Tax Incremental Districts Joint Review Board

AGENDA OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD TUESDAY, AUGUST 12, 2025, 11:00 AM City Hall, Room 604 - The Harry Maier Room. Virtual attendance is also available via Zoom. A. Zoom Meeting Information. 1. Join Zoom Meeting Online: https://us02web.zoom.us/j/83043627118?pwd=9M4kK6OvrDF6wFAEL3n3QDoJJPqLnW.1 Or call in by phone: +1 312 626 6799 Meeting ID: 830 4362 7118 Passcode: 528512 If you wish to speak at this public meeting or leave a comment, please fill out the online Comment Form prior to the meeting. More detailed Zoom Instructions can be found online. B. Roll Call. 1. Members: Diana Ellenbecker, City of Green Bay; Dan Teaters, Brown County; Cale Pulczinski, Green Bay Area Public School District; Adam Pfost, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. C. Approval of the Agenda. 1. Approval of the agenda for the August 12, 2025, meeting of the Tax Incremental Districts Joint Review Board. D. Approval of Minutes. 1. Approval of the minutes from the June 10, 2025, meeting. E. Regular Business. 1. Consideration with possible action to appoint the Joint Review Board public member and chairperson and review the responsibilities of the Joint Review Board. Agenda of the Tax Incremental Districts Joint Review Board August 12, 2025 Page 1  2. Consideration with possible action to review the public record, planning documents, and resolutions passed by the Redevelopment Authority and Common Council and adopt a resolution approving the creation of Tax Incremental District Thirty (TID 30): US Bank Conversion. 3. Consideration with possible action to review the public record, planning documents, and resolutions passed by the Redevelopment Authority and Common Council and adopt a resolution approving the creation of Tax Incremental District Thirty-One (TID 31). 4. Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Thirty-Two (TID 32): The Pines. F. Informational. 1. Tax Incremental District Twelve (TID 12): I-43 Industrial Park Affordable Housing Extension. 2. Set next meeting date to consider approval of Tax Incremental District #32. G. Adjournment. 1. Adjournment of the Tuesday, August 12, 2025, meeting of the Tax Incremental Districts Joint Review Board. 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. Agenda of the Tax Incremental Districts Joint Review Board August 12, 2025 Page 2  MINUTES OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD TUESDAY, JUNE 10, 2025, 11:00 AM City Hall, Room 604 - The Harry Maier Room. Virtual attendance is also available via Zoom. A. ZOOM MEETING INFORMATION. 1. Join Zoom Meeting Online: https://us02web.zoom.us/j/83043627118?pwd=9M4kK6OvrDF6wFAEL3n3QDoJJPqLnW.1 Or call in by phone: +1 312 626 6799 Meeting ID: 830 4362 7118 Passcode: 528512 If you wish to speak at this public meeting or leave a comment, please fill out the online Comment Form prior to the meeting. More detailed Zoom Instructions can be found online. B. ROLL CALL. 1. Members: Diana Ellenbecker, City of Green Bay; Dan Teaters, Brown County; Cale Pulczinski, Green Bay Area Public School District; Adam Pfost, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. Present: Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost Excused: Dan Teaters C. APPROVAL OF THE AGENDA. 1. Approval of the agenda for the June 10, 2025, meeting of the Tax Incremental Districts Joint  Review Board. Moved by Cale Pulczinski, seconded by Brent Weycker to approve the agenda for the June 10, 2025, meeting of the Tax Incremental Districts Joint Review Board. Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain- None. D. APPROVAL OF MINUTES. 1. Approval of the minutes from the March 28, 2025, meeting. Moved by Adam Pfost, seconded by Cale Pulczinski to approve the minutes from the March 28, 2025, meeting. Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain- None. E. REGULAR BUSINESS. 1. Consideration with possible action on the 2024 Annual Report on Tax Increment Finance Districts in the City of Green Bay. Moved by Brent Weycker, seconded by Cale Pulczinski to approve the 2024 Annual Report on Tax Increment Finance Districts in the City of Green Bay. Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain- None. 2. Consideration with possible action to review and discuss the draft Project Plan for Tax Incremental District Number Thirty (TID 30): US Bank Conversion. Moved by Adam Pfost, seconded by Cale Pulczinski to receive and place on file the 2024 Annual Report on Tax Increment Finance Districts in the City of Green Bay. Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain- None. 3. Consideration with possible action to review and discuss the draft Project Plan for Tax Incremental District Number Thirty-One (TID 31): One Astor. Moved by Cale Pulczinski, seconded by Adam Pfost to receive and place on file the 2024 Annual Report on Tax Increment Finance Districts in the City of Green Bay.  Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain- None. F. INFORMATIONAL. 1. Set next meeting date. The next meeting of the Joint Review Board is to be determined. G. ADJOURNMENT. Moved by Brent Weycker, seconded by Adam Pfost to adjourn. Motion Passed. Yes-Brent Weycker, Diana Ellenbecker, Cale Pulczinski, Adam Pfost, No-None, Abstain-None.  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 Rebecca Finco, Staff AGENDA ITEM # E.1 Consideration with possible action to appoint the Joint Review Board public member and chairperson and review the responsibilities of the Joint Review Board. BACKGROUND RECOMMENDATION FISCAL IMPACT ATTACHMENTS None 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 Rebecca Finco, Staff AGENDA ITEM # E.2 Consideration with possible action to review the public record, planning documents, and resolutions passed by the Redevelopment Authority and Common Council and adopt a resolution approving the creation of Tax Incremental District Thirty (TID 30): US Bank Conversion. BACKGROUND TID 30: US Bank Conversion is a proposed rehabilitation and conservation district comprising approximately 1.35 acres located at 425 Pine Street in Downtown Green Bay. TID 30 will be classified as a rehabilitation and conservation district based on the identification and classification of the property proposed to be included within the TID. The creation of the district is proposed to pay the costs of development incentives needed to support the planned residential conversion of the US Bank building to be undertaken by Living Downtown LLC. The project will include sixty-six (66) market rate rental housing units on floors two (2) through seven (7), with the existing commercial use on floor one (1) to be retained. Eligible project costs include development incentives, land acquisition, site preparation activities, utility and infrastructure improvements, street and streetscape improvements, and administration. In accordance with the Comprehensive Plan, the City of Green Bay ("City") and Redevelopment Authority of the City of Green Bay ("RDA") seek to create a more safe, productive, accessible, and innovative community in order to generate economic activity and tax base. The City and RDA have concluded that the property located at 425 Pine Street is not attaining its highest and best land use based on the Comprehensive Plan. But for the creation of TID 30, the future land use identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. A resolution establishing TID 30 and adoption of the Project Plan was approved by RDA on June 10, 2025 and by Common Council on June 24, 2025. RECOMMENDATION Staff recommends approval of the TID 30 Project Plan and adoption of a resolution to create TID 30: US Bank Conversion. 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 30 is financially viable. ATTACHMENTS 1. FINAL TID 30 Project Plan 06.18.25 2. TID 30 RDA Resolution 25-06 - Signed 6.10.25 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov 3. TID 30 CC Resolution - Signed 6.24.25 4. TID 30 JRB Resolution 8.12.25 page 2 of 2 June 24, 2025 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 30 US Bank Conversion Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: June 10th, 2025 Public Hearing Held: June 10th, 2025 Consideration by Redevelopment Authority: June 10th, 2025 Adoption by Common Council: June 24th, 2025 Approval by the Joint Review Board: Scheduled for 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 Equalized Value Test ...............................................................................................................................11 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District .....................................................................................................12 Map Showing Proposed Improvements and Uses ...................................................................... 19 Detailed List of Estimated Project Costs ........................................................................................21 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 .......................................................................................................................................................22 Annexed Property ................................................................................................................................... 27 Estimate of Property to Be Devoted to Retail Business .......................................................... 27 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances ................................................................................................................................................. 