14 right now also has a large negative fund balance. Hasn't really moved. That one, we need to get some more increment. TID 14 is your North Broadway, what we call Larson Green. Really it's the rail yard now. Projects are started they just haven't completed. We just haven't seen enough increment to really get this one moving in the right direction there. There has been a lot of development, but we just need more projects completed. That one, I don't think there's a concern. The projects have to keep moving forward. And then the other one is 22, which is our shipyard. And that is an area in which the city is investing quite a bit of money in it. We have some large developments that are happening in that area, not a concern. That's just gonna be a large investment from the city to really get that shipyard up and running. Otherwise, we've heard that before, that a lot of the TIDs go down before they come back up and we are really starting to see some of our TIDs coming back up. If they were in a negative spot or vice, you know, in the last 2 development directors, we have worked really hard in majority of our TIDs to just do PayGos and very few upfront grant. So it's really a, a switch in how we are doing. The years have gotten better that our downtown and some of our other areas have improved. So we have switched to a different kind of funding mechanism. Otherwise I think we really don't have any large concerns for any of our TIDs. - Thanks for me. It would help if you wanted to go and just talk about how many of these are kind of locked in? Meaning like, if I look at TID 4, I imagine those future project costs are debt, service payments, and maybe developer grants or something like that, that we've already agreed to. So nothing's gonna change there. We have a pretty good idea what future project costs are gonna be. And based on the increment, we have a pretty good idea what revenues are. So that's kind of locked in, but then when you look down further at shipyard and basically the shipyard and the legends maybe, those estimates are a whole lot more, "this is kind of how we're feeling about things" and not quite as concrete. Maybe if you could just say, all right, TIDs 4,5, etc are locked in. And we're pretty certain on those numbers. And then the ones where we're actively working on development and the numbers are just kind of our best guess. - Yep, I actually went through on to each one of them this morning. So I think we're gonna be fine. TID 4 passes the expenditures period out of the 2.9 and the 2.95511 million is debt. And then there is also about 1.9 million. What we are looking at is a proposed allocation to a TID 22 that is later in this deck. So right now 1 million is locked in of that 2.9. That's assuming that we have what is left of increment, the 2.2 million in increment that is assuming 4 years of increment, but again, 1 million is locked in at debt. If we go to TID 5, of that 12.7 million, we have development agreements about just under a million dollars, we have about 6 and a half million that's locked in at debt. We also have some projects that were started before the expenditure period ended, and that is improvements to our lake park. And that is about $5 million, but that's all the changes that you've seen to allow that cruise ship that just came in this past week. And then there's some additional enhancements that are already in the works for lake park. So in this case, that is really the 12, 7, 6, over 6 and a half is debt development agreements, a million and there's improvements to the park that have already been started. We'll continue on then. TID 7,8 and 9 were officially closed in 2021. So we have closed them officially, shut them down and have zeroed out those balances if there were any outstanding debt service, it will get moved to our debt service account. So those have officially been closed. When we get into TID 10, 4.2 million. In that case, the majority of that is future infrastructure needs. That is a corner of Main and Mason. We have a lot of flooding down there. So our director of public works is working on some projects to try to help reduce, not eliminate, of course we can't, but try to reduce, try to help curb some of the flooding down there. So at that point, those are future project costs. Those are truly infrastructure, project costs, no other dollars are actually obligated at this point. And that would be assuming still another 10 years, the increment side of 3.2, that is assuming 10 more years worth of increment at roughly, 250- $300,000. If we continue onto to TID 12, that expenditure period had ended in 2020. We still had some open projects for infrastructure near our nature's way. Their facility. At that point of the 10.575, that is still outstanding, 1.7 is still obligated for debt. We have an estimated 3.2 million for development agreements for really PayGo. And there is an allocation request or we'd be looking to potentially to do an allocation of 5.5 million to other TIDs. So really there's 5.5. That is probably unallocated for TID 12. That is assuming with 2022 and 2023 increment. We go onto TID 13 at 35 million. Large number, but 6.2 is estimated at the development agreements or PayGos. Point 3 is standing and the remaining 13.5 was intended to put toward ramp replacement downtown. So out of the 35.3 that you're seeing in TID 13, about 22 of it at is 0.5, we are looking forward to using that money toward a ramp replacement. That is an all incremented there that is assuming that this TID stays over the remaining 11 years. That makes up the 37.5 for revenue. I go to TID 14, that 13.3 outstanding development agreements is estimated about 5 million debt is about 6.3 million. And we assume that we have some additional project grants about 1.3 million in that, TID that makes up the 13 3 increment is assuming at 12 additional years makes up the 16.1. TID 16. $10 million is the future project cost development agreements. Just about 200,000. We have outstanding one, 5.1 million in debt. And the 4.7 is looking to pay for additional infrastructure in the military corridor. So that is unobligated the 4.5, but that's an additional project class that we're looking to do in the military corridor. And that is assuming increment for the next 13 years to make the 9.5 million. If we go into number 18, that one, I think we have a negative fund balance, we turn positive. We expect to turn positive in 2024 cash flow on number 18. That one, 27 million is a large number. Correct, outstanding. We have development agreements of about 9.8 million projected. And those are obligated. And we are looking at future project costs of 17 million in that TID, as Bradley did explain earlier. We are starting to get some of our newer TIDs. These are additional projects that, we were possibly anticipating, but there's none of those in the 5th 17.3 are locked in at this time. 19, another newer TID that started in 17. That is our east home mall area out of the 8.7 million, 1.5 is locked into development agreements for PayGos and future project costs of 7.5. That is assuming about 23 more years worth of increment to get you to your 8.9. - And future project costs on that. Are you looking at future development agreements or infrastructure type projects for us? - It would be a little bit of both, as you see, there's some things happening in the east town mall area. I see Neil shaking his head, he is actually gonna touch on that when he gets to the east town mall area. But I'll let Neil just speak to your question Bradley. - Yeah, probably a little both Brad, the one thing that I think that's unique about this one is we're kind of focusing on what we're calling in lot development. So you kinda see where the new bank buildings going up, kind of on the inside ring there, we're kind of working with the developer there to actually establish a kinda a new row of development on there. They're facing a lot of the current mall projects right now. You guys remember probably the recently the developer actually kinda rezoned the back half of that building to actually get a semi-industrial tenant in the back of that, to get that all fully occupied. We're having preliminary conversations with the owner of the Shopco building in terms of what may happen there. I think the really kind part of is to prove that this tool actually works is when I think when 19 was created, they actually left off the frontage, the parcels that were on the frontage of Mason street. And when we get to slides later, I'll show you that. So a couple of those new buildings, like the Chipotle that just opened a couple of those buildings, those are not in TIF 19. Those are actually fully on the tax roll. So obviously from a passerby, it just looks like it's entirely all east town mall, but those new developments right on Mason street are not in the TID and those are actually on the tax roll. But the investment that's happening on the inside, I think is definitely positively affecting the investment that's happening on the roadway there. So probably a little bit of both, we've got some, pedestrian improvements and some other things we wanna make to kind of help make that more of that area done in there. There's always some storm water improvements we can make to make that a little bit better, but we're anticipating, if those inline's continue, we probably have some development incentives to do to help with those as well. - Thank you. - We're getting close to the end and then you can ask any more questions again, that certainly then would be fine. TID number 20 on the Whitney park at about $6 million, about $2 million is locked in for development agreements that are ready in place. And that is assuming about 8 million for additional project costs. We do additional development agreements. Neil's gonna kind of explain some of the newer TIDs we're putting together, and we're making them smaller. So in this case, there still is some additional lots that are looking to be developed in our Whitney's park area. But at this point that would be either 3.8 million in future project costs and or into additional development agreements. And that 6.1 million is increment over 23 years Going to green made packaging. That one is the large number there, but out the 52 million for future project costs, 38 million is locked into a development agreement. We have a large PayGo with green bay packaging. So out of the 52, 38 million is locked in with the green bay packaging. That leaves about 14.3 million for future project grants. At this point I'm not anticipating additional development agreements, but certainly as if you've driven down those roads, there's certainly some infrastructure, railroads, streets; improvements that could be done over by green bay packaging. So again, not locked in the 14.3, but some future project cost. That's assuming additional 23 years worth of increment. 22 is our shipyard. That is the one. At this point, it looks like positive fund balance, and we continue as a positive fund balance, but that is because our borrowing is ahead of our expenditures at this point, that one is going to be, in cost, put in from, by the city. Out of the 63 million that is right now projected as future cost project cost to date that is locked in at just under $10 million for the development or PayGos development agreements with PayGos. We are anticipating about $27 million in debt, and that would still free up our future project costs. For additional enhancements in that area. And the reason 59.9 million is we assume additional borrowing of up to about 11 million. We are anticipating grants of about 7 million for the shipyard and the water feature. And then the balance is estimated increment for the next 25 years for this TID. And then we'll go onto the last one, which right now is our legends district. At that point, the 11.7 is locked in at estimated development agreements or PayGos of 5 million. Those are the items that are already locked in, and that would leave an allowance for about $6 million of project costs. Within that, we also have a lighting project that's going on. That's also in those future project costs. So far we haven't had a lot of development in that area. So I certainly can think that if we have more development, we'd have more allocation to development agreements or PayGos, but also we probably have increased increment, but that is not built in, but either way out of the 11.7, 5 million is locked in and then 6 million is for future project costs. That is assuming an increment of 24 over the next 24 years of projects that are already in the works or that we're aware of. Any questions from any of the members on the results from 2021? - I'm just gonna quickly zip through these, then. Diana covered a lot of the information. Oh, go ahead. - Hang on. We have these all separate items. So we really would have to entertain a motion to receive in place and file this report. - I guess, Diana, before we do that, I did have one financial related question for 13. There was a payment to Foxcon and I was just wondering what it was that they had done in TID 13 that justified the, the 54,952 paid to them. - That's an interesting one. The city of green bay is on the hook for the property tax bill for the parking ramp. That is the river ramp. It was an agreement prior to Foxcon that we thought we were going to be getting the parking ramp. So I'm not sure exactly how that all happened, but we have a development agreement slash parking agreement that we, the city maintains the building. There's some payments that go back and forth on the, on that parking ramp. But the 54,000 is actually really not a developer. It's really paying for the property tax bill on the river ramp. - OK. So that really didn't, it didn't go to them for doing anything. It just wiped out the property tax bill for the parking ramp? Yeah. - Essentially. Yes. - Unfortunately they haven't. Yes. They haven't done anything. So yes. We're not paying them for any services or any development that they have done. - But they do own that. Or they have some sort of. - They do still own the property, yes. - Okay. All right. Thank you. I'll have a motion to approve. - I'll second. - Alright we have a motion by Bradley, a second by Bob. Any other questions otherwise all in favor? - [All] Aye. - That passes. - Okay. - Then item number 2 consideration with possible action to adopt, or did you just wanna run down through the TIDs? - Yeah, yeah, absolutely. So just as again, I think Diana covered most of this, but this is in the annual port, but again, this is just kind of the general location of where all our districts are at. Here's TID 4. It's downtown, no significant development looking at possible allocation closes in 2025. TID 5 is kind a weird one, more Frankenstein shaped one. It kind of crosses the river goes both sides here, this is where certainly the light wall dock improvements that you mentioned was a big hit with the cruise ship. Second one I think is coming in on June 30th already. So that's a, a good sign. The company had a good experience with that. I did want make a note on the one Astra project that's in this area south of Mason has been delayed. So the developer's kind of working on getting some new financing and doing some things there. So we're hopeful that that comes back next year, but we're not positive exactly where that's gonna come from. And obviously the public market project and the private development project associated with that. That's within this district. However, if we were gonna do a deal that would certainly probably require a separate TID going in the future, probably in overlay in a separate development agreement, which is not in place, but have we have had preliminary discussions on that one, but certainly nothing, nothing in, in force at this point. So again, the expenditure period is done and it closes in 26. TID 10. Several smaller retail infield projects are being looked at in this area. the big expenditure again is Dianne is probably more storm water improvements, hopefully for this area, just because of the flooding that does happen in this area. Looking to close that in 31. TID 12. This is the I 43 business park. You know, the nature's way project infrastructure was the main thing that's driving that one right now. Latest closure on that one is 25. 10 district 13. This is important, certainly because not only it's existing area, but also because of the WPS site here in this area here. Part of this area is in for that we had just very preliminary discussions on that site. Really kinda just looking at preliminary land use concepts with, with the developer, as well as just kinda coming up with the plan for environmental mediation on the site. Definitely looking at this area for how to accommodate some parking in the future that has to do with certainly obligations with the main street ramp going away possibly, and then identifying another location for new parking. So the main street, specifically that actually goes to Schriber at their request within the next 10 to 12 years if they ask for it. Essentially we'd have to knock that building down and give them that site for future expansion. Last conversation we've had with them is they have no intention of exercising that right now, I think their office building is set up for 800 people. They've got about 500 on staff right now, about a hundred people actually on site. So they don't have a whole lot of need for the extra space right now, but that's certainly impacting our downtown. And we'd love to get a few more folks back in the offices to come out and have lunch during the day. Then that one closes in 32, here's TID 14, the rail yard working with them to do project financing for that project. We are in the middle of kinda renegotiating that development agreement. Project has received its WHEDA tax credits. So that's a great sign moving that one forward. Also working with them on active discussions on maybe a new corporate tenant for one of their buildings. So we are still seeing some good positive activity there. We haven't got the increment, we're working on getting that, moving forward, working very positively with the developer at this point, TID 16, Military avenue. I think the notable projects on this one is we got some outlaw development possibly at the former shop go site. HJ Martins also got a lot of development about lots kind of in these same areas where we're working on these. So we think we're very positive on the future of this district as well. Again, that closes in 34. TID 18. This is University avenue. This is the project, tuning properties. The folks remember it used to be TMD properties had a project here that kind of stalled and didn't go forward. We got a new development agreement in place with Tune-in properties to construct their side. They're going to be hopefully moving ground, hopefully this fall and then actually be under construction with their first phase in the spring. There's also a new vet clinic that's being evaluated for it, so a little bit more extra increment here in that area. We mentioned east town mall again here. I mentioned these white areas here, right on the frontage area. That's where some of the newer restaurants have built and located and are not within the tip district are coming fully on the tax roll, but I think are benefiting from the investment activity that's happening within the district, right on the other side of it. Some of those in lots, the façade improvements mentioned the adjusted retail development. We expect that to continue. We hope the developers continue to attract other investors hopefully for that area. The TID should close in 2044. Here's Wendy park. I think Diana mentioned there's a couple of more opportunities for a few town homes to be built in this area. But right now there's nothing in the docket. We're hopefully gonna be continuing discussions with that developer to keep those moving at some point. They have met their minimum requirement I believe for their agreement, but they still have an opportunity to continue that development. So we hope to talk them into doing that. Green bay packaging- whoop, go ahead. - Neil has the response to those properties been strong? I mean, do they have high occupancy? - I think there's half of them have done very, very well. And half of them have been a little slow and we think primarily it's just due to price point difference between the 2 developers who worked in this area, but we certainly are still seeing plenty of demand. So we're confident that maybe if we can get this one developer who's been very successful, but maybe acquire the rest of the space that's available. He might be the one then to pull it off and try to get some additional projects going on there. So mixed results. We think primarily based on price point for the housing units. - OK. Thank you. - I mentioned green bay packaging here and in the shipyard, obviously lots of news going on here, phase 1 improvements or contract has just been awarded. So we'll be actually doing the public improvements here in the next couple of weeks, we'll get those started. That includes all the waterfront amenities, the marina, the kayak launch, the bike trail, some of the other seating area, right on the waterfront, that will be underway really here in the next 30 to 60 days. Phase 2 is already being planned. We have been essentially notified of potential award from the national park service from a 5 million grant for phase 2. So we're excited to see that and hopefully get that fully implemented to moving forward. Our private development, some updates on those: the merge urban development project are currently kind of reworking some of their soils costs on site. They had made some assumptions in terms of what the soil compaction level was on the site and found that it was not what they thought it was. So we're kind of working through with them on how to get that taken care of. We're hopeful that they're just gonna change their phasing around a little bit and hopefully should be getting moving here in the spring. Impact 7 is actually on the Badger sheet metal site across the street on Broadway. They are actually looking at doing an affordable housing project as well. They have, received their tax credits as well. We are looking at trying to figure out exactly how that project moves forward. We're readily under a planning option, a preliminary term sheet with that developer, hopefully having a development agreement with them in the next 30, 60 days. So a lot going on in this particular district. So we're excited to see some things finally get moving here on this one. Then obviously the legends district, the last one. The good news was the hotel groundbreaking was just this past what couple weeks ago. So they're under construction and they're moving forward. We are looking at some, several pedestrian trail and lighting improvements, as Diana mentioned for that corridor, getting going in the summer, early fall, that one closes in 46. So does anybody have any questions on any of those? I know we just raced through a lot of territory in not a lot of time. So if anybody has any questions I may answer, certainly let me know if you have anything, even after this meeting, I'd be happy to follow up on any status of any projects in these areas. - On the shipyard, those 2 developments that you mentioned. You said that we were working through some changes. Do we have any commitments? Is there a chance that they both fall through? - The merge urban development is actually under development agreement. So we have an agreement with them in place. We're looking at just modifying, primarily modifying the timeframe for them, certainly with costs being what they are, construction costs. There's always a little concern with that, but right now they have not given us any indication that they plan on not moving forward with the project. They're simply working through maybe a little bit of a schedule, change. Impact 7 we're been kinda working through them with their numbers and their financial model of what they're trying to bring forward, but they have been very persistent in trying to accelerate their project. So right now we're still confident. We don't have any reason to believe that they're going to delay and hopefully we'll be in and have something moving forward with them either this fall again, or early spring. I celebrate when I actually see the bull moving dirt and we know they've got their financing and everything's moving forward. So certainly in this economy with interest rates and everything else, until they're actually moving, and even the project's actually done, there's always some degree of risk I think in this day and age. - I think that's it then. We're going to the next section Diana. - Business item, number 2: consideration with possible action to adopt an allocation amendment resolution and to amend the project plan for TID 4 downtown. - We don't have a whole lot of of details on these at this point, because these are primarily tax amendments and most cases on these, they're not substantial documents. So for TID 4, as we mentioned before, would simply be an allocation amendment of revenues from 4 into TID 22. At this point for these and really all the subsequent reports on shown on the screen. Right now, we're just gonna be asking for a hold till the next joint review board meeting. Obviously the TID 4 balance, we feel could be a safety net for what we're looking to get completed in TID 22 with the shipyard. That's the short version of that one. Anybody have any questions on that one? - Well, I do have a question. In your projections that you have built in, are those allocations assumed in your projections? - Yes, they are. In the future project costs, that was kind of what Bradley had asked earlier. When we went through TID 4, we have 2.9 million future project costs. We have 1 million outstanding for debt. And then that is about 1.9 million as a proposed allocation to TID 22. So that is already built in over the course of the next 4 years. - Any other questions? - How much is the allocation from TID 12 to TID 22, please. - For TID 12 have we pulled the number for that one yet Diana? I can't remember if we did or not. I think we're actually looking through our TID 22. We have L as our financial consultant reviewing the overall TID 22 financial picture. So by the time we get to the RDA version of this, there will be a much more sound projection on what that's going to be. But I think we may have had a preliminary number at this point. I don't know if we had one. Do you remember if we put one in for that or not? - Yes. Out of the 10.5 million. That's outstanding on that. We're looking at for future project costs for TID 12, 1.7 is locked in for debt, 3.2 is estimated for PayGo. And that leaves about 5.5 million that we were looking to do an allocation amendment to TID 22. Yes, that is what we had discussed. There are some options with that one. You know, affordable housing but that right now there's out of that 10.5, 5.5 is not obligated as in, as an allocation amendment. - Okay. Thank you. - I guess, to follow up on that. So a bit with both TID 4 and TID 12 It looks like, if we didn't do an allocation to TID 22, some of those could be terminated. - Yes. Early. - This year. like they'll have enough to cover future costs based on the increments and what the balance was at 12, 31, 21, that they could cover all their future costs by the end of 2022. - Yeah, I think, go ahead, Diana. - That, that would be correct. Based on the fund balance of 740, we get another 500, in and the 22 would go into, by the end of 20. Yes. Based on future probability yes. TID 4 could be terminated by the end of 22 and still have a a slight positive fund balance without allocation amendment. - I'm not proposing that, I'm just trying to show what the decision is is. Do we keep these open to the end of their term in 2025? And then we can allocate 1.7 from TID 4 and 5.5 from TID 12 to give 7.2 million to TID 22, reducing the borrowing, especially with borrowing costs, being higher on this new TID and improve the financial viability of it, or do we terminate those right away and get our TID increments? That's the decision that the taxing authorities need to make. Is that accurate? - Absolutely Brad. Exactly. I said we're still cautiously optimistic that the increment that will come in from the projects we're working on will sail, look great. And we're coming back to you guys in 2 years saying, "you know what, guys, we're good." We can move this and everything worked the way we thought it was going to, just the uncertainty around the things you exactly mentioned, Brad, is kinda why we're looking at at least having these I guess as a safety net, if you will, to kind of make sure that those projects are paid for. - You're just pushing dollars out that would be received in another 20 years. So I'd like to understand if TID 22 is truly at risk that you, to the tune of, you know, $7.4 million, because it's fairly early for you to be calling that risk out. So what changed in your assumptions? - Yeah, I think the main thing that we're looking at right now is obviously, we've just had all of our borrowing approved for phase 1. So that borrowing is in place and we're proceeding with that, for phase 2, even with the $5 million grant coming in for the federal, there's a dollar for dollar match for that requirement. So we're certainly looking at having those while we're bringing in 5 billion, we still need to show the investment, to match of what the rest of that could be there. So that's certainly a driving factor. And then obviously we're looking at still some of the uncertainty around some of the environmental in that particular area, is well in terms of getting that resolved and until we actually have buildings in the ground, that increment is actually coming in. Certainly we're a little hesitant to say it's all gonna be all smooth sailing at this point, but an absolute fair question. Ellers is actually performing kind of an updated analysis for us on TID 22. So we'll, we will have a full, detailed financial for that by the time the RDA takes a look at this. And we'll certainly be sharing that with the members here as well. - Okay. Thank you. - I guess that kind of brings up the question of the timing of the transfer. Do you need this funds for activities that you'll be paying out in 2023? And so the transfer needs to happen now in 22 for you to have the cash into 22 or is this something- oh, go ahead, Diane. - Oh, I apologize. What I would be projecting out of the 1.9, I would say in 2022, we would have $1 million balance that would be transferred. The resolution that I would work with Neil to bring forward would be a million dollars at this point in 2022, that could go to TID 22, which would reduce our borrowing in 22 to pay for the shipyard. Again, as Neil just said, we just awarded a construction contract that we will have enough to pay probably out this year, but by spring we would have to pay out the balance. So we would be looking at potentially a million now, and then I, I would the remaining balance, which would be roughly 900,000 projected cash flow would be really 2025. So we would really be looking to split it half now and half in 3 years. This is what we've projected out for the over the next couple years. - Okay. - Other questions on TID 4. At this point, there's certainly, there's no approvals at this point. It would simply be asking this to hold this item to the next joint review board meeting for when we have a full draft project plan available with including the full financial analysis. That's the one that Bob is referring to. - Yes so I'm going to make a motion to hold until the next RDA or really the next JRB meeting. - JRB meeting. We'll be sharing full information by the time the RDA meeting rolls around with the joint review board. But the actual action would not be until the next JRB meeting. - Including at actual resolution then. - Yes. And that will include an RDA resolution and council resolution, assuming that those are both supported. - Move to hold. - Second. - Okay. So we had a motion to hold by Joshua. And was that Bradley that second it? - Yes. - Thank you all in favor. - [All] Aye. - That motion passes. - Thank you. - I will go to the next item. Number 3 for consideration with possible action to amend the project plan for TID 10 main street and East Mason projects. - Yeah, right now, as we said, our director, Steve Greneer and public works department is essentially kind of developing an updated storm water management plan for this area. And that's where the primary investment is going to be for this in particular. We are not anticipating any other really new projects at this time that we believe that they are primarily storm. There may be a street project or something else associated with a storm water project, but the storm water addition spin will probably likely be the main addition for this area. And again, we'll have a detailed map of, of what those might be in a list. Certainly coming up here shortly. We have a very preliminary estimate from director Greneer but he's looking to kind of finalize a map location as well as some more detailed cost estimates. - Motion to hold to the next joint review meeting. - Second. - All right. We have a motion by Bradley and second by Joshua. Any other discussion all in favor? - [All] Aye. - That passes, next item. Number 4 consideration with possible action to adopt an allocation amendment resolution to amend the project plan for TID 12, I 43 industrial park. - Essentially, this is the same report we did for TID 4 and for the same purpose we called through and we kind of finalized the financial projections on this; we'll determine final need and hopefully, maybe confirm the amount needed, at least for being considered for this allocation event. - So in the, in the packet, it looks like there's a possibility. This could go to TID 14 or TID 22. Is that still on the table? - I think right now we're looking at primarily 22. Initially, we looked at it as possibly be being 14 of them. But because of the next item we're looking at here on this item, we're looking at this point just allocating to 22, depending on what happens with the action on TID 14. - Move to hold to the next JRD. - Second. - We have a, a motion by Joshua, I believe second by Bob. - Yes. - And any other discussion? All in favor? - [All] Aye. - Motion passes. Number 5 consideration with possible action to extend TID 14 by 3 years and adopt an allocation amendment resolution and amend the project plan for TID 14, the north Broadway corridor. - And again, I think similar to what we said previously, Josh, you mentioned on this one, I think right now we're really just looking at a project plan amendment for the extension of 3 years on this one. Obviously I think this is something that this board has looked at previously, but we were looking at essentially now this time in terms of the pandemic and delays and the change in project financing and the loss of essentially 2 years of increment. Since I think this was discussed previously, we're back in front of this. The developer has provided the city with a cash flow analysis, documenting why they think they need this extension. We preliminary look on it. The staff is preliminary agreement that we agree with their analysis, but we are going to ask Ellers to take a look at that full cash flow analysis and provide that essentially at the time of when this comes back before this body. Actually at the time of the RDA public hearing to have that analysis completed and available. - I apologize for being new if this is obvious to other people, but in the, the annual report is the future revenue estimated? Does that assume the 3 year extension? - It does not. The 16.1 million that is out that we chose is for future revenue is increment for 12 years. And I made myself a note that does not include an extension. So it would have the extension. Good question. - Yeah. - Yeah. It does not anticipate an extension, it's not built in at this point. - Would this change any of the development terms? If we had the extra 3 years of increment of one and a half million dollars going into that, would you want to then propose infrastructure or is this just to have a buffer in case anything goes wrong? Because right now you're projecting a $13 surplus. - But essentially this is looking at what would be owed to the developer under there in terms of the incentive directly to the developer. That does include some infrastructure responsibilities on their end, Brad. So we're assuming as part of that, there are also other agreements in the rail yard that certainly could potentially benefit from this. But at this point we're looking at primarily the Ford at the rail yard being the primary beneficiary of that extension. If and when that gets passed, we've told the developer that BDL would sit down with them and actually reevaluate the existing agreements on a one by one basis. But we not giving automatic 3 year extension on all their projects automatically. - Okay. I'll move to hold to the next JRB. - Second. - We have a motion by Joshua second by Bradley. Any other discussion? All in favor? - [All] Aye. Any neighs? Motion passes. Number 6 consideration with possible action to adopt an allocation amendment resolution and amend the project plan for TID 22, the shipyard. - And our understanding is actually discussing legal counsel. If we put this in there, I don't believe an allocation amendment action is actually required for a recipient for a donor TIF to be a recipient. However, to be on the safe side, we've gone ahead and added this on here just to cover our bases. So assuming the other actions would move forward, we would also proceed with just make sure that we're, we're legally covered with any action we might need to do for TED 22s project and accept any funds. Subjects to direction by the city attorney. - It's a little odd to have those as separate items. - Yeah I agree, and Brad, tell me if I'm wrong. In our experience with the department of revenue, they like things being very specific. We're being a little bit overly specific in terms of saying, "Hey, we're acknowledging these guys are donating and we're acknowledging this one is a recipient." So we're just trying to make sure we cover our legal bases that we've adequately noticed. That's the intent of what we wanna do, but I fully agree. - It's just possible for the donor to pass and then the recipient to fail, which would be awkward. - Absolutely. Yeah. So if we determine the legal counsels is not needed, we'll report that as such at, at the next meeting. - I was wondering if we could, with these allocations, when we have these for consideration at the next meeting, if we could have the amount that would be an immediate transfer this year as separate consideration for an intention of future transfers. And I just think that the idea of transferring to avoid some borrowing costs in the shipyard makes a lot of sense financially, but we don't want to get into what Bob was getting at before. We don't want it to look like we're bailing out this brand new TID, they need our financial help. And so to say that we're gonna transfer things in 2025 kind of presupposes the financial condition of the shipyard at that point. Is that something that we would need, you know, a separate action on or what do the other members think of that proposal? - Yeah, I agree. I think the thing is, once the dollars get transferred, they're hard to get out because it closes at the end. So if we treat it as a financing mechanism, I'm much more supportive. Just taking cash and moving it in for rainy day, Not as interested. - Yes, I would agree. Actually on my cash flow, I have let's say TID 4, I show an estimated 1 million coming in or sorry, 1 million going out in 2022. And then I didn't show them another transfer until 3 years later. So when we were gonna bring that resolution through, it would probably would've been an ask for $1 million and not for the full 1 9. But we certainly can have the resolution stating what we're asking for now. And then if there's an anticipated and a future date for a future resolution, we would let you know what that is. But we wouldn't be looking for action on that at the next JRB. - Great. Thank you. - Any motion on this one? Number 6. - I have a motion to hold until the next meeting. - Second. - All right. We have a motion by Bradley second by Bob. Any other's discussion if all in favor? - [All] Aye. - Motion passes. - Super. - Number 7 consideration with possible action to adopt a creation resolution to establish TID number 24 cherry street and adopt the project plan. You need me to continue the whole item? - Nope, I can go ahead and list that one here. Just start off on some notes on this one. Staff has been, I think Diana mentioned before, we're trying to kind of identify smaller districts at this point rather than go out and grab everything just to kind of mitigate any risks of valuation going down. Just in terms of trying to be a little bit more conservative in terms of how we know it is, this process to amend a boundary is fairly straightforward. It's similar to what we're doing right now. And if we decide there's a good project and need to do that, you know, again, we feel very confident that we could bring that forward and present that to you guys at that time. So we think this is a good call again, in addition, we're looking at mixed use districts because they are shorter duration, usually 20 years versus other ones, I'll address that later on, possibly being a more of a rehabilitation district to get that a little bit extra time, depending on the cash flow, but obviously mentioned construction pricing is slowing projects. It has not canceled them yet, but it's certainly slowing them down and causing delays. The good news is with the districts. We'll be talking about here shortly. There is an anchor project that's kind of set up to help create increment right off the bat. So we're excited about that. They are not overly speculative. They have projects ready to go. The downtown TID will certainly be PayGo to the extent we can on anything related to the developer incentive and the industrial TID we're gonna be reviewing may have some minimal upfront costs. If there's some infrastructure things we need to do to accommodate that. But the very first item in this agenda item is the cherry street project. So folks know this is the here's the cherry street parking ramp. This is this here's this Adam street parking lot, 221 Cherry street here, Shower and Schumacher buildings are right here. The confetti's building, the old Vic theater is right here. So this is in a relatively small district, but again, very specific in its purpose of what we wanna do. So we talk about these areas projects, essentially looking at initially. Also when the draft plan was attached, looking at about 11.8 million of costs. Right now, we've got about $8-11.5 million of revenue coming in. We haven't done any other projections unlimited. We don't have full projects or evaluations listed in there. So we believe that will come up enough to cover the cost anticipated by the incentives on that. But that has not been quite finalized. We are also working with elders essentially to come up with a cashflow analysis for this particular district. So it is very small. There is a project that is proposed right here at 222 Cherry street. This is the boss's building we call it in terms of the single story building that normally, if you walk by here, you would see a single story retail structure right here. It's being proposed to add 5 stories to the top of that at this point, subject to final architectural was that we have a development agreement in place to provide incentives to assist with the cost of actually redoing this building. Apparently, historically, I think it did have a 4 to 5 story building. There was apparently a fire sometime in the past that took all the top floors off it and they never added them back on. So we're hopeful that the, the foundations are still good enough to be able to support a new project. I understand that they're still going back and kinda confirming and verifying that. Best case scenario, they would be able to do that. Worst case scenario, They would probably have to actually do full demolition on the current site and put a new foundation in for that particular structure. - You know what the projected price points are on those apartments? - I think they are supposed to be market rates, depending on the bedroom unit account, I do actually have it in their development agreement. Bob, I can forward those over to you, but