27 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ........................................................................................................................................................................28 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ........................................................................................................................................................28 List of Estimated Non-Project Costs .............................................................................................. 29 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ............................................................................................................................................. 30 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions ......................................................31 Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 30 (“District”) is a proposed In Need of Rehabilitation or Conservation District comprising approximately 1.35 acres located in downtown Green Bay. The District will be created to pay the costs of development incentives needed to support the planned residential conversion of the former US Bank tower (the “Project”) to be undertaken by Living Downtown LLC (the “Developer”). In addition to the incremental property value that will be created, the City expects construction-related job creation related to housing development, additional employment opportunities for commercial jobs post-construction, increased property values, increased income and sales tax collection, increased commercial activity, and other economic benefits from the purchase of goods and services related to the construction and operation of the Project. AUTHORITY The City is creating the District under the provisions of Wis. Stat. § 66.1105. ESTIMATED TOTAL PROJECT COST EXPENDITURES The City anticipates making total expenditures of approximately $7.46 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $7.00 million in Pay As You Go (“PAYGO”) developer incentives and $464 thousand in ongoing planning and administrative costs. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $8.44 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 its allowable 27 years. Tax Incremental District No. 30 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 Developer will incur costs to redevelop the property within the District that are not expected to 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 redevelopment will not occur. The development incentives included in this Plan are based on the approved Development Agreement 24-06 which prescribed the incentive would be provided on a PAYGO basis. 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. 2. 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. 3. Not less than 50% by area of the real property within the District is in need of rehabilitation or conservation work as defined by Wis. Stat. § 66.1337(2m)(a). 4. Based on the foregoing finding, the District is designated as a district in need of rehabilitation or conservation. 5. The Project Costs relate directly to the rehabilitation or conservation of property and improvements in the District, consistent with the purpose for which the District is created. 6. 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 4 7. 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. 8. 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, pursuant to Wis. Stat. § 66.1105(5)(b). 9. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 10. The Plan for the District is feasible and is in conformity with the Master Plan of the City. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 5 SECTION 2: Preliminary Map of Proposed District Boundary Map Found on Following Page. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 6 Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 7 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 8 Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 9 SECTION 4: Preliminary Parcel List and Analysis The District will consist of a single parcel as identified in the below tables: Parcel Data Designated Acres Rehab/ Parcel Address Owner Acres Rehab/ Conservation Number Conservation Condition 11-139 425 Pine St Living Downtown LLC 1.35 1.35 Condition 4 TOTALS 1.35 1.35 Percentage of TID Area Designated as in Need of Rehabilitation or Conservation (at least 50%) 100% Percentage of TID Area Not Designated as in Need of Rehabilitation 0% The parcel will be rehabilitated in accordance with the objectives of the urban renewal project and will include undertakings and activities for the prevention of the development of blighted, deteriorated or deteriorating areas, thereby qualifying the parcel as in need of rehabilitation or conservation. Calculation of Estimated Base Value1 Assessed Value Equalized Value 2 Parcel Land Improvement Total Land Improvement Total 11-139 595,600 2,265,900 2,861,500 745,900 2,837,700 3,583,600 TOTALS 595,600 2,265,900 2,861,500 745,900 2,837,700 3,583,600 1) Estimated based on values as of January 1, 2024. Actual base value will be as of January 1, 2025. 