I think they're kind of looking at the 80 to 120% of the area median income was kind what they were talking. So more moderate range. They're not gonna be super luxury ones. Just out past the affordable range. Which is kind of what we're seeing is more of a gap. We're doing a lot of investment in the lower end, not as much in the higher end, but in terms of pricing and so forth, we are seeing some projects that are going that direction. What's missing is this kind of area in the middle in terms of folks who are just, they're not qualified for the lower income programs, but they're not, certainly can't afford the top of the line. So there's kinda this middle gap and we feel this project would actually fit that perfectly. I think it's mostly just one and 2 bedroom units if I recall correctly. So probably in more of that 800 to 1200 bucks a month rent. I'm assuming at this point. - So just real quickly, you said Whitney way, some were some were selling quickly and others weren't. Is it a price point issue or is it a price for the quality issue? - Well, I certainly don't know about that second part, Bob, but there's certainly a price point. I thought what we have heard at this point from other folks is just a general price condition. Although certainly I know the quality of the one developer is certainly the one who's doing pretty well. It does build a nice unit and I think has been pretty successful with that. I am not familiar with the other developer quite as much. - OK. Only I'm asking is if Whitney's not that far away and you're putting in similar price point, it's either I've got poor quality for the price or, you know, or that price point isn't as, as in demand. - Absolutely. Fair question. From all of our market data and research we're seeing is that there's still pretty high demand for housing units. So it's surprising to see unless something's really out of whack price wise. It is surprising to not see those moving a little bit faster because it is a good location. It's a great project spot right next to the park. It's close to downtown. It's a good spot. So, absolutely a fair question. I wish I had a, a better answer for you. - That's fine. We'll have a chance to talk about it again. I apologize. I have to leave at 3. I have another appointment. - Okay. Just if I jump off, that's the reason why I'm not upset. - Okay. Fair enough. Thanks Bob. So any, any questions on the proposed hit 24 here. otherwise, similar to the other ones, we'd ask for just a motion to hold this to the next JRB meeting. - The concept we saw there, is that 222 and 221. - No, this is just 222, 221 is just a parking lot across the street from this project that does not have an active project being proposed at this point. The city's owns that lot. So we're actually likely to go out for an RFP to try to attract a developer to do something on that site. - And same thing you're looking for mixed use multifamily. - Ideally, I think this is a good opportunity to get some density downtown and maybe support some of the, the downtown businesses by getting a few more heads down there, living downtown here. Absolutely. - And that would be on the side of the existing Adam street parking lot. - Yes. Correct. - Okay. - To, to hold to the next meeting. - Second. - All right. We have a motion by Joshua and we have a second by Bradley. Any other question? Any other discussion, If not, all approve. - [All] Aye. - Okay. Number 8, consideration with possible action to adopt a creation resolution to establish TID number 25 Monroe street and adopted project plan. - Okay. Solona here's this is an also one. We have a specific project, lots right here owned by our redevelopment authority right now the 200 north Monroe project folks have seen that pop up in the news here within the last year or so. So a relatively smaller district kind of in between some of our other districts in this immediate area. We, trying with the area, we're looking at in until such time as other projects may come about. So again, that's the area. So we are looking at about 25 parcels, kind of looking at it as a mixed use district. However, we look at our cash flow life. We were assuming kind of a 27 year life. So if that's the case, this will end up being a conservation or rehabilitation TID at end of the day. This project has been the specific project on that location has been really experiencing some difficulties with their construction estimates. We have assigned development agreements subjects to a, a TID being created for this one, working with them on about a $2 and a half million gap. They are not asking for more TIF assistance. This is the good news. However, we are trying to find other financing options for them to essentially close the gap and complete their project. So we do have some opportunity if we really wanted to. And Diane cover your ears, because I think we kind of are comfortable with really where it's at. And fortunately the developer has felt that he really wasn't comfortable asking for any additional, knowing what we, the city's other projects have been requested for the area. So most of them have been in the 70% increment range. This one's actually at 75, so it's a hair higher, but in terms of just overall cash flow, we do feel that there's other projects kind of north up. And this, this is where this project is. There's nothing pending on these projects, but we do think there have been some discussions where additional increment is very likely to occur. So we are confident that there there'll be substantial revenue to cover any expenditures at this point. And again, we'll also be kind of taking care of having elders run a formal cash flow analysis for us on this part as well. There's just a rendering what that project would look like. So again, kind of a nice up on the Monroe, the tower scale, the 5 stories here, first floor retail, including kind of a grocery market space, possibly UWGB leasing some space here and then scaling it down to kind of this 3 story building again, where there's more residential kind of on the side. So very unique design, underground parking for a lot of the project, this is because outdoor patio area. And then there some onsite parking for the retail customers. So a really very exciting project. We're excited. Got a little bit more work to do with them to show UPEN the pencil, to get across the finish line. But we believe TIF contribution is pretty much locked in at this point. - Is there anything to include the Monroe apartments? - Oh, right. This one right here. Just because we've heard the conditions that we're dealing with over there right now, they're pretty rough in terms of, we think there's likely to be some sort of project happening there sometime in the future. There's nothing pending that we're aware of, but there has been a lot of action in terms of our inspection departments and things kind of having to come over there and do work there. So we're familiar. We're very familiar with its prime for redevelopment, especially if there's some activity. We do know that there's a builder actively looking at this corner of Maine in Monroe that if something could happen here, that there might be some incentive to grabbing something here on this particular site. Plus the value of this building is low enough. It's not likely to go any lower it's. I hope not. - It's zero. - Yeah. Is it still zero at this point? We're just kinda looking at this as we do think that it is a redevelopment opportunity and obviously if it's zero, there was no risk in including it in terms of evaluation. Nothing specifically pending that we're aware of at this point. Just, just being a bit speculative that something, could happen there. Any questions on 25? - A motion. - To hold to the next meeting. - Second. - Alright we had a motion by Joshua 2nd by Bradley to hold any other discussion, hearing none all in favor. - [All] Aye. - That passes. - Okay. Thank you. - Let me read. The last one consideration with possible action to adopt a creation resolution, to establish TID number 26 grand new industrial park and adopt the project plan. - Great. Thank you, Diana. This is essentially here. If folks are familiar, we've had had recent discussions and development agreement approved with carnivore meat company here at green green bank located here, primarily on these parcels right here. These are essentially city owned parcels that we have acquired for purposes of industrial development. So this is the location of where that project would go. The other areas you've identified here, staff has actually been in communication with, with these owners and that they have expressed an interest in possibly moving forward on development. So at this point, this is reviewing this as our phase 1 area essentially, of the growth park of this particular industrial area. So the I 43 park is simply kind of just off the screen over here, off to the left. So these particular owners, we feel that's a strong potential for add additional industrial development going forward. We do have essentially a development agreement with the the initial landowner. We're conservatively, assuming that there would be kind of a mirrored project occurring on some of those properties, obviously with the amount of land here, there should be multiple projects, occurring infrastructure is largely to this area. There's some things we'll need to extend to the south and maybe a little bit out to the west to ensure that it's available for the next phase of expansion for this area. But for the most part that most of the infrastructure needed in this area will kind of be to the south and possibly a, a bit of it to the east and west to provide some sort of spur connection for future industrial development here. So again, right now we anticipate just on the first project, the industrial project that has been approved at this point was again, Phil was a very competitive project but a very, very, I think beneficial cash flow for the city in terms of what its projection in projected increment would be. So we do suspect there should be sufficient, even just on a very conservative approach. We feel there's gonna be some substantial valuation and increment made to help cover the costs that we're projecting at this point. We'll be doing a full formal financial cash flow analysis as part of the final project. And this is the car project a little bit tough to see it's a great big long building. So here's kinda the building footprint on that particular site. Here's the actual building structure that is as proposed. They would like to be under construction like in the next couple weeks. So they're not messing around. - It says here, the description of the district. This is 26, right? - Yep. It looks like I got the wrong. - That's for the last one. - Right. Mainstream road that should not be in there anymore. That's the wrong descriptions. North and south of Mason street and Finger road. And then with Grandview here in the middle. Thank you for pointing that out. - Yeah. - This would be a standard industrial TID I think 20 years, for this one. - I would entertain a motion. - Motion to hold to the next meeting. - Second. - All right. We have a motion by Bradley second by Joshua. Any other discussion? If not all in favor. - [All] Aye. The motion passes. - Thank you. And I think just as from a wrap up here, Diana, this is akin. We're kind of looking at RDA meeting and public hearing on August 1st and public city council meeting the next day on August 2nd, looking at probably tentatively in our to checking availability for members here on the 18th or 19th of August. So we are planning on having a full kind of working draft of all the project plans, ready to go and resolutions by the August 1st meeting. So those packets should include that. We'll be including that and sharing that with joint review board members as well in case there's any questions. - Any other discussion, or that would be our last item, motion to adjourn. - So moved. - Second. - Motion by Bradley second by Joshua. All in favor. - [All] Aye. - Thank you everybody.  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.1 Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Four (4) Downtown to TID Twenty-Two (22). BACKGROUND Staff is proposing that $1 million ($1,000,000) from TID 4 be transferred to TID 22 to aid in the lost revenue due to project delays related to the pandemic, and the increase in materials cost for projects for public improvements in the Shipyard. Additional information will be presented at the meeting. RECOMMENDATION Approval of the Allocation Amendment Resolution and amendment of the Project Plan to allow for the allocation of funds from TID Four (4) to TID Twenty-Two (22). FISCAL IMPACT The City has contracted with Ehler's to provide the fiscal analysis confirming the financial viability of the proposed allocation amendment, and has confirmed that adequate funds are available in TID 4. ATTACHMENTS 1. Full TID 4 Amended Project Plan Document 2. 091522 JRB TID 4 Amendment Resolution 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  City of Green Bay Department of Community and Economic Development Tax Increment District Four (4) Downtown/ Washington Apartments Amended PROJECT PLAN Joint Review Board #2 City of Green Bay, Wisconsin September 15, 2022 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026 (p) 920.448.3400 (f) 920.448.3426 greenbaywi.gov Joint Review Board of the City of Green Bay Diana Ellenbecker, City of Green Bay Bradley Klingsporn, Brown County Josh Patchak, Green Bay Area Public School District Bob Mathews, Northeast Wisconsin Technical College Brent Weycker, Citizen Member Common Council of the City of Green Bay Eric Genrich, Mayor Jennifer Grant, District 1 Jim Hutchison, District 2 William Morgan, District 3 Bill Galvin, District 4 Craig Stevens, District 5 Steve Campbell, District 6 Randy Scannell, District 7 Chris Wery, District 8 Brian Johnson, District 9, Vice President Mark Steuer, District 10 Melinda Eck, District 11 Jesse Brunette, District 12, President Redevelopment Authority of the City of Green Bay Gary Delveaux, Chair Matt Schueller, Vice Chair Melanie Parma Alderperson Randy Scannell, District 7 Kathy Hinkfuss Deby Dehn Jessica Ganther This Project Plan was prepared by: Neil Stechschulte, Development Director Erin Roznik, Design Specialist David Buck, Principal Planner Diana Ellenbecker, Finance Director Joanne Bungert, City Attorney Tom Giese, Right-of-Way Specialist page 2 of 11 City of Green Bay Table of Contents Summary of Findings ..................................................................................................................................................................... 4 Proposed Amendment ................................................................................................................................................................. 5 Appendix A - Financial Analysis Appendix B - Public Notices Appendix C - RDA Resolution Appendix D - Common Council Resolution Appendix E - City Attorney Letter Appendix F - Joint Review Board Resolution TID 4 Amended Project Plan page 3 of 11 Summary of Findings 1. In accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Four (4), (“TID 4”), Downtown/Washington Apartments on January 20, 1998; and 2. The Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 4 on Monday, June 29, 2020; and 3. The RDA proposed allocating excess incremental property taxes from TID 4 to Tax Increment District Number Twenty-two (“TID 22”), the Shipyard; and 4. The RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 4.1. On August 9, 2022, at 1:30 p.m., in Room 604 of City Hall, 100 N. Jefferson St., held a public hearing on the proposed amendments to TID 4, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan; and 4.2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 4.3. On Friday, July 22, 2022, mailed, by first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 4.4. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 5. The Original Project Plan and the Amended Project Plan meet all the requirements of Wis. Stats. §66.1105, to wit: 5.1. An economic feasibility study; and 5.2. A detailed list of estimated project costs; and 5.3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 5.4. A map showing existing uses and conditions of real property within TID 4; and 5.5. A map showing proposed improvements and uses in TID 4; and 5.6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 4 will not exceed thirty-five percent (35%); and 5.7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 5.8. A list of estimated non-project costs; and 5.9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 5.10.A statement indicating how creation of TID 4 promotes the orderly development of the City; and 5.11.An opinion of the City Attorney that the Project Plan is complete and complies with Wis. Stats. §66.1105; and 6. The RDA makes the following findings as required by Wis. Stats. §66.1105, to wit: 6.1. The Amended Project Plan demonstrates that TID 4 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 6.2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 4 has satisfied all of its current year debt service and project cost obligations; and 6.3. Prior to the mandatory termination date of September 17, 2046, TID 22 will not have accumulated aggregate incremental property taxes equal to or greater than the amount of total project costs; and 6.4. The mandatory termination date for TID 4 is January 20, 2025; and 6.5. The mandatory termination date for TID 22 is September 17, 2046; and 6.6. Wis. Stats. §66.1105 permits the City to donate surplus funds from TID 4 to TID 22; and 6.7. That “but for” the adoption of an Allocation Amendment, the development projected to occur in both TID 4 and TID 22, as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 6.8. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in both TID 4 and TID 22; and page 4 of 11 City of Green Bay  6.9. The economic benefits of both TID 4 and TID 22, as measured by increased property value, employment, and income, 6.9.1. Are greater than the cost of the improvements identified in the respective Project Plans; and 6.9.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 6.10.The TID 4 and TID 22 Project Plans are feasible and in conformity with the City Comprehensive Plan. Proposed Amendment Amend the Non-Project Costs section of the TID 4 Project Plan to include an allocation, in an amount not to exceed one million dollars ($1,000,000.00), from TID 4 to TID 22, for the purposes of blight elimination in TID 22, which is consistent with the purpose for which TID 22 was created. TID 4 Amended Project Plan page 5 of 11  Appendix A Financial Analysis page 6 of 11 City of Green Bay City of Green Bay, Wisconsin Tax Increment District No. 4 Cash Flow Projection Projected Revenues Expenditures Balances Taxable General Obligation Refunding Bonds, Series 2012D Year Interest 1,975,000 Tax Earnings/ Other Total Dated Date: 06/05/15 Donations to Total Principal Increments (Cost) Revenue Revenues Principal TID 22 Admin. Expenditures Annual Cumulative Outstanding Year 2020 529,706 2,278 1,071 533,054 200,000 14,509 214,509 318,545 414,209 1,000,000 2020 2021 541,571 1,098 (3,320) 539,349 200,000 9,487 209,487 329,862 744,071 800,000 2021 2022 535,824 7,441 1,071 544,336 200,000 1,000,000 5,800 1,205,800 (661,464) 82,607 600,000 2022 2023 543,861 826 1,071 545,759 200,000 5,950 205,950 339,809 422,416 400,000 2023 2024 552,019 4,224 1,071 557,315 200,000 5,800 205,800 351,515 773,931 200,000 2024 2025 560,300 7,739 1,071 569,110 200,000 925,000 12,500 1,137,500 (568,390) 205,541 0 2025 Total 3,263,281 23,606 2,036 3,288,923 1,200,000 1,925,000 54,046 3,179,046 Total Notes: Projected TID Closure Bolded rows represent actual information per the TID Annual Report (Form PE-300). Page 1 7/19/2022  Appendix B Public Notices TID 4 Amended Project Plan page 7 of 11  Appendix C RDA Resolution page 8 of 11 City of Green Bay  Appendix D Common Council Resolution TID 4 Amended Project Plan page 9 of 11  Appendix E City Attorney Letter page 10 of 11 City of Green Bay  Appendix F Joint Review Board Resolution TID 4 Amended Project Plan page 11 of 11  Joint Review Board of the City of Green Bay RESOLUTION 2022-01 REGARDING AN ALLOCATION AMENDMENT FOR TAX INCREMENT DISTRICT NUMBER FOUR (4) DOWNTOWN (“TID 4”) September 15, 2022 WHEREAS, in accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Four (4) Downtown (“TID 4”), on January 20, 1998; and WHEREAS, the Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 4 on Monday, June 29, 2020; and WHEREAS, the RDA proposed allocating excess incremental property taxes from TID 4 Downtown to Tax Increment District Number Twenty-Two (2) Shipyard (TID 22”) for purposes of blight elimination and public infrastructure costs; and WHEREAS, the boundaries of TID 4 are not changing with the proposed amendment; and WHEREAS, on Thursday, June 23, 2022, the Joint Review Board (“JRB”) of the City of Green Bay convened to elect a Chair, select a public member to the Board, and discuss the proposed Allocation Amendment Resolution and amended Project Plan; and WHEREAS, the RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 1. On Friday, July 22, 2022, mailed, by both electronic means and first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 3. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 4. On Tuesday, August 9, 2022, at 1:30 p.m., held a public hearing on the proposed amendments to TID 4, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan, and then approved the Amended Project Plan for TID 4; and WHEREAS, the Original Project Plan document plus the Amended Project Plan addendum meets all the requirements of Wis. Stats. §66.1105, to wit: 1. An economic feasibility study; and 2. A detailed list of estimated project costs; and 3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 4. A map showing existing uses and conditions of real property within TID 4; and 5. A map showing proposed improvements and uses in TID 4; and 6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 4 will not exceed thirty-five percent (35%); and 7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 8. A list of estimated non-project costs; and 9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 10. A statement indicating how creation of TID 4 promotes the orderly development of the City; and 11. An opinion of the City Attorney that the Amended Project Plan is complete and complies with Wis. Stats. §66.1105; and WHEREAS, the RDA made the following findings as required by Wis. Stats. §66.1105, to wit: 1. The Amended Project Plan demonstrates that TID 4 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 4 has satisfied all of its current year debt service and project cost obligations; and 3. Implementation of some projects identified in TID 22 have been delayed due to economic conditions related to the COVID-19 pandemic, and funding such projects out of TID 22 would require the delay of closing of TID 22; and 4. The mandatory termination date for TID 4 is January 20, 2025; and 5. The mandatory termination date for TID 22 is September 17, 2046; and 6. Wis. Stats. §66.1105 permits the City to donate surplus funds from TID 4 to TID 22 as a blighted or rehabilitation TID; and 7. That “but for” the adoption of an Allocation Amendment, the development projected to occur in both TID 4 and TID 22, as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 8. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in both TID 4 and TID 22; and 9. The economic benefits of both TID 4 and TID 22, as measured by increased property value, employment, and income, 9.1. Are greater than the cost of the improvements identified in the respective Project Plans; and 9.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 10. The TID 4 and TID 22 Project Plans are feasible and in conformity with the City Comprehensive Plan. WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and WHEREAS, at its meeting on August 30, 2022 the Common Council of the City approved the amendment of the Non-Project Costs section of the TID 4 Project Plan to include an allocation, in an amount not to exceed one million dollars ($1,000,000.00), from TID 4 to TID 22, for the purposes of blight elimination and public infrastructure costs related to the implementation of Shipyard Phase I public improvements, which is consistent with the purpose for which TID 22; and BE IT FINALLY RESOLVED that the City is hereby authorized to transfer such funds as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.2 Consideration with possible action to amend the Project Plan for TID Ten (10) Main Street and East Mason Street to add eligible projects. BACKGROUND Staff is proposing that four million dollars ($4,000,000) in additional projects be added to the eligible projects list identified within TID 10. These include but are not limited to the following Public Works Improvements: storm water management, flood control, pedestrian enhancements, street improvements, public utility improvements, streetscape improvements and other general public infrastructure as may be needed throughout TID 10 to meet the redevelopment objectives for this area. These projects were delayed or have increased in cost due to the pandemic. RECOMMENDATION Staff recommends approval of the amendment to the Project Plan for TID Ten (10) Main Street and East Mason Street to add eligible projects as presented, and adopt the required resolution for the amendment. FISCAL IMPACT The City has contracted with Ehler's to provide the fiscal analysis confirming the financial viability of the proposed project plan amendment, and has confirmed that adequate funds are available in TID 10. ATTACHMENTS 1. Full TID 10 Amended Project Plan Document 2. 091522 JRB TID 10 Amendment Resolution 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  City of Green Bay Department of Community and Economic Development Tax Increment District Ten (10) Main Street and Mason Street Amended PROJECT PLAN Joint Review Board #2 City of Green Bay, Wisconsin September 15, 2022 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026 (p) 920.448.3400 (f) 920.448.3426 greenbaywi.gov Joint Review Board of the City of Green Bay Diana Ellenbecker, City of Green Bay Bradley Klingsporn, Brown County Josh Patchak, Green Bay Area Public School District Bob Mathews, Northeast Wisconsin Technical College Brent Weycker, Citizen Member Common Council of the City of Green Bay Eric Genrich, Mayor Jennifer Grant, District 1 Jim Hutchison, District 2 William Morgan, District 3 Bill Galvin, District 4 Craig Stevens, District 5 Steve Campbell, District 6 Randy Scannell, District 7 Chris Wery, District 8 Brian Johnson, District 9, Vice President Mark Steuer, District 10 Melinda Eck, District 11 Jesse Brunette, District 12, President Redevelopment Authority of the City of Green Bay Gary Delveaux, Chair Matt Schueller, Vice Chair Melanie Parma Alderperson Randy Scannell, District 7 Kathy Hinkfuss Deby Dehn Jessica Ganther This Project Plan was prepared by: Neil Stechschulte, Development Director Erin Roznik, Design Specialist David Buck, Principal Planner Diana Ellenbecker, Finance Director Joanne Bungert, City Attorney Tom Giese, Right-of-Way Specialist page 2 of 11 City of Green Bay Table of Contents Summary of Findings ..................................................................................................................................................................... 4 Proposed Amendment ................................................................................................................................................................. 5 Appendix A - Financial Analysis Appendix B - Public Notices Appendix C - RDA Resolution Appendix D - Common Council Resolution Appendix E - City Attorney Letter Appendix F - Joint Review Board Resolution TID 10 Amended Project Plan page 3 of 11 Summary of Findings 1. In accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Ten (10) (“TID 10”), Main Street and Monroe Street on August 17, 2004; and 2. The Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 10 on Monday, June 29, 2020; and 3. The RDA proposed adding Improvement #10: Other Public Infrastructure projects for purposes of storm water management, flood control, pedestrian enhancements, street improvements, public utility improvements, streetscape improvements and other general public infrastructure as may be needed to throughout TID 10 to meet the redevelopment objectives for this area. 4. The RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 4.1. On August 9, 2022, at 1:30 p.m., in Room 604 of City Hall, 100 N. Jefferson St., held a public hearing on the proposed amendments to TID 10, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan; and 4.2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 4.3. On Friday, July 22, 2022, mailed, by first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 4.4. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 5. The Original Project Plan and the Amended Project Plan meet all the requirements of Wis. Stats. §66.1105, to wit: 5.1. An economic feasibility study; and 5.2. A detailed list of estimated project costs; and 5.3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 5.4. A map showing existing uses and conditions of real property within TID 10; and 5.5. A map showing proposed improvements and uses in TID 10; and 5.6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 10 will not exceed thirty-five percent (35%); and 5.7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 5.8. A list of estimated non-project costs; and 5.9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 5.10.A statement indicating how creation of TID 10 promotes the orderly development of the City; and 5.11.An opinion of the City Attorney that the Project Plan is complete and complies with Wis. Stats. §66.1105; and 6. The RDA makes the following findings as required by Wis. Stats. §66.1105, to wit: 6.1. The Amended Project Plan demonstrates that TID 10 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 6.2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 10 is projected to satisfy all of its current year debt service and project cost obligations; and 6.3. Prior to the mandatory termination date of August 17, 2031, TID 10 is projected to have accumulated aggregate incremental property taxes equal to or greater than the amount of total project costs; and 6.4. The mandatory termination date for TID 10 is August 17, 2031; and 6.5. That “but for” the adoption of an Allocation Amendment, the development projected to occur in both TID 10 as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 6.6. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in both TID 10; and page 4 of 11 City of Green Bay  6.7. The economic benefits of TID 10 as measured by increased property value, employment, and income, 6.7.1. Are greater than the cost of the improvements identified in the respective Project Plans; and 6.7.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 6.8. The TID 10 Project Plans is feasible and in conformity with the City Comprehensive Plan. Proposed Amendment Amend the Project Costs section of the TID 10 Project Plan to include the following: Improvement #10: Other Public Infrastructure Location: District-wide Description: Other miscellaneous public infrastructure projects as may be needed to throughout TID 10 to meet the redevelopment objectives for this area. ($4 million) Public Works or Improvements: Storm water management, flood control, pedestrian enhancements, street improvements, public utility improvements, streetscape improvements and other general public infrastructure as may be needed throughout the TID 10 to meet the redevelopment objectives for this area TID 10 Amended Project Plan page 5 of 11  Appendix A Financial Analysis page 6 of 11 City of Green Bay City of Green Bay, Wisconsin Tax Increment District No. 10 Cash Flow Projection Projected Revenues Expenditures Balances Year Interest Tax Earnings/ Total G Bader 1901 Stormwater Total Increments (Cost) Other Revenue Revenues M Street Improvements Admin. Expenditures Annual Cumulative Year 2020 220,374 4,645 8,232 233,252 21,026 19,575 40,601 192,650 899,314 2020 2021 251,991 1,596 8,785 262,372 21,507 23,088 44,595 217,777 1,117,091 2021 2022 291,244 11,171 9,499 311,914 21,937 400,000 21,088 443,025 (131,111) 985,980 2022 2023 295,613 9,860 9,499 314,972 16,460 400,000 21,088 437,548 (122,576) 863,404 2023 2024 300,047 8,634 3,652 312,333 400,000 21,088 421,088 (108,755) 754,649 2024 2025 304,548 7,546 3,652 315,746 400,000 21,088 421,088 (105,342) 649,307 2025 2026 309,116 6,493 3,652 319,261 400,000 21,088 421,088 (101,827) 547,479 2026 2027 313,752 5,475 3,652 322,879 400,000 21,088 421,088 (98,209) 449,271 2027 2028 318,459 4,493 3,652 326,603 400,000 21,088 421,088 (94,485) 354,786 2028 2029 323,236 3,548 3,652 330,435 400,000 20,800 420,800 (90,365) 264,421 2029 2030 328,084 2,644 3,652 334,380 400,000 20,800 420,800 (86,420) 178,002 2030 2031 333,005 1,780 3,652 338,437 400,000 27,650 427,650 (89,213) 88,789 2031 2032 338,001 888 3,652 342,540 17,750 17,750 324,790 413,579 2032 Total 3,927,469 68,773 68,883 4,065,125 80,930 4,000,000 277,279 4,358,209 Total Notes: Projected TID Closure Bolded rows represent actual information per the TID Annual Report (Form PE-300). Page 1 7/19/2022  Appendix B Public Notices TID 10 Amended Project Plan page 7 of 11  Appendix C RDA Resolution page 8 of 11 City of Green Bay  Appendix D Common Council Resolution TID 10 Amended Project Plan page 9 of 11  Appendix E City Attorney Letter page 10 of 11 City of Green Bay  Appendix F Joint Review Board Resolution TID 10 Amended Project Plan page 11 of 11  Joint Review Board of the City of Green Bay RESOLUTION 2022-02 REGARDING A PROJECT PLAN AMENDMENT FOR TAX INCREMENT DISTRICT NUMBER TEN (10) (“TID 10”) September 15, 2022 WHEREAS, in accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Ten (10) Main Street and Mason Street (“TID 10”), on August 17, 2004; and WHEREAS, the Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 10 on Monday, June 29, 2020; and WHEREAS, the RDA proposed adding an addition project to the Project Cost section of the Project Plan for Other Public Infrastructure; and WHEREAS, the boundaries of TID 10 are not changing with the proposed amendment; and WHEREAS, on Thursday, June 23, 2022, the Joint Review Board (“JRB”) of the City of Green Bay convened to and discuss the proposed Project Plan Amendment Resolution and amended Project Plan; and WHEREAS, the RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 1. On Friday, July 22, 2022, mailed, by both electronic means and first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 3. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 4. On Tuesday, August 9, 2022, at 1:30 p.m., held a public hearing on the proposed amendments to TID 10, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan, and then approved the Amended Project Plan for TID 10; and WHEREAS, the Original Project Plan document plus the Amended Project Plan addendum meets all the requirements of Wis. Stats. §66.1105, to wit: 1. An economic feasibility study; and 2. A detailed list of estimated project costs; and 3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 4. A map showing existing uses and conditions of real property within TID 10; and 5. A map showing proposed improvements and uses in TID 10; and 6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 10 will not exceed thirty-five percent (35%); and 7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 8. A list of estimated non-project costs; and 9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 10. A statement indicating how creation of TID 10 promotes the orderly development of the City; and 11. An opinion of the City Attorney that the Amended Project Plan is complete and complies with Wis. Stats. §66.1105; and WHEREAS, the RDA makes the following findings as required by Wis. Stats. §66.1105, to wit: 1. The Amended Project Plan demonstrates that TID 10 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 10 has satisfied all of its current year debt service and project cost obligations; and 3. The mandatory termination date for TID 10 is August 17, 2031 and 4. That “but for” the adoption of an Allocation Amendment, the development projected to occur in TID 10, as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 5. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in TID 10; and 6. The economic benefits of TID 10 as measured by increased property value, employment, and income, 6.1. Are greater than the cost of the improvements identified in the respective Project Plans; and 6.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 7. The TID 10 Project Plan is feasible and in conformity with the City Comprehensive Plan. WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and WHEREAS, at its meeting on August 30, 2022 the Common Council of the City approved the amendment of the Project Costs section of the TID 10 Project Plan to include an amount not to exceed four million dollars ($4,000,000.00) for the purposes of additional public infrastructure costs related to the Main Street and Mason Street area, which is consistent with the purpose for which TID 10 was created.; and BE IT FINALLY RESOLVED that the City is hereby authorized to add eligible projects to the Project Plan as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.3 Consideration with possible action to adopt an Allocation Amendment Resolution and to amend the Project Plan for TID Twelve (12) I-43 Industrial Park to TID Twenty-Two (22). BACKGROUND Staff is proposing that some funds from TID 12 be transferred to TID 22 to aid in the lost revenue due to project delays related to the pandemic, and the increase in materials cost for projects in the Shipyard. RECOMMENDATION Approval of the Allocation Amendment Resolution and amendment of the Project Plan to allow for the allocation of funds from TID Twelve (12) to TID Twenty-Two (22). FISCAL IMPACT The City has contracted with Ehler's to provide the fiscal analysis confirming the financial viability of the proposed project plan amendment, and has confirmed that adequate funds are available in TID 12. ATTACHMENTS 1. Full Amended TID 12 Project Plan Document 2. 091522 JRB TID 12 Amendment Resolution 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  City of Green Bay Department of Community and Economic Development Tax Increment District Twelve (12) I-43 Industrial Park Amended PROJECT PLAN Joint Review Board #2 City of Green Bay, Wisconsin September 15, 2022 100 North Jefferson Street, Room 608, Green Bay, Wisconsin 54301-5026 (p) 920.448.3400 (f) 920.448.3426 greenbaywi.gov Joint Review Board of the City of Green Bay Diana Ellenbecker, City of Green Bay Bradley Klingsporn, Brown County Josh Patchak, Green Bay Area Public School District Bob Mathews, Northeast Wisconsin Technical College Brent Weycker, Citizen Member Common Council of the City of Green Bay Eric Genrich, Mayor Jennifer Grant, District 1 Jim Hutchison, District 2 William Morgan, District 3 Bill Galvin, District 4 Craig Stevens, District 5 Steve Campbell, District 6 Randy Scannell, District 7 Chris Wery, District 8 Brian Johnson, District 9, Vice President Mark Steuer, District 10 Melinda Eck, District 11 Jesse Brunette, District 12, President Redevelopment Authority of the City of Green Bay Gary Delveaux, Chair Matt Schueller, Vice Chair Melanie Parma Alderperson Randy Scannell, District 7 Kathy Hinkfuss Deby Dehn Jessica Ganther This Project Plan was prepared by: Neil Stechschulte, Development Director Erin Roznik, Design Specialist David Buck, Principal Planner Diana Ellenbecker, Finance Director Joanne Bungert, City Attorney Tom Giese, Right-of-Way Specialist page 2 of 11 City of Green Bay Table of Contents Summary of Findings ..................................................................................................................................................................... 4 Proposed Amendment ................................................................................................................................................................. 5 Appendix A - Financial Analysis Appendix B - Public Notices Appendix C - RDA Resolution Appendix D - Common Council Resolution Appendix E - City Attorney Letter Appendix F - Joint Review Board Resolution TID 12 Amended Project Plan page 3 of 11 Summary of Findings 1. In accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Twelve (12) (“TID 12”), I-43 Industrial Park on January 20, 1998; and 2. The Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 12 on Monday, June 29, 2020; and 3. The RDA proposed allocating excess incremental property taxes from TID 12 to Tax Increment District Number Twenty-two (“TID 22”), the Shipyard; and 4. The RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 4.1. On August 9, 2022, at 1:30 p.m., in Room 604 of City Hall, 100 N. Jefferson St., held a public hearing on the proposed amendments to TID 12, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan; and 4.2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 4.3. On Friday, July 22, 2022, mailed, by first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 4.4. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 5. The Original Project Plan and the Amended Project Plan meet all the requirements of Wis. Stats. §66.1105, to wit: 5.1. An economic feasibility study; and 5.2. A detailed list of estimated project costs; and 5.3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 5.4. A map showing existing uses and conditions of real property within TID 12; and 5.5. A map showing proposed improvements and uses in TID 12; and 5.6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 12 will not exceed thirty-five percent (35%); and 5.7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 5.8. A list of estimated non-project costs; and 5.9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 5.10.A statement indicating how creation of TID 12 promotes the orderly development of the City; and 5.11.An opinion of the City Attorney that the Project Plan is complete and complies with Wis. Stats. §66.1105; and 6. The RDA makes the following findings as required by Wis. Stats. §66.1105, to wit: 6.1. The Amended Project Plan demonstrates that TID 12 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 6.2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 12 has satisfied all of its current year debt service and project cost obligations; and 6.3. Prior to the mandatory termination date of September 17, 2046, TID 22 will not have accumulated aggregate incremental property taxes equal to or greater than the amount of total project costs; and 6.4. The mandatory termination date for TID 12 is September 6, 2025; and 6.5. The mandatory termination date for TID 22 is September 17, 2046; and 6.6. Wis. Stats. §66.1105 permits the City to donate surplus funds from TID 12 to TID 22; and 6.7. That “but for” the adoption of an Allocation Amendment, the development projected to occur in both TID 12 and TID 22, as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 6.8. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in both TID 12 and TID 22; and page 4 of 11 City of Green Bay  6.9. The economic benefits of both TID 12 and TID 22, as measured by increased property value, employment, and income, 6.9.1. Are greater than the cost of the improvements identified in the respective Project Plans; and 6.9.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 6.10.The TID 12 and TID 22 Project Plans are feasible and in conformity with the City Comprehensive Plan. Proposed Amendment Amend the Non-Project Costs section of the TID 12 Project Plan to include an allocation, in an amount not to exceed two million dollars ($2,000,000.00), from TID 12 to TID 22, for the purposes of blight elimination in TID 22, which is consistent with the purpose for which TID 22 was created. TID 12 Amended Project Plan page 5 of 11  Appendix A Financial Analysis page 6 of 11 City of Green Bay City of Green Bay, Wisconsin Tax Increment District No. 12 Cash Flow Projection (Page 1 of 2) Projected Revenues Expenditures Taxable GO Bonds, Series GO Ref Bonds, Series GO Ref Bonds, Series GO Ref Bonds, Series GO Ref Bonds, Series GO Bonds, Series 2006A GO Bonds, Series 2007A 2009A 2012B 2013A 2014D 2015A Year Interest 80,000 480,000 468,050 4,484 98,645 734,543 311,936 Tax Earnings/ 2009A BAB Other Total Dated Date: 04/05/06 Dated Date: 06/05/07 Dated Date: 06/09/09 Dated Date: 05/01/12 Dated Date: 02/05/13 Dated Date: 09/09/14 Dated Date: 05/25/15 Increments (Cost) Subsidy Revenue Revenues Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest 2015 770,139 26,187 26,365 478,082 1,300,773 10,000 213 65,000 10,432 62,260 90,798 698 3,254 1,279 1,465 4,924 20,475 3,228 2016 657,518 23,145 25,660 310,372 1,016,695 70,000 1,444 62,260 88,572 989 3,234 16,648 1,375 6,087 19,183 5,072 6,198 2017 810,096 47,418 26,539 350,857 1,234,910 64,480 86,115 957 3,210 16,117 1,171 5,833 19,064 73,889 5,408 2018 1,576,482 67,002 357,426 2,000,909 65,590 83,415 909 3,182 15,606 933 6,000 18,946 77,000 3,899 2019 1,789,017 89,993 421,323 2,300,333 68,930 80,419 882 3,155 15,294 701 6,731 18,818 75,962 2,370 2020 2,102,259 23,933 429,463 2,555,655 826 3,130 14,862 438 6,829 18,682 79,024 820 2021 2,454,267 6,050 439,423 2,899,739 938 3,103 14,464 145 87,965 17,734 988 15 2022 3,101,228 38,629 442,140 3,581,996 15,763 2,774 94,000 15,914 2023 3,147,746 11,892 442,140 3,601,778 20,806 2,147 102,105 13,698 2024 3,194,962 42,252 3,237,214 20,458 1,528 101,010 10,907 2025 3,242,887 68,985 3,311,872 20,146 919 99,038 7,906 2026 3,291,530 96,399 3,387,930 19,722 308 103,056 4,875 Total 26,138,131 541,884 78,564 3,671,226 30,429,804 10,000 213 135,000 11,876 323,520 429,320 103,094 29,943 94,271 6,227 623,578 186,202 311,936 21,938 Notes: Page 1 7/19/2022 Tax Increment District No. 12 Cash Flow Projection (Page 2 of 2) Expenditures Balances GO Ref Bonds, Series 2019A MRO's 1,170,000 Erie Street Street Purchase Allocation to Dated Date: 09/03/19 Projects/ Light Environmental Sewer Street of TID 6, 11, & Allocation to Allocation to Total Principal Interest SBH GB Natures Way Services Electrical Services Utilities Construction Reconstruction Property 15 TID 9 TID 22 Admin. Expenditures Annual Cumulative Year 31,788 6,500 90,358 402,671 898,102 3,947,738 2015 77,235 358,298 658,398 4,606,136 2016 50 219,804 700,000 70,171 1,266,270 (31,360) 4,574,775 2017 200,000 2,440,082 143,755 65,362 3,124,679 (1,123,770) 3,451,006 2018 200,000 2,707,607 65,721 3,246,591 (946,258) 2,504,748 2019 125,000 42,422 200,000 189,570 1,820,637 500,000 72,937 3,075,177 (519,521) 1,985,227 2020 130,000 35,450 200,000 1,036 275,247 174,842 80,165 1,022,091 1,877,648 3,862,875 2021 110,000 31,850 200,000 183,812 46,769 5,500,000 54,790 6,255,671 (2,673,675) 1,189,199 2022 100,000 28,700 298,343 565,799 3,035,979 4,225,178 2023 100,000 25,700 304,310 563,912 2,673,302 6,898,480 2024 110,000 22,000 310,396 570,405 2,741,467 9,639,947 2025 115,000 17,500 316,604 577,065 2,810,864 12,450,811 2026 790,000 203,622 5,384,028 5,500,000 576,738 21,028,629 Total Projected TID Closure Page 2 7/19/2022  Appendix B Public Notices TID 12 Amended Project Plan page 7 of 11  Appendix C RDA Resolution page 8 of 11 City of Green Bay  Appendix D Common Council Resolution TID 12 Amended Project Plan page 9 of 11  Appendix E City Attorney Letter page 10 of 11 City of Green Bay  Appendix F Joint Review Board Resolution TID 12 Amended Project Plan page 11 of 11  Joint Review Board of the City of Green Bay RESOLUTION 2022-03 REGARDING AN ALLOCATION AMENDMENT FOR TAX INCREMENT DISTRICT NUMBER TWELEVE I-43 INDUSTRIAL PARK (“TID 12”) September 15, 2022 WHEREAS, in accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Twelve (12) I-43 Industrial Park (“TID12”) on September 6, 2005; and WHEREAS, the Common Council of the City designated the Redevelopment Authority of the City of Green Bay (“RDA”) to perform all acts necessary to adopt an Allocation Amendment Resolution and amend the Project Plan for TID 12 on Monday, June 29, 2020; and WHEREAS, the RDA proposed allocating excess incremental property taxes from TID 12 Downtown to Tax Increment District Number Twenty-Two (2) Shipyard (TID 22”) for purposes of blight elimination and public infrastructure costs; and WHEREAS, the boundaries of TID 12 are not changing with the proposed amendment; and WHEREAS, on Thursday, June 23, 2022, the Joint Review Board (“JRB”) of the City of Green Bay convened to elect a Chair, select a public member to the Board, and discuss the proposed Allocation Amendment Resolution and amended Project Plan; and WHEREAS, the RDA performed the following acts, in accordance with Wis. Stats. §66.1105, to wit: 1. On Friday, July 22, 2022, mailed, by both electronic means and first-class mail, the chief executive officer of Brown County, the Green Bay Area School District, and Northeast Wisconsin Technical College a copy of the notice of said public hearing; and 2. On Friday, July 22, 2022, and Friday July 29, 2022, published a notice of said public hearing in the City’s official paper, the Press Times; and 3. On Friday, July 22, 2022, made a hard copy of the Amended Project Plan available for public review in Room 608 of City Hall and posted it on the City website; and 4. On Tuesday, August 9, 2022, at 1:30 p.m., held a public hearing on the proposed amendments to TID 12, in which interested parties were afforded reasonable opportunity to express their views on the Amended Project Plan, and then approved the Amended Project Plan for TID 12; and WHEREAS, the Original Project Plan document plus the Amended Project Plan addendum meets all the requirements of Wis. Stats. §66.1105, to wit: 1. An economic feasibility study; and 2. A detailed list of estimated project costs; and 3. A description of the methods of financing all estimated project costs and the time when such costs or obligations related thereto are to be incurred; and 4. A map showing existing uses and conditions of real property within TID 12; and 5. A map showing proposed improvements and uses in TID 12; and 6. A statement confirming that the estimated percentage of land devoted to retail uses within the territory of TID 12 will not exceed thirty-five percent (35%); and 7. Statements indicating proposed changes in zoning ordinances, master plan, official map, building codes and city ordinances, if any; and 8. A list of estimated non-project costs; and 9. A statement relating to the proposed method for the relocation of any persons to be displaced; and 10. A statement indicating how creation of TID 12 promotes the orderly development of the City; and 11. An opinion of the City Attorney that the Amended Project Plan is complete and complies with Wis. Stats. §66.1105; and WHEREAS, the RDA made the following findings as required by Wis. Stats. §66.1105, to wit: 1. The Amended Project Plan demonstrates that TID 12 has accumulated aggregate incremental property taxes greater than the amount of total project costs; and 2. In accordance with Wis. Stats. §66.1105(6)(f)3, that TID 12 has satisfied all of its current year debt service and project cost obligations; and 3. Implementation of some projects identified in TID 22 have been delayed due to economic conditions related to the COVID-19 pandemic, and funding such projects out of TID 22 would require the delay of closing of TID 22; and 4. The mandatory termination date for TID 12 is September 6, 2025; and 5. The mandatory termination date for TID 22 is September 25, 2045; and 6. Wis. Stats. §66.1105 permits the City to donate surplus funds from TID 12 to TID 22 as a blighted or rehabilitation TID; and 7. That “but for” the adoption of an Allocation Amendment, the development projected to occur in both TID 12 and TID 22, as detailed in the City Comprehensive Plan, would not occur in the manner desired by the City and RDA; and 8. The improvement of the area is likely to significantly enhance the value of substantially all of the other real property in both TID 12 and TID 22; and 8.1. The economic benefits of both TID 12 and TID 22, as measured by increased property value, employment, and income, are greater than the cost of the improvements identified in the respective Project Plans; and 8.2. Are greater than the anticipated tax increments to be paid by owners of real property within the overlying taxing jurisdictions; and 9. The TID 12 and TID 22 Project Plans are feasible and in conformity with the City Comprehensive Plan. WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and WHEREAS, at its meeting on August 30, 2022 the Common Council of the City approved the amendment of the Non-Project Costs section of the TID 12 Project Plan to include an allocation, in an amount not to exceed two million dollars ($2,000,000.00), from TID 12 to TID 22, for the purposes of blight elimination and public infrastructure costs related to the implementation of Shipyard Phase I public improvements, which is consistent with the purpose for which TID 22 was created; and BE IT FINALLY RESOLVED that the City is hereby authorized to transfer such funds as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.4 Consideration with possible action to adopt a Resolution extending TID Fourteen (14) North Broadway Corridor by three years. BACKGROUND Staff is proposing that TID 14 be extended three years to help recover lost revenue due to project delays related to the pandemic, and the increase in materials cost. RECOMMENDATION Approval of the extension resolution to allow for the extension of the maximum life of TID 14 to be extended by three (3) years. FISCAL IMPACT Staff has reviewed information provided by the developer that the extension of TID 14 will be required to meet the financial needs of the Fort at the Railyard project. Additional projects within TID 14 may be considered on a case by case basis. ATTACHMENTS 1. 091522 JRB TID 14 Extension Resolution 2. TID 14 Council Resolution 083022 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  Joint Review Board of the City of Green Bay RESOLUTION 2022-04 REGARDING A STANDARD EXTENSION FOR TAX INCREMENT DISTRICT NUMBER FOURTEEN (14), THE RAIL YARD (“TID 14”) September 15, 2022 WHEREAS, in accordance with Wis. Stats. §66.1105, the City of Green Bay (“City”) created Tax Increment District Number Fourteen (14) (“TID 14”) on September 16, 2006; and WHEREAS, prior to the mandatory termination date of September 16, 2033, TID 14 will not have accumulated aggregate incremental property taxes equal to or greater than the amount of total project costs; and WHEREAS, Wis. Stats. §66.1105 permits the City to extend the life of a TID that has insufficient aggregate incremental property taxes for three (3) additional years, so long as all incremental property taxes from such additional years are used to cover outstanding project costs, and WHEREAS, the Redevelopment Authority of the City of Green Bay held a public hearing on August 9, 2022, and also approved the extension of TID 14 by three years, and WHEREAS, at its meeting on August 30, 2022, the Common Council of the City of Green Bay approved extending the life of TID 14 for three (3) additional years, until September 16, 2036, for the purposes of covering outstanding project costs. WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and BE IT FINALLY RESOLVED that the City is hereby authorized to extend the life of TID 14 as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.5 Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-four (24), Cherry Street, and adopt the Project Plan. BACKGROUND TID 24 is generally located in the area north of E. Walnut Street, south of Northland Ave, west of N. Adams Street, and east of N. Washington Street. TID 24 will be classified as a mixed-use district based on the identification and classification of the property proposed to be included within the TID. Proposed projects include cash grants and loans to owners, lessees, or developers of property within the TID; road, pedestrian, bicycle, and other transportation improvements; potable water, sanitary sewer, and storm water infrastructure; environmentally sustainable infrastructure, public spaces and amenities; land acquisition, environmental remediation, structural rehabilitation, and new construction; and administration. The proposed costs include projects within the proposed boundary and within a one-half (1/2) mile radius of the proposed boundary of the TID. An initial project has been identified that will consist of a $13 million project that will add five (5) stories with fifty-seven (57) market rate multi-family apartment units to the existing 10,000 s.f. single story commercial retail/office building, and a connecting skywalk to the Cherry Street Parking Ramp to the residential portion of the project. This TID is required to provide the financial assistance needed to make the project viable. RECOMMENDATION Staff recommends the approval of the Project Plan for the creation of TID 24 and the required creation resolution. FISCAL IMPACT The City has contracted with Ehler's to provide the fiscal analysis confirming the financial viability of the proposed TID, and has confirmed that the proposed TID 24 is financially viable. ATTACHMENTS 1. Full TID 24 Project Plan Document 2. 091522 JRB TID 24 Creation Resolution 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov July 22, 2022 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 24 T Prepared by: AF Ehlers D N21W23350 Ridgeview Parkway West, Suite 100 R Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: June 23, 2022 Public Hearing Held: August 1, 2022 Approval by Redevelopment Authority: August 1, 2022 Adoption by Common Council: August 30, 2022 Approval by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary.................................................................................................................................. 3 Preliminary Map of Proposed District Boundary .......................................................................... 6 Map Showing Existing Uses and Conditions................................................................................... 8 Preliminary Parcel List and Analysis ................................................................................................ 10 T Equalized Value Test ..............................................................................................................................12 Statement Listing the Kind, Number and Location of All Proposed Public Works or AF Improvements Within the District .....................................................................................................13 Map Showing Proposed Improvements and Uses ..................................................................... 20 Detailed List of Estimated Project Costs .......................................................................................22 Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be D Incurred .......................................................................................................................................................23 Annexed Property ...................................................................................................................................28 R Estimate of Property to Be Devoted to Retail Business ..........................................................28 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances .................................................................................................................................................28 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ....................................................................................................................................................................... 29 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ....................................................................................................................................................... 29 List of Estimated Non-Project Costs .............................................................................................. 30 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ...............................................................................................................................................31 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions .....................................................32 Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 24 (the “District”) is a proposed Mixed Use District comprising approximately 3.54 acres located in downtown Green Bay (the “City”). The District will be created to pay the costs of development incentives and public infrastructure improvements needed to support the project being developed by 222 Cherry Street, LLC (the “Developer”). The project will comprise of adding five (5) stories with fifty-seven (57) market rate multi-family apartment units to the existing 10,000 square feet of single story commercial retail/office building, and a connecting skywalk to the Cherry Street Parking Ramp to the residential portion of the project (the “Project”). In addition to the incremental property value that will be created, the City expects the Project to provide employment opportunities, increased income and sales T tax collection, increased retail and commercial activity, and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project. AUTHORITY AF The City is creating the District under the provisions of Wis. Stat. § 66.1105. ESTIMATED TOTAL PROJECT COST EXPENDITURES D The City anticipates making total expenditures of approximately $11.9 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). R Project Costs include an estimated $10 million in development incentives, $600 thousand in infrastructure and streetscape improvements, and $1.3 million for administrative expenses and other costs. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $28.7 million will result from the Project. Creation of this additional value will be made possible by the Project Costs made within the District. A table detailing assumptions as to the development timing and associated values is included in the Economic Feasibility Study located within this Plan. EXPECTED TERMINATION OF DISTRICT Based on the Economic Feasibility Study located within Section 9 of this Plan, the City anticipates that the District will generate sufficient tax increment to pay all Project Costs within 19 of its allowable 20 years. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 3 SUMMARY OF FINDINGS As required by Wis. Stat. § 66.1105, and as documented in this Plan and the exhibits contained and referenced herein, the following findings are made: 1. That “but for” the creation of this District, the development projected to occur as detailed in this Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the City. The City will require the Developer to pay the cost of and install public infrastructure to serve the District. Developer may also incur other costs to (re)develop property within the District that cannot be fully recovered through sale or rent while also generating market-appropriate investor returns. The City has evaluated a request from the Developer for Tax Incremental Financing (“TIF”) assistance and confirmed that the public investment is necessary, and that “but for” that investment, the related development will not occur. The development incentives included in this Plan are for purposes of confirming economic feasibility only and do not T reflect a commitment by the City to provide incentives in any specific amount. Incentive commitments will be set forth in development and subject to approval by the Common Council. To the extent City provides incentives, AF it expects to do so on a “pay as you go basis.” 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this D determination, the City has considered that in addition to the incremental property value that will be created, the City expects the Project to provide R employment opportunities, increased income and sales tax collection, increased retail and commercial activity, and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City finds that the benefits expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Project. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 4 4. Not less than 50% by area of the real property within the District is suitable for mixed use development as defined by Wis. Stat. § 66.1105(2)(cm). Lands proposed for newly-platted residential development comprise no more than 35% of the real property area within the District. Costs related to newly- platted residential development may be incurred based on the proposed development having a density of at least three (3) units per acre as defined in Wis. Stat. § 66.1105(2)(f)3.a. 5. Based on the foregoing finding, the District is designated as a mixed-use district. 6. The Project Costs relate directly to promoting mixed use development in the District, consistent with the purpose for which the District is created. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. T 8. The equalized value of taxable property in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed 12% of the total equalized value of taxable property within the City. AF 9. The City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 10. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. D 11. The Plan for the District is feasible and is in conformity with the Master Plan R of the City. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 5 SECTION 2: Preliminary Map of Proposed District Boundary Map Found on Following Page. T AF DR Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 6  T AF R D Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 7 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. T AF DR Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 8  Legend: TID Boundary Downtown Two (D2) T AF R D Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 9 SECTION 4: Preliminary Parcel List and Analysis The District will include the parcels identified in the table included on this page. All 3.535 acres to be located within the District are suitable for either residential development or commercial development. None of the land in the District will be newly-platted residential development as there are existing residential structures, and there will be no reconfiguration of the parcels. The existing “D-2” zoning of the parcels allows for “a full range of high-intensity uses: retail, multifamily housing, offices, entertainment, and civic uses” per City Code 44-614(3). Map Reference Parcel Number Address T Owner Acres Suitable Acres Newly Platted Mixed- Number 1 2 3 4 5 12-112 12-114 12-352 12-356 12-354 221 CHERRY ST 216 CHERRY ST CHERRY ST N WASHINGTON ST 102 N WASHINGTON ST AFGREEN BAY REDEVELOPMENT AUTHORITY TAJ ENTERPRISES LLC GREEN BAY CITY OF NICOLET NATIONAL BANK 7878 BIG SKY LLC 1.447 0.364 1.160 Residential 0.000 0.000 0.000 Use 1.447 0.364 1.160 6 7 8 12-351 12-353 12-355 R 202 CHERRY ST 211 E WALNUT ST 126 N WASHINGTON ST GREEN BAY CITY OF A&M FUTURES LLC NICOLET NATIONAL BANK 9 10 11 12 13 TOTALS 12-121 12-120 12-119 12-122 12-118 D 217 E WALNUT ST 225 E WALNUT ST 227 E WALNUT ST 101 N ADAMS ST 109 N ADAMS ST VIC THEATRE GREEN BAY LLC LIZA RAE LLC GREEN BAY REDEVELOPMENT AUTHORITY GREEN BAY REDEVELOPMENT AUTHORITY GREEN BAY REDEVELOPMENT AUTHORITY 0.249 0.053 0.152 0.033 0.077 3.535 0.000 0.000 0.000 0.000 0.000 0.000 0.249 0.053 0.152 0.033 0.077 3.535 Percentage of TID Area Suitable for Mixed Use Development 100% Newly Platted Residential 0% Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 10 Calculation of Estimated Base Value Assessed Value Equalized Value Parcel Land Improvement Personal Total Land Improvement Personal Total 12-112 0 0 0 0 0 0 0 0 12-114 133,800 641,800 0 775,600 168.400 807,800 0 976,200 12-352 0 0 0 0 0 0 0 0 12-356 5,700 0 0 5,700 7,200 0 0 7,200 12-354 87,700 704,200 0 791,900 110,400 886,300 0 996,700 12-351 12-353 12-355 53,800 44,100 0 293,600 0 95,700 0 0 0 T 347,400 139,800 0 67,700 55,500 0 0 369,500 120,500 0 0 0 437,200 176,000 0 12-121 12-120 12-119 12-122 12-118 91,600 19,600 0 0 0 190,300 199,600 0 0 0 AF 0 0 0 0 0 281,900 219,200 0 0 0 115,300 24,700 0 0 0 239,500 251,200 0 0 0 0 0 0 0 0 354,800 275,900 0 0 0 TOTALS 436,300 R2,125,200 0 2,561,500 549,200 2,674,800 0 3,224,000 D Valuations listed reflect January 1, 2021 assessed values converted to equalized value using the January 1, 2021 aggregate ratios published by the Wisconsin Department of Revenue for the City. Actual District base value will be certified using January 1, 2022 valuations which are not yet available. Any increases in valuation occurring after January 1, 2022 will generate incremental value. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 11 SECTION 5: Equalized Value Test The following calculations demonstrate that the City expects to be in compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property in the proposed District, plus the incremental value of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the City. Calculation of City Equalized Value Limit City TID IN Equalized Value (Jan. 1, 2021) $ 8,051,247,100 TID Valuation Limit @ 12% of Above Value $ 966,149,652 Calculation of Value Subject to Limit Estimated Base Value of New District T $ 3,224,000 AF Incremental Value of Existing Districts (Jan. 1, 2021) Total Value Subject to 12% Valuation Limit $ $ 590,452,600 593,676,600 The equalized value of the increment of existing tax incremental districts within the City, plus the estimated base value of the District, totals $593,676,600, which is 7.37% of the City’s total equalized value. This value is less than the D maximum of $966,149,652 (12%) in equalized value that is permitted for the City. Following creation of the District, its base value is no longer counted R towards the 12% limit, however, any incremental increase in value will be included in the calculation for creation of subsequent districts, or where territory is being added to an existing district. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 12 SECTION 6: Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges, other than tax increments, received or reasonably expected to be received in connection with the implementation of the Plan. If Project Costs incurred benefit territory outside the District, a proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning, design and construction is completed. T With all Project Costs, the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, AF environmental studies, permits, updating City ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The following is a list of public works and other tax incremental financing eligible Project Costs that the City expects to make, or may need to make, in conjunction with the implementation of the District’s Plan. The map found in D Section 7 of this Plan along with the Detailed List of Project Costs found in Section 8 provide additional information as to the kind, number and location of R potential Project Costs. Property, Right-of-Way and Easement Acquisition Property Acquisition for Development To promote and facilitate development the City may acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the categories detailed in this Section may be incurred to make the property suitable for development. Any revenue received by the City from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total project costs of the District. If total Project Costs incurred by the City to acquire property and make it suitable for development exceed the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered “real property assembly costs” as Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 13 defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. Property Acquisition for Conservancy To promote the objectives of this Plan, the City may acquire property within the District that it will designate for conservancy. These conservancy objectives include: preserving historic resources or sensitive natural features; protection of scenic and historic views; maintaining habitat for wildlife; maintaining adequate open space; reduction of erosion and sedimentation by preserving existing vegetation; and providing adequate areas for management of stormwater. The cost of property acquired for conservancy, and any costs associated with the transaction, are eligible Project Costs. Acquisition of Rights-of-Way The City may need to acquire property to allow for installation of streets, T driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements AF The City may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are D eligible Project Costs. R Relocation Costs If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include, but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 14 Demolition To make sites suitable for development, the City may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements T To allow development to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project AF Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the D District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and R necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Water System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 15 make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements Development within the District will cause stormwater runoff. To manage this stormwater runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service T laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices (BMP’s). To the extent stormwater management system projects undertaken AF within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. corresponding to the benefit allocated to land within the District, and Those costs necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand stormwater management infrastructure D located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are R necessitated by the implementation of the Project Plan are eligible Project Costs. Electric Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the City to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 16 Communications Infrastructure To create sites suitable for development, the City may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the City to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the City may need to construct or reconstruct streets, highways, alleys, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; T construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, AF to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping To attract development consistent with the objectives of this Plan, the City may D install amenities to enhance development sites, rights-of-way and other public spaces. These amenities include, but are not limited to: landscaping; lighting of R streets, sidewalks, parking areas and public areas; installation of planters, benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any other similar amenities installed by the City are eligible Project Costs. Community Development Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 17 Contribution to Redevelopment Authority (RDA) As provided for in Wis. Stat. § 66.1105(2)(f)1.h and Wis. Stat. § 66.1333(13), the City may provide funds to its RDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the RDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program (Development Incentives) To encourage private development consistent with the objectives of this Plan, T the City, through its RDA, may provide loans or grants to eligible property owners in the District. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the AF property and surrounding area, correct safety deficiencies, or as otherwise specified by the RDA in the program manual. Any funds returned to the RDA from the repayment of loans made are not considered revenues to the District, and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving fund and will continue to be used for the program purposes stated above. Any funds provided to the RDA for purposes of D implementing this program are considered eligible Project Costs. R Miscellaneous Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional services include but are not limited to: architectural; environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with respect to the creation of the District and the implementation of the Plan. Administrative Costs The City may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 18 salaries. Costs allocated will bear a direct connection to the time spent by City employees relating to the implementation of the Plan. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. T AF DR Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 19 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. T AF DR Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 20  Legend: TID Boundary Downtown Park or Public Use T AF R D Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 21 SECTION 8: Detailed List of Estimated Project Costs The following list identifies the Project Costs that the City currently expects to incur in implementing the District’s Plan. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. (Section 6 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. City of Green Bay, Wisconsin T Tax Increment District No. 24 Project ID 1 AF Estimated Project List1 Project Name/Type Developer Incentive ("Pay As You Go") Est. Cost Est. Timing DR 1a. 1b. 1c. 2 3 4 5 222 Cherry Street 221 Cherry Street 217 E Walnut, 227 E Walnut, 101 N Adams Cherry Street Parking Ramp Improvements Streetscape Improvements Public Art Administrative 4,500,000 5,000,000 500,000 250,000 250,000 100,000 1,284,000 2025‐2043 2025‐2043 2025‐2043 2023 2023 2023 2022‐2043 Total Projects 11,884,000 Notes: 1) Per information provided by City officials on June 30, 2022. Project costs are estimates and are subject to modification. Tax Incremental District No. 40 Project Plan City of Janesville Prepared by Ehlers Page | 22 SECTION 9: Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred This Section includes a forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how Project Costs would be financed, and a projected cash flow demonstrating that the District is economically feasible. Key Assumptions The Project Costs the City plans to make are expected to create $28.7 million in incremental value by January 1, 2024. Estimated valuations and timing for T construction of the Project are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $21.16 per thousand of equalized value, and 1.00% economic appreciation, the Project would generate $12.6 million in AF incremental tax revenue over the 20-year term of the District as shown in Table 2. DR Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 23  Table 1 – Development Assumptions City of Green Bay, Wisconsin Tax Increment District No. 24 Development Assumptions1 Construction Year Phase I Annual Total Construction Year 1 2022 0 2022 1 2 2023 28,700,000 28,700,000 2023 2 3 2024 0 2024 3 4 2025 0 2025 4 5 2026 0 2026 5 6 7 8 2027 2028 2029 T 0 0 0 2027 2028 2029 6 7 8 9 10 11 12 13 14 15 2030 2031 2032 2033 2034 2035 2036 AF 0 0 0 0 0 0 0 2030 2031 2032 2033 2034 2035 2036 9 10 11 12 13 14 15 DR 16 17 18 19 20 2037 2038 2039 2040 2041 Totals 28,700,000 0 0 0 0 0 28,700,000 2037 2038 2039 2040 2041 16 17 18 19 20 Notes: 1) Per information provided by City officials on June 30, 2022. Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 24  Table 2 – Tax Increment Projection Worksheet City of Green Bay, Wisconsin Tax Increment District No. 24 Tax Increment Projection Worksheet1 Type of District Mixed Use Base Value 3,224,000 District Creation Date August 30, 2022 Appreciation Factor 1.00% Valuation Date Jan 1, 2022 Base Tax Rate $21.16 Max Life (Years) 20 Rate Adjustment Factor 0.00% Expenditure Period/Termination 15 8/30/2037 Revenue Periods/Final Year 20 2043 Extension Eligibility/Years Yes 3 Tax Exempt Discount Rate 3.50% Eligible Recipient District No Taxable Discount Rate 5.00% 1 Construction Year 2022 Value Added 0 Valuation Year 2023 Inflation IncrementT 0 Total Increment 0 Revenue Year 2024 Tax Rate $21.16 Tax Increment 0 2 3 4 5 6 7 8 9 2023 2024 2025 2026 2027 2028 2029 2030 28,700,000 0 0 0 0 0 0 0 AF 2024 2025 2026 2027 2028 2029 2030 2031 0 287,000 289,870 292,769 295,696 298,653 301,640 304,656 28,700,000 28,987,000 29,276,870 29,569,639 29,865,335 30,163,988 30,465,628 30,770,285 2025 2026 2027 2028 2029 2030 2031 2032 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 607,345 613,418 619,552 625,748 632,005 638,325 644,709 651,156 10 11 12 13 14 15 16 17 D2031 2032 R 2033 2034 2035 2036 2037 2038 0 0 0 0 0 0 0 0 2032 2033 2034 2035 2036 2037 2038 2039 307,703 310,780 313,888 317,027 320,197 323,399 326,633 329,899 31,077,987 31,388,767 31,702,655 32,019,682 32,339,878 32,663,277 32,989,910 33,319,809 2033 2034 2035 2036 2037 2038 2039 2040 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 657,667 664,244 670,886 677,595 684,371 691,215 698,127 705,108 18 2039 0 2040 333,198 33,653,007 2041 $21.16 712,159 19 2040 0 2041 336,530 33,989,537 2042 $21.16 719,281 20 2041 0 2042 339,895 34,329,433 2043 $21.16 726,474 Totals 28,700,000 5,629,433 Future Value of Increment 12,639,386 Notes: 1) Actual results will vary depending on development, inflation of overall tax rates. Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 25 Financing and Implementation The District’s primary expenditures will be development incentives. Incentives will be paid on a “pay as you go” basis from the tax increment generated by the Project and may be structured in one or more phases. Payments will be made from and strictly limited to the tax increments generated by the District. The incentives are not considered City debt nor will the City appropriate funds to make incentive payments from any other sources aside from the tax increment generated by the District. The City will also incur certain costs to construct infrastructure and streetscape improvements and to create and administer the District. Costs incurred by the City prior to availability of tax increments will be paid from other funds of the City to be reimbursed. Once tax increments are collected, these costs will be paid from annual District revenue. Based on the Project Cost expenditures as included within the cash flow exhibit T (Table 3), the District is projected to accumulate sufficient funds by the year 2042 to pay off all Project cost liabilities and obligations. The projected closure is based on the various assumptions noted in this Plan and will vary dependent AF on actual Project Costs incurred and the actual amount of tax increments collected. DR Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 26  Table 4 – Cash Flow City of Green Bay, Wisconsin Tax Increment District No. 24 Cash Flow Projection Projected Revenues Expenditures Balances Municipal Municipal Municipal Year Revenue Revenue Revenue Cherry Street Tax Total Obligation Obligation Obligation Parking Ramp Streetscape Public Reimbursement Total Incentive 1 2 3 4 Increments Transfers In Revenues (MRO) (MRO) (MRO) Improvements Improvements Art to City Funds Admin. Expenditures Annual Cumulative Outstanding Year 2022 2023 2024 2025 0 607,345 20,000 600,000 20,000 600,000 0 607,345 218,600 242,900 24,300 250,000 T 250,000 100,000 60,700 20,000 60,700 20,000 600,000 0 607,200 0 0 0 145 0 0 0 145 10,000,000 10,000,000 9,514,200 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 613,418 619,552 625,748 632,005 638,325 644,709 651,156 657,667 613,418 619,552 625,748 632,005 638,325 644,709 651,156 657,667 220,800 223,000 225,300 227,500 229,800 232,100 234,400 236,800 245,400 247,800 250,300 252,800 255,300 257,900 260,500 263,100 24,500 24,800 25,000 25,300 25,500 25,800 26,000 26,300 AF 61,300 62,000 62,600 63,200 63,800 64,500 65,100 65,800 61,300 62,000 62,600 63,200 63,800 64,500 65,100 65,800 613,300 619,600 625,800 632,000 638,200 644,800 651,100 657,800 118 (48) (52) 5 125 (91) 56 (133) 263 215 163 168 294 202 258 125 9,023,500 8,527,900 8,027,300 7,521,700 7,011,100 6,495,300 5,974,400 5,448,200 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 664,244 670,886 677,595 684,371 691,215 664,244 670,886 677,595 684,371 691,215 239,100 241,500 243,900 246,400 248,800 R 265,700 268,400 271,000 273,700 276,500 26,600 26,800 27,100 27,400 27,600 51,000 66,400 67,100 67,800 68,400 69,100 648,800 603,800 609,800 615,900 622,000 15,444 67,086 67,795 68,471 69,215 15,569 82,655 150,451 218,922 288,137 4,916,800 4,380,100 3,838,100 3,290,600 2,737,700 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 Total 698,127 705,108 712,159 719,281 726,474 12,639,386 620,000 698,127 705,108 712,159 719,281 726,474 13,259,386 D 251,300 253,800 256,400 258,900 211,600 4,500,000 279,300 282,000 284,900 287,700 234,800 5,000,000 27,900 28,200 28,500 28,800 23,600 500,000 250,000 250,000 100,000 620,000 69,800 70,500 71,200 71,900 72,600 1,283,800 628,300 634,500 641,000 647,300 542,600 12,503,800 69,827 70,608 71,159 71,981 183,874 357,964 428,572 499,731 571,712 755,586 2,179,200 1,615,200 1,045,400 470,000 0 2039 2040 2041 2042 2043 Total Notes: Projected TID Closure 1) Assumes 80% of the annual tax increment is reimbursed to the Developer of 222 Cherry Street up to a total of $4,500,000. Assumes reimbursements are allocated based on total incentive amount. 2) Assumes 80% of the annual tax increment is reimbursed to the Developer of 221 Cherry Street up to a total of $5,000,000. Assumes reimbursements are allocated based on total incentive amount. 3) Assumes 80% of the annual tax increment is reimbursed to the Developer of 217 E Walnut, 227 E Walnut, 101 N Adams up to a total of $500,000. Assumes reimbursements are allocated based on total incentive amount. 4) Assumes 10% of annual tax increment is reimbursed to City funds for the initial capital outlay for City costs. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 27 SECTION 10: Annexed Property A tax incremental district cannot include annexed territory unless at least three years have elapsed since the annexation, or certain other requirements are met. None of the property within the proposed District boundary was annexed during the past three years. SECTION 11: Estimate of Property to Be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. T SECTION 12: AF Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances D The proposed Plan is in general conformance with the City’s current zoning ordinances. Individual properties may require rezoning at the time of R development. Master (Comprehensive) Plan and Map The proposed Plan is in general conformance with the City’s Comprehensive Plan identifying the area as appropriate for mixed-use development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 24 Project Plan City of Green Bay Prepared by Ehlers Page | 28 SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should implementation of this Plan require relocation of individuals or business operations, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. SECTION 14: How Creation of the Tax Incremental District Promotes the Orderly Development of the City Creation of the District and the implementation of the projects in its Plan will T promote the orderly development of the City by creating opportunities for mixed use development, providing necessary public infrastructure improvements, and providing appropriate financial incentives for private AF development projects. Through use of tax increment financing, the City can attract new investment that results in increased tax base. Development will occur in an orderly fashion in accordance with approved plans so that the Projects will be compatible with adjacent land uses. Development of new uses in the District will add to the tax base and will generate positive secondary impacts in the community such as providing employment opportunities, D increased income and sales tax collection, increased retail and commercial R activity, and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 29 SECTION 15: List of Estimated Non-Project Costs Non-project costs are public works projects which only partly benefit the District. Costs incurred that do not benefit the District may not be paid with tax increments. Examples of non-project costs are:  A public improvement made within the District that also benefits property outside the District. That portion of the total Project Costs allocable to properties outside of the District would be a non-project cost.  A public improvement made outside the District that only partially benefits property within the District. That portion of the total Project Costs allocable to properties outside of the District would be a non- project cost.  T Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact AF fees, grants, special assessments, or revenues other than tax increments. No improvements to be made within the District will benefit property outside the District. Furthermore, there will be no improvements made outside the District that will only partially benefit the District. DR Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 30 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) SAMPLE Mayor City of Green Bay 100 N Jefferson St Green Bay, Wisconsin 54301 RE: Project Plan for Tax Incremental District No. 24 Dear Mayor: T Wisconsin Statute 66.1105(4)(f) requires that a project plan for a tax incremental financing district include an opinion provided by the City AF Attorney advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. As City Attorney for the City of Green Bay, I have been asked to review the above-referenced project plan for compliance with the applicable statutory requirements. Based upon my review, in my opinion, the Project Plan for the D City of Green Bay Tax Incremental District No. 24 is complete and complies with the provisions of Wisconsin Statute 66.1105. Sincerely, R City Attorney Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 31 SECTION 17: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions The following projection is provided to meet the requirements of Wis. Stat. § 66.1105(4)(i)4. Allocation of future tax increments is based on the projections included in this Plan and assumes the same proportions as the actual breakdown of tax collections for the 2021 levy year. Northeast Wisconsin Green Bay Metro School District of Technical College Revenue Year Brown County Sewer District City of Green Bay Green Bay Area Green Bay Total Revenue Year 2024 0 0 0 0 0 0 2024 2025 103,763 0 223,361 259,028 21,192 607,345 2025 2026 104,801 0 225,595 261,619 21,404 613,418 2026 2027 105,849 0 227,851 264,235 21,618 619,552 2027 2028 2029 2030 2031 106,908 107,977 109,056 110,147 0 0 0 0 230,129 232,430 234,755 237,102 T 266,877 269,546 272,242 274,964 21,834 22,052 22,273 22,495 625,748 632,005 638,325 644,709 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 111,248 112,361 113,485 114,619 115,766 116,923 118,092 119,273 AF 0 0 0 0 0 0 0 0 239,473 241,868 244,287 246,730 249,197 251,689 254,206 256,748 277,714 280,491 283,296 286,129 288,990 291,880 294,799 297,747 22,720 22,947 23,177 23,409 23,643 23,879 24,118 24,359 651,156 657,667 664,244 670,886 677,595 684,371 691,215 698,127 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 Totals DR 120,466 121,671 122,887 124,116 2,159,409 0 0 0 0 0 259,315 261,909 264,528 267,173 4,648,345 300,724 303,731 306,769 309,836 5,390,615 24,603 24,849 25,097 25,348 441,017 705,108 712,159 719,281 726,474 12,639,386 2040 2041 2042 2043 Tax Incremental District No. 39 Project Plan City of Janesville Prepared by Ehlers Page | 32  Appendix A Public Notices  Appendix B RDA Resolution TID 24 Project Plan  Appendix C Common Council Resolution TID 24 Project Plan  Appendix D City Attorney Letter TID 24 Project Plan  Appendix E Joint Review Board Resolution TID 24 Project Plan  Joint Review Board of the City of Green Bay RESOLUTION 2022-05 ESTABLISHING THE BOUNDARIES OF AND APPROVING THE PROJECT PLAN FOR TAX INCREMENT DISTRICT NUMBER TWENTY-FOUR (24) CHERRY STREET (“TID 24”) September 15, 2022 WHEREAS, the City of Green Bay (the “City”) has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the City; and WHEREAS, Tax Incremental District No. 24 (the “District”) is proposed to be created by the City in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, a Project Plan for the District has been prepared that includes: a. A statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the District promotes the orderly development of the City; k. An opinion of the City Attorney or of an attorney retained by the City advising that the plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f); and WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to the chief executive officers of Brown County, the Green Bay Area School District, and the Northeast Wisconsin Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the REDEVELOPMENT AUTHORITY, on August 9, 2022 held a public hearing concerning the proposed creation of the District, its proposed boundaries and its proposed Project Plan, providing interested parties a reasonable opportunity to express their views thereon, and approved the creation of the District, and WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and WHEREAS, at its meeting on August 30, 2022 the Common Council of the City approved the creation of Tax Increment District Number Twenty-Four (24), Cherry Street (“TID 24”), and adopted the project plan; and BE IT FINALLY RESOLVED that the City is hereby authorized to create TID 24 as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY September 15, 2022 Neil Stechschulte, Director AGENDA ITEM # E.6 Consideration with possible action to adopt a Creation Resolution to establish TID Number Twenty-five (25), Grandview Industrial Park, and adopt the Project Plan. BACKGROUND TID 25 is generally located in the area east of Erie Road, south of E. Mason Street, west of S. Northview Road, and north of Padi-Wood Lane, plus a portion east of S. Grandview Road, north of Finger Road, and west of S. Northview Road. TID 25 will be classified as a mixed-use district based on the identification and classification of the property proposed to be included within the TID. Proposed projects include cash grants and loans to owners, lessees, or developers of property within the TID; road, pedestrian, bicycle, and other transportation improvements; potable water, sanitary sewer, and storm water infrastructure; environmentally sustainable infrastructure, public spaces and amenities; land acquisition, environmental remediation, structural rehabilitation, and new construction; and administration. The proposed costs include projects within the proposed boundary and within a one-half (1/2) mile radius of the proposed boundary of the TID. An initial project has been identified that will include a $35 million industrial project that consists of a 220,000 s.f. food processing facility. This project will serve as the initial anchor tenant for the newly created Grandview Industrial Park. TID 25 is necessary to provide financial assistance and public infrastructure to make this project and future projects viable. RECOMMENDATION Staff recommends the approval of the Project Plan for the creation of TID 25, and the required creation resolution. FISCAL IMPACT The City has contracted with Ehler's to provide the fiscal analysis confirming the financial viability of the proposed TID, and has confirmed that the proposed TID 25 is financially viable. ATTACHMENTS 1. Full TID 25 Project Plan Document 2. 091522 JRB TID 25 Creation Resolution 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov July 22, 2022 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 25 T Prepared by: AF Ehlers D N21W23350 Ridgeview Parkway West, Suite 100 R Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: June 23, 2022 Public Hearing Held: August 1, 2022 Approval by Redevelopment Authority: August 1, 2022 Adoption by Common Council: August 30, 2022 Approval by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary.................................................................................................................................. 3 Preliminary Map of Proposed District Boundary .......................................................................... 6 Map Showing Existing Uses and Conditions................................................................................... 8 Preliminary Parcel List and Analysis ................................................................................................ 10 T Equalized Value Test ..............................................................................................................................12 Statement Listing the Kind, Number and Location of All Proposed Public Works or AF Improvements Within the District .....................................................................................................13 Map Showing Proposed Improvements and Uses ..................................................................... 20 Detailed List of Estimated Project Costs .......................................................................................22 Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be D Incurred .......................................................................................................................................................23 Annexed Property ...................................................................................................................................28 R Estimate of Property to Be Devoted to Retail Business ..........................................................28 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances .................................................................................................................................................28 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ....................................................................................................................................................................... 29 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ....................................................................................................................................................... 29 List of Estimated Non-Project Costs .............................................................................................. 30 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ...............................................................................................................................................31 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions .....................................................33 Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 25 (“District”) is a proposed Industrial District comprising approximately 208.76 acres located in the eastern part of the City. The District will be created to pay the costs of development incentives and public infrastructure improvements needed to promote industrial development in the area (the “Projects”) including the project be developed by CMC 3731 Finger Road, LLC (the “Developer”). In addition to the incremental property value that will be created, the City expects the Projects to provide employment opportunities, increased income and sales tax collection, manufacturing activity, and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project. AUTHORITY T The City is creating the District under the provisions of Wis. Stat. § 66.1105. AF ESTIMATED TOTAL PROJECT COST EXPENDITURES The City anticipates making total expenditures of approximately $17.1 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $6 million in development incentives, $10 million in public infrastructure costs, $100 thousand for public art, and $1 million D thousand for administrative expenses and other costs. The $3 million of development incentives for “Future Industrial Development” is an estimate only R for potential future development. The amount of any developer incentive will be established in applicable development agreements and may vary from the estimates included in this Plan. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $65 million will result from the Project. Creation of this additional value will be made possible by the Project Costs made within the District. A table detailing assumptions as to the development timing and associated values is included in the Economic Feasibility Study located within this Plan. EXPECTED TERMINATION OF DISTRICT Based on the Economic Feasibility Study located within Section 9 of this Plan, the City anticipates that the District will generate sufficient tax increment to pay all Project Costs within 19 of its allowable 20 years. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 3 SUMMARY OF FINDINGS As required by Wis. Stat. § 66.1105, and as documented in this Plan and the exhibits contained and referenced herein, the following findings are made: 1. That “but for” the creation of this District, the development projected to occur as detailed in this Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the City, due to the substantial investment needed to provide the public infrastructure necessary to allow for development within the District. The City expects to receive one or more requests for tax incremental financing (“TIF”) assistance. As requests are submitted, the City will evaluate each to confirm that the public investment is necessary, and that “but for” that investment, the related development will not occur. The development incentives included in this Plan are for purposes of confirming economic feasibility only and do not reflect a commitment by the City to provide incentives in any specific amount. Incentive commitments will be set forth in development T agreements for individual phases and subject to approval by the Common Council. To the extent City provides incentives, it expects to do so on a “pay as you go basis.” Absent the use of tax incremental financing, the City is AF unable to fully fund costs outlined in this Project Plan. 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered that in addition to the incremental D property value that will be created, the City expects the Projects to provide R employment opportunities, increased income and sales tax collection, manufacturing activity, and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City finds that the benefits expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Projects. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 4 4. Not less than 50% by area of the real property within the District is suitable for industrial sites as defined by Wis. Stat. § 66.1101, and has been zoned for industrial use. Any real property within the District that is found suitable for industrial sites and is zoned for industrial use at the time of creation of the District will remain zoned for industrial use for the life of the District. 5. Based on the foregoing finding, the District is designated as an industrial district. 6. The Project Costs relate directly to promoting industrial development in the District, consistent with the purpose for which the District is created. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. 8. The equalized value of taxable property in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed T 12% of the total equalized value of taxable property within the City. 9. The City estimates that none of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure AF period, pursuant to Wis. Stat. § 66.1105(5)(b). 10. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 11. The Plan for the District is feasible and is in conformity with the Master Plan D of the City. R Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 5 SECTION 2: Preliminary Map of Proposed District Boundary Map Found on Following Page. T AF DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 6  T AF R D Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 7 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. T AF DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 8  T AF R D Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 9 SECTION 4: Preliminary Parcel List and Analysis The District will include the parcels identified in the table included on this page. All 208.758 acres to be located within the District are zoned and suitable for industrial sites as defined by Wis. Stat. § 66.1101. Map Suitable Parcel Acres Reference Address Owner Acres Number Number Industrial 1 21-199-2 911 ERIE RD JOHN J BUNKER, ETAL 2.561 2.561 2 3 4 21-199 21-195 ARLINE LN 0 E MASON ST T PIERQUET FAMILY LTD PARTNERSHIP ET AL PIERQUET FAMILY LTD PARTNERSHIP ET AL 35.875 16.022 35.875 16.022 5 6 7 8 9 21-195-2 21-201 21-200 21-189 21-189-1 21-190 720 S GRANDVIEW RD BLK 0 PADI WOOD LN 1020 S GRANDVIEW RD 3714 E MASON ST 3760 E MASON ST 0 S GRANDVIEW RD AF PIERQUET ROSELLA REVOCABLE TRUST PIERQUET FAMILY LTD PARTNERSHIP ET AL STUART E FRANKOW CITY OF GREEN BAY CITY OF GREEN BAY RENTMEESTER ANTOINETTE L REVOCABLE TRUST 1.479 28.355 8.508 4.117 3.093 26.246 1.479 28.355 8.508 4.117 3.093 26.246 11 12 10 21-192 21-22 R 909 S GRANDVIEW RD 3731 FINGER RD RENTMEESTER ANTOINETTE L REVOCABLE TRUST CITY OF GREEN BAY 29.494 23.010 29.494 23.010 13 14 TOTALS 21-22-1 21-19-1 21-24 D 641 S GRANDVIEW RD 0 S NORTHVIEW RD 3731 FINGER RD CITY OF GREEN BAY RRL LAND LLC CITY OF GREEN BAY Percentage of TID Area Suitable for Industrial Development 2.351 10.000 17.647 208.758 2.351 10.000 17.647 208.758 100% Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 10 Calculation of Estimated Base Value Assessed Value Equalized Value Parcel Land Improvement Personal Total Land Improvement Personal Total 21-199-2* 79,000 0 0 79,000 99,400 0 0 99,400 21-199* 6,400 0 0 6,400 8,100 0 0 8,100 21-195* 2,000 0 0 2,000 2,500 0 0 2,500 21-195-2* 300 0 0 300 400 0 0 400 21-201* 5,100 0 0 5,100 6,400 0 0 6,400 21-200* 21-189* 21-189-1* 47,400 0 0 121,700 0 0 0 0 0 T 169,100 0 0 59,200 0 0 153,200 0 0 0 0 0 212,400 0 0 21-190* 21-192* 21-22* 21-22-1* 21-19-1 4,700 55,000 1,800 0 0 0 70,900 0 0 0 AF 0 0 0 0 0 4,700 125,900 1,800 0 0 5,900 62,900 2,300 0 0 0 89,200 0 0 0 0 0 0 0 0 5,900 152,100 2,300 0 0 21-24* TOTALS 0 201,700 R 0 192,600 0 0 0 394,300 0 247,100 0 242,400 0 0 0 489,500 D Valuations listed reflect January 1, 2021 assessed values converted to equalized value using the January 1, 2021 aggregate ratios published by the Wisconsin Department of Revenue for the City. Actual District base value will be certified using January 1, 2022 valuations which are not yet available. Any increases in valuation occurring after January 1, 2022 will generate incremental value. *Parcels are currently in TID 12. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 11 SECTION 5: Equalized Value Test The following calculations demonstrate that the City expects to be in compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property in the proposed District, plus the incremental value of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the City. Calculation of City Equalized Value Limit City TID IN Equalized Value (Jan. 1, 2021) $ 8,051,247,100 TID Valuation Limit @ 12% of Above Value $ 966,149,652 Calculation of Value Subject to Limit Estimated Base Value of New District T $ 489,500 AF Incremental Value of Existing Districts (Jan. 1, 2021) Less Value of Underlying TID Parcels (TID 12) Total Value Subject to 12% Valuation Limit $ $ $ 590,452,600 487,200 590,454,900 The equalized value of the increment of existing tax incremental districts within D the City, plus the estimated base value of the District, less the value of the underlying TID 12 parcels, totals $490,454,900, which is 7.33% of the City’s total R equalized value. This value is less than the maximum of $966,149,652 (12%) in equalized value that is permitted for the City. Following creation of the District, its base value is no longer counted towards the 12% limit, however, any incremental increase in value will be included in the calculation for creation of subsequent districts, or where territory is being added to an existing district. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 12 SECTION 6: Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges, other than tax increments, received or reasonably expected to be received in connection with the implementation of the Plan. If Project Costs incurred benefit territory outside the District, a proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning, design and construction is completed. T With all Project Costs, the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, AF environmental studies, permits, updating City ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The following is a list of public works and other tax incremental financing eligible Project Costs that the City expects to make, or may need to make, in conjunction with the implementation of the District’s Plan. The map found in D Section 7 of this Plan along with the Detailed List of Project Costs found in Section 8 provide additional information as to the kind, number and location of R potential Project Costs. Property, Right-of-Way and Easement Acquisition Property Acquisition for Development To promote and facilitate development the City may acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the categories detailed in this Section may be incurred to make the property suitable for development. Any revenue received by the City from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total project costs of the District. If total Project Costs incurred by the City to acquire property and make it suitable for development exceed the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered “real property assembly costs” as Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 13 defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. Property Acquisition for Conservancy To promote the objectives of this Plan, the City may acquire property within the District that it will designate for conservancy. These conservancy objectives include: preserving historic resources or sensitive natural features; protection of scenic and historic views; maintaining habitat for wildlife; maintaining adequate open space; reduction of erosion and sedimentation by preserving existing vegetation; and providing adequate areas for management of stormwater. The cost of property acquired for conservancy, and any costs associated with the transaction, are eligible Project Costs. Acquisition of Rights-of-Way The City may need to acquire property to allow for installation of streets, T driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements AF The City may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are D eligible Project Costs. R Relocation Costs If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include, but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 14 Demolition To make sites suitable for development, the City may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements T To allow development to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or AF expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and D necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City R construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Water System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 15 implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements Development within the District will cause stormwater runoff. To manage this stormwater runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices T (BMP’s). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs AF corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are D necessitated by the implementation of the Project Plan are eligible Project Costs. R Electric Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the City to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 16 Communications Infrastructure To create sites suitable for development, the City may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the City to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the City may need to construct or reconstruct streets, highways, alleys, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, T to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping AF To attract development consistent with the objectives of this Plan, the City may install amenities to enhance development sites, rights-of-way and other public spaces. These amenities include, but are not limited to: landscaping; lighting of streets, sidewalks, parking areas and public areas; installation of planters, D benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any R other similar amenities installed by the City are eligible Project Costs. Community Development Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 17 Contribution to Redevelopment Authority (RDA) As provided for in Wis. Stat. § 66.1105(2)(f)1.h and Wis. Stat. § 66.1333(13), the City may provide funds to its RDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the RDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program (Development Incentives) To encourage private development consistent with the objectives of this Plan, the City, through its RDA, may provide loans or grants to eligible property owners in the District. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies, or as otherwise specified by the RDA in the program manual. Any funds returned to the RDA T from the repayment of loans made are not considered revenues to the District, and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving fund and will continue to be used for the program AF purposes stated above. Any funds provided to the RDA for purposes of implementing this program are considered eligible Project Costs. Miscellaneous Projects Outside the Tax Increment District D Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the City may undertake projects within territory located within one-half mile of the boundary of the District provided R that: 1) the project area is located within the City’s corporate boundaries; and 2) the projects are approved by the Joint Review Board. The cost of projects completed outside the District pursuant to this section are eligible project costs, and may include any project cost that would otherwise be eligible if undertaken within the District. The City intends to improve Erie Road, E Mason Street, S Grandview Road, and Finger Road, portions of which will be located outside of the District boundaries. In addition, the City will undertake stormwater and sanitary sewer improvements that may be partially located outside of the District boundaries. Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional services include but are not limited to: architectural; Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 18 environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with respect to the creation of the District and the implementation of the Plan. Administrative Costs The City may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the time spent by City employees relating to the implementation of the Plan. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. T AF DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 19 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. T AF DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 20  T AF R D Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 21 SECTION 8: Detailed List of Estimated Project Costs The following list identifies the Project Costs that the City currently expects to incur in implementing the District’s Plan. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. (Section 6 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. City of Green Bay, Wisconsin T Tax Increment District No. 25 Estimated Project List1 Project ID 1 1a. AF Project Name/Type Developer Incentive ("Pay As You Go") 3731 Finger Road Est. Cost 3,000,000 Est. Timing 2025‐2043 DR 1b. 2 3 4 Total Projects Future Industrial Development Public Infrastructure Public Art Administrative 2 3,000,000 10,000,000 100,000 1,000,000 17,100,000 2025‐2043 2023‐2043 2023 2022‐2043 Notes: 1) Per information provided by City officials on June 30, 2022. Project costs are estimates and are subject to modification. 2) The amount of any incentive to be provided will be established in applicable development agreements. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 22 SECTION 9: Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred This Section includes a forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how Project Costs would be financed, and a projected cash flow demonstrating that the District is economically feasible. Key Assumptions Project Costs the City plans to make are expected to create $65 million in incremental value by January 1, 2036. Estimated valuations and timing for T construction of the Project are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $21.16 per thousand of equalized value, and 1.00% economic appreciation, the Project would generate $23.5 million in AF incremental tax revenue over the 20-year term of the District as shown in Table 2. DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 23  Table 1 – Development Assumptions City of Green Bay, Wisconsin Tax Increment District No. 25 Development Assumptions1 Future 3731 Finger Construction Year Industrial Annual Total Construction Year Road 2 Development 1 2022 0 2022 1 2 2023 35,000,000 35,000,000 2023 2 3 2024 0 2024 3 4 2025 5,000,000 5,000,000 2025 4 5 6 7 2026 2027 2028 T 5,000,000 0 5,000,000 0 2026 2027 2028 5 6 7 8 9 10 11 12 13 14 2029 2030 2031 2032 2033 2034 2035 AF 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 0 5,000,000 0 5,000,000 0 5,000,000 2029 2030 2031 2032 2033 2034 2035 8 9 10 11 12 13 14 D 15 16 R 17 18 19 20 2036 2037 2038 2039 2040 2041 0 0 0 0 0 0 2036 2037 2038 2039 2040 2041 15 16 17 18 19 20 Totals 35,000,000 30,000,000 65,000,000 Notes: 1) Per information provided by City officials on June 30, 2022. 2) The Future Industrial Development is assumed for projection purposes only. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 24  Table 2 – Tax Increment Projection Worksheet City of Green Bay, Wisconsin Tax Increment District No. 25 Tax Increment Projection Worksheet1 Type of District Industrial Base Value 489,500 District Creation Date August 30, 2022 Appreciation Factor 1.00% Valuation Date Jan 1, 2022 Base Tax Rate $21.16 Max Life (Years) 20 Rate Adjustment Factor 0.00% Expenditure Period/Termination 15 8/30/2037 Revenue Periods/Final Year 20 2043 Extension Eligibility/Years Yes 3 Tax Exempt Discount Rate 3.50% Eligible Recipient District No Taxable Discount Rate 5.00% 1 2 Construction Year 2022 2023 Value Added 0 35,000,000 Valuation Year 2023 2024 Increment T Inflation 0 0 Total Increment 0 35,000,000 Revenue Year 2024 2025 Tax Rate $21.16 $21.16 Tax Increment 0 740,664 3 4 5 6 7 8 9 10 2024 2025 2026 2027 2028 2029 2030 2031 0 5,000,000 0 5,000,000 0 5,000,000 0 5,000,000 AF 2025 2026 2027 2028 2029 2030 2031 2032 350,000 353,500 407,035 411,105 465,216 469,869 524,567 529,813 35,350,000 40,703,500 41,110,535 46,521,640 46,986,857 52,456,725 52,981,293 58,511,105 2026 2027 2028 2029 2030 2031 2032 2033 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 748,071 861,361 869,974 984,483 994,328 1,110,081 1,121,181 1,238,202 11 12 13 14 15 16 17 18 DR 2032 2033 2034 2035 2036 2037 2038 2039 0 5,000,000 0 5,000,000 0 0 0 0 2033 2034 2035 2036 2037 2038 2039 2040 585,111 590,962 646,872 653,341 709,874 716,973 724,142 731,384 59,096,217 64,687,179 65,334,051 70,987,391 71,697,265 72,414,238 73,138,380 73,869,764 2034 2035 2036 2037 2038 2039 2040 2041 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 $21.16 1,250,584 1,368,899 1,382,588 1,502,223 1,517,246 1,532,418 1,547,742 1,563,220 19 2040 0 2041 738,698 74,608,461 2042 $21.16 1,578,852 20 2041 0 2042 746,085 75,354,546 2043 $21.16 1,594,640 Totals 65,000,000 10,354,546 Future Value of Increment 23,506,760 Notes: 1) Actual results will vary depending on development, inflation of overall tax rates. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 25 Financing and Implementation Implementation of the Plan will require the buildout of public infrastructure (water, sanitary sewer, stormwater management, sidewalks, streets, etc.) to service the District. The City will finance the cost of that extension through issuance of tax-exempt General Obligation Bonds with debt service to be paid from the tax increment generated by the Projects. Cost of issuance will be paid from bond proceeds, and any interest due prior to the availability of tax increment will be capitalized. Development incentives will be paid on a “pay as you go” basis from the tax increment generated by the Project and may be structured in one or more phases. Payments will be made from and strictly limited to the tax increments generated by the District. The incentives are not considered City debt nor will the City appropriate funds to make incentive payments from any other sources aside from the tax increment generated by the District. To the extent T incremental revenues are less than projected, the full amount of the development incentive may not ultimately be paid. The City will also incur certain costs to create and administer the District. Costs AF incurred by the City prior to availability of tax increments may be paid from other funds of the City to be reimbursed. Once tax increments are collected, these costs will be paid from annual District revenue. Based on the Project Cost expenditures as included within the cash flow exhibit (Table 3), the District is projected to accumulate sufficient funds by the year D 2042 to pay off all Project cost liabilities and obligations. The projected closure is based on the various assumptions noted in this Plan and will vary dependent R on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 26  Table 4 – Cash Flow City of Green Bay, Wisconsin Tax Increment District No. 25 Cash Flow Projection Projected Revenues Expenditures Balances Municipal G.O. Bond Municipal Year Revenue 10,165,000 Revenue Bond Principal/ Tax Bond Project Total Obligation Dated Date: 04/15/25 Obligation Public Issuance Total Incentive 1 2 3 Increments Sale of Land Proceeds Revenues (MRO) Principal Est. Rate Interest (MRO) Infrastructure Public Art Costs Admin. Expenditures Annual Cumulative Outstanding Year 2022 481,200 481,200 20,000 20,000 461,200 461,200 3,000,000 2022 2023 2024 2025 2026 0 740,664 748,071 10,214,000 0 0 10,954,664 748,071 148,100 149,600 3.02% 609,762 T 10,000,000 100,000 211,913 22,425 24,850 27,275 29,700 22,425 24,850 10,487,288 789,062 (22,425) (24,850) 467,377 (40,991) 438,775 413,925 881,302 840,311 13,165,000 13,165,000 13,016,900 15,867,300 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 861,361 869,974 984,483 994,328 1,110,081 1,121,181 1,238,202 1,250,584 1,368,899 861,361 869,974 984,483 994,328 1,110,081 1,121,181 1,238,202 1,250,584 1,368,899 151,100 152,600 154,100 155,700 157,200 158,800 160,400 162,000 163,600 220,000 230,000 310,000 325,000 405,000 430,000 515,000 545,000 640,000 AF 3.30% 3.45% 3.52% 3.61% 3.69% 3.83% 3.92% 3.98% 4.05% 413,698 406,100 396,677 385,354 372,016 356,309 337,981 317,041 293,236 42,300 42,700 85,500 86,400 129,500 130,800 174,500 176,200 220,300 32,125 34,550 36,975 39,400 41,825 44,250 46,675 49,100 51,525 859,223 865,950 983,252 991,854 1,105,541 1,120,159 1,234,556 1,249,341 1,368,661 2,138 4,024 1,232 2,474 4,540 1,022 3,647 1,243 239 842,449 846,473 847,705 850,179 854,719 855,741 859,388 860,631 860,870 15,453,900 15,028,600 14,479,000 13,911,900 13,220,200 12,500,600 11,650,700 10,767,500 9,743,600 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 1,382,588 1,502,223 1,517,246 1,532,418 1,547,742 1,382,588 1,502,223 1,517,246 1,532,418 1,547,742 165,300 166,900 168,600 170,300 172,000 R 670,000 735,000 765,000 800,000 835,000 4.11% 4.16% 4.22% 4.28% 4.32% 266,507 237,451 206,021 172,760 137,604 222,500 267,000 269,700 272,400 275,100 53,950 56,375 58,800 61,225 63,650 1,378,257 1,462,726 1,468,121 1,476,685 1,483,354 4,331 39,498 49,125 55,734 64,389 865,202 904,700 953,824 1,009,558 1,073,947 8,685,800 7,516,900 6,313,600 5,070,900 3,788,800 2036 2037 2038 2039 2040 2041 2042 2043 Total Notes: 1,563,220 1,578,852 1,594,640 23,506,760 481,200 10,214,000 1,563,220 1,578,852 1,594,640 34,201,960 D 173,700 175,400 94,600 3,000,000 875,000 910,000 955,000 10,165,000 4.35% 4.36% 4.38% 100,536 61,667 20,915 5,091,631 277,900 280,700 46,500 3,000,000 1) Assumes 20% of the annual tax increment from the 3731 Finger Road development is reimbursed to the Developer up to a total of $3,000,000. 10,000,000 100,000 211,913 66,075 68,500 70,750 1,000,000 1,493,211 1,496,267 1,187,765 32,568,544 70,009 82,585 406,876 1,143,955 1,226,540 1,633,416 2,462,200 1,096,100 Projected TID Closure 0 2041 2042 2043 Total 2) Estimated rates are July 8, 2022 BVAL plus 1.50%. 3) Assumes 40% of the annual tax increment from the Future Industrial Development is reimbursed to the developer(s) up to a total of $3,000,000. Incentive amounts shown are included for purposes of establishing economic feasibility only. The amount of any incentive to be provided will be established in applicable development agreements and may vary from the estimates. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 27 SECTION 10: Annexed Property A tax incremental district cannot include annexed territory unless at least three years have elapsed since the annexation, or certain other requirements are met. None of the property within the proposed District boundary was annexed during the past three years. SECTION 11: Estimate of Property to Be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that none of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. T SECTION 12: AF Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances D The proposed Plan is in general conformance with the City’s current zoning ordinances. Individual properties may require rezoning at the time of R development. Land within the District zoned industrial at the time of District creation will remain in a zoning classification suitable for industrial sites for the life of the District. Master (Comprehensive) Plan and Map The proposed Plan is in general conformance with the City’s Comprehensive Plan identifying the area as appropriate for industrial development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 28 SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should implementation of this Plan require relocation of individuals or business operations, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. SECTION 14: How Creation of the Tax Incremental District Promotes the Orderly Development of the City Creation of the District and the implementation of the projects in this Plan will T promote the orderly development of the City by creating new industrial sites, providing necessary public infrastructure improvements, and providing appropriate financial incentives for private development projects. Through use AF of tax increment financing, the City can attract new investment that results in increased tax base. Development will occur in an orderly fashion in accordance with approved plans so that the Projects will be compatible with adjacent land uses. Development of new uses in the District will add to the tax base and will generate positive secondary impacts in the community such as employment opportunities, increased income and sales tax collection, manufacturing D activity, and other benefits to the local economy resulting from the purchase R of goods and services related to construction and operation of the Project. Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 29 SECTION 15: List of Estimated Non-Project Costs Non-project costs are public works projects which only partly benefit the District. Costs incurred that do not benefit the District may not be paid with tax increments. Examples of non-project costs are:  A public improvement made within the District that also benefits property outside the District. That portion of the total Project Costs allocable to properties outside of the District would be a non-project cost.  A public improvement made outside the District that only partially benefits property within the District. That portion of the total Project Costs allocable to properties outside of the District would be a non- project cost.  T Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact AF fees, grants, special assessments, or revenues other than tax increments. No improvements to be made within the District will benefit property outside the District. Furthermore, there will be no improvements made outside the District that will only partially benefit the District. DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 30 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) Legal Opinion Found on Following Page. T AF DR Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 31 SAMPLE Mayor City of Green Bay 100 N Jefferson St Green Bay, Wisconsin 54301 RE: Project Plan for Tax Incremental District No. 25 Dear Mayor: Wisconsin Statute 66.1105(4)(f) requires that a project plan for a tax incremental financing district include an opinion provided by the City Attorney advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. As City Attorney for the City of Green Bay, I have been asked to review the T above-referenced project plan for compliance with the applicable statutory requirements. Based upon my review, in my opinion, the Project Plan for the City of Green Bay Tax Incremental District No. 25 is complete and complies AF with the provisions of Wisconsin Statute 66.1105. Sincerely, DR City Attorney Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 32 SECTION 17: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions The following projection is provided to meet the requirements of Wis. Stat. § 66.1105(4)(i)4. Allocation of future tax increments is based on the projections included in this Plan and assumes the same proportions as the actual breakdown of tax collections for the 2021 levy year. Northeast Wisconsin Green Bay Metro City of Green School District of Technical College Revenue Year Brown County Sewer District Bay Green Bay Area Green Bay Total Revenue Year 2024 0 0 0 0 0 0 2024 2025 126,541 0 272,392 315,888 25,843 740,664 2025 2026 127,806 0 275,116 319,047 26,102 748,071 2026 2027 147,161 0 316,780 367,365 30,055 861,361 2027 2028 2029 2030 2031 148,633 168,197 169,879 189,655 0 0 0 0 319,948 362,060 365,681 408,251 T 371,038 419,876 424,074 473,442 30,355 34,351 34,694 38,733 869,974 984,483 994,328 1,110,081 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 191,551 211,544 213,659 233,873 236,212 256,651 259,218 261,810 AF 0 0 0 0 0 0 0 0 412,333 455,370 459,923 503,436 508,470 552,468 557,992 563,572 478,176 528,085 533,366 583,827 589,665 640,688 647,095 653,566 39,121 43,204 43,636 47,764 48,242 52,416 52,940 53,470 1,121,181 1,238,202 1,250,584 1,368,899 1,382,588 1,502,223 1,517,246 1,532,418 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 DR 264,428 267,072 269,743 272,441 4,016,075 0 0 0 0 0 569,208 574,900 580,649 586,456 8,645,003 660,102 666,703 673,370 680,104 10,025,478 54,004 54,544 55,090 55,641 820,204 1,547,742 1,563,220 1,578,852 1,594,640 23,506,760 2040 2041 2042 2043 Tax Incremental District No. 25 Project Plan City of Green Bay Prepared by Ehlers Page | 33  Appendix A Public Notices  Appendix B RDA Resolution TID 24 Project Plan  Appendix C Common Council Resolution TID 24 Project Plan  Appendix D City Attorney Letter TID 24 Project Plan  Appendix E Joint Review Board Resolution TID 24 Project Plan  Joint Review Board of the City of Green Bay RESOLUTION 2022-05 ESTABLISHING THE BOUNDARIES OF AND APPROVING THE PROJECT PLAN FOR TAX INCREMENT DISTRICT NUMBER TWENTY-FIVE (25) GRANDVIEW INDUSTIRAL PARK (“TID 25”) September 15, 2022 WHEREAS, the City of Green Bay (the “City”) has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the City; and WHEREAS, Tax Incremental District No. 25 (the “District”) is proposed to be created by the City in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, a Project Plan for the District has been prepared that includes: a. A statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the District promotes the orderly development of the City; k. An opinion of the City Attorney or of an attorney retained by the City advising that the plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f); and WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to the chief executive officers of Brown County, the Green Bay Area School District, and the Northeast Wisconsin Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the REDEVELOPMENT AUTHORITY, on August 9, 2022 held a public hearing concerning the proposed creation of the District, its proposed boundaries and its proposed Project Plan, providing interested parties a reasonable opportunity to express their views thereon, and approved the creation of the District, and NOW, THEREFORE, BE IT RESOLVED by the COMMON COUNCIL of the City of Green Bay hereby creates Tax Increment District Number Twenty-Five (25), Grandview Industrial Park (“TID 25”), and adopts the project plan. WHEREAS, the City Attorney has provided a written opinion that all statutory requirements have been met; and WHEREAS, at its meeting on August 30, 2022 the Common Council of the City approved the creation of Tax Increment District Number Twenty-Five (25), Grandview Industrial Park (“TID 25”), and adopted the project plan; and BE IT FINALLY RESOLVED that the City is hereby authorized to create TID 25 as specified herein. Adopted Approved JOINT REVIEW BOARD OF THE CITY OF GREEN BAY By: Diana Ellenbecker, Chair page 2 of 2