2) Calculation based on aggregate assessment ratio of 79.85%. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 10 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 value increment 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, 2024) $ 10,834,009,900 TID Valuation Limit @ 12% of Above Value $ 1,300,081,188 Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District $ 3,583,600 Incremental Value of Existing Districts (Jan. 1, 2024) $ 771,458,500 Total Value Subject to 12% Valuation Limit $ 775,042,100 Total Percentage of TID IN Equalized Value 7.15% Residual Value Capacity of TID IN Equalized Value $ 525,039,088 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $775,042,100. This value is less than the maximum of $1,300,081,188 in equalized value that is permitted for the City. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 11 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. 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, 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 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 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. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 12 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, 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 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 eligible Project Costs. 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 13 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. 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 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 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 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 Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 14 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 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 (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 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 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 15 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. 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, 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 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, 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 16 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. 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 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 implementing this program are considered eligible Project Costs. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 17 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 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 18 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 19  The City has identified funds for development incentives for the qualified development project on parcel 11‐139. Further, the City will incur administrative and other professional service expenses in the implementation of this Project Plan. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 20 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. Project Est. Cost ID Project Name/Type Phase I Ongoing Totals Est. Timing 1 Pay As You Go ("PAYGO") Development Incentives1 7,000,000 7,000,000 2025‐2053 2 Ongoing Planning & Administrative Costs 464,309 464,309 2025‐2053 Total Projects 7,000,000 464,309 7,464,309 Notes: 1) Represents the Tax Incentive Cap per Section III.C.2 of the revised Development Agreement 24‐06. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 21 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 $8.44 million in incremental value by January 1, 2026. Estimated valuations and timing for construction of the Project are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $17.32 per thousand of equalized value decreases 0.50% annually and values increase 1.00% annually from economic appreciation, the Project would generate $4.21 million in incremental tax revenue over the 27-year term of the District as shown in Table 2. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 22  Table 1 – Development Assumptions US Bank Construction Year Annual Total Construction Year Residential Rehab1 1 2025 8,439,500 8,439,500 2025 1 2 2026 0 2026 2 3 2027 0 2027 3 4 2028 0 2028 4 5 2029 0 2029 5 6 2030 0 2030 6 7 2031 0 2031 7 8 2032 0 2032 8 9 2033 0 2033 9 10 2034 0 2034 10 11 2035 0 2035 11 12 2036 0 2036 12 13 2037 0 2037 13 14 2038 0 2038 14 15 2039 0 2039 15 16 2040 0 2040 16 17 2041 0 2041 17 18 2042 0 2042 18 19 2043 0 2043 19 20 2044 0 2044 20 21 2045 0 2045 21 22 2046 0 2046 22 23 2047 0 2047 23 24 2048 0 2048 24 25 2049 0 2049 25 26 2050 0 2050 26 27 2051 0 2051 27 Totals 8,439,500 8,439,500 Notes: 1) Development Agreement 24‐06 estimated the assessed value of the property to be $9,600,000 after completion. Represents the equalized value increase using the 2024 aggregate ratio of 79.85% and deducting the estimated base value of $3,583,600. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 23  Table 2 – Tax Increment Projection Worksheet Type of District Rehabilitation Base Value 3,583,600 District Creation Date June 24, 2025 Economic Change Factor 1.00% Valuation Date Jan 1, 2025 Apply to Base Value Max Life (Years) 27 Base Tax Rate $17.41 End of Expenditure Period 22 6/24/2047 Rate Adjustment Factor ‐0.50% Revenue Periods/Final Year 27 2053 Extension Eligibility/Years Yes 3 Eligible Recipient District Yes Construction Value Valuation Economic Total Revenue Tax Year Added Year Change Increment Year Tax Rate1 Increment 1 2025 8,439,500 2026 0 8,439,500 2027 $17.32 146,168 2 2026 0 2027 84,395 8,523,895 2028 $17.23 146,891 3 2027 0 2028 85,239 8,609,134 2029 $17.15 147,619 4 2028 0 2029 86,091 8,695,225 2030 $17.06 148,349 5 2029 0 2030 86,952 8,782,178 2031 $16.98 149,084 6 2030 0 2031 87,822 8,869,999 2032 $16.89 149,822 7 2031 0 2032 88,700 8,958,699 2033 $16.81 150,563 8 2032 0 2033 89,587 9,048,286 2034 $16.72 151,308 9 2033 0 2034 90,483 9,138,769 2035 $16.64 152,057 10 2034 0 2035 91,388 9,230,157 2036 $16.56 152,810 11 2035 0 2036 92,302 9,322,458 2037 $16.47 153,567 12 2036 0 2037 93,225 9,415,683 2038 $16.39 154,327 13 2037 0 2038 94,157 9,509,840 2039 $16.31 155,091 14 2038 0 2039 95,098 9,604,938 2040 $16.23 155,858 15 2039 0 2040 96,049 9,700,988 2041 $16.15 156,630 16 2040 0 2041 97,010 9,797,997 2042 $16.07 157,405 17 2041 0 2042 97,980 9,895,977 2043 $15.98 158,184 18 2042 0 2043 98,960 9,994,937 2044 $15.90 158,967 19 2043 0 2044 99,949 10,094,887 2045 $15.83 159,754 20 2044 0 2045 100,949 10,195,835 2046 $15.75 160,545 21 2045 0 2046 101,958 10,297,794 2047 $15.67 161,340 22 2046 0 2047 102,978 10,400,772 2048 $15.59 162,138 23 2047 0 2048 104,008 10,504,779 2049 $15.51 162,941 24 2048 0 2049 105,048 10,609,827 2050 $15.43 163,747 25 2049 0 2050 106,098 10,715,926 2051 $15.36 164,558 26 2050 0 2051 107,159 10,823,085 2052 $15.28 165,373 27 2051 0 2052 108,231 10,931,316 2053 $15.20 166,191 Totals 8,439,500 2,491,816 Future Value of Increment 4,211,288 Notes: 1) Tax rate shown is actual 2024/2025 rate per DOR Form PC‐202 (Tax Increment Collection Worksheet). Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 24 Financing and Implementation The District’s primary expenditures will be development incentives. Incentives will be provided on a PAYGO basis from the tax increment generated by the Project and such incentives may be structured in one or more phases. PAYGO payments will be made from and strictly limited to the tax increments generated by the District. The PAYGO incentives are not considered City debt nor will the City appropriate funds to make PAYGO incentive payments from any other sources aside from the tax increment generated by the District. The City will also incur certain costs 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 (Table 3), the District is projected to require use of its entire 27-year maximum life to pay all Project cost liabilities and obligations. The projected closure is based on the various assumptions noted in this Plan and will vary dependent on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 25  Table 3 – Cash Flow Projected Revenues Projected Expenditures Balances MRO #1 2025 Ongoing Tax Total Living Downtown LLC1 Planning & Total Liabilities Year Increments Revenues $7,000,000 Administration Expenditures Annual Cumulative Outstanding Year 2025 0 35,000 35,000 (35,000) (35,000) 7,000,000 2025 2026 0 10,000 10,000 (10,000) (45,000) 7,000,000 2026 2027 146,168 146,168 124,243 10,300 134,543 11,625 (33,375) 6,875,757 2027 2028 146,891 146,891 124,858 10,609 135,467 11,425 (21,950) 6,750,900 2028 2029 147,619 147,619 125,476 10,927 136,403 11,216 (10,735) 6,625,424 2029 2030 148,349 148,349 126,097 11,255 137,352 10,997 263 6,499,327 2030 2031 149,084 149,084 126,721 11,593 138,314 10,770 11,033 6,372,606 2031 2032 149,822 149,822 127,348 11,941 139,289 10,533 21,565 6,245,257 2032 2033 150,563 150,563 127,979 12,299 140,277 10,286 31,851 6,117,279 2033 2034 151,308 151,308 128,612 12,668 141,280 10,029 41,880 5,988,666 2034 2035 152,057 152,057 129,249 13,048 142,297 9,761 51,640 5,859,418 2035 2036 152,810 152,810 129,889 13,439 143,328 9,482 61,123 5,729,529 2036 2037 153,567 153,567 130,532 13,842 144,374 9,193 70,315 5,598,997 2037 2038 154,327 154,327 131,178 14,258 145,435 8,891 79,207 5,467,820 2038 2039 155,091 155,091 131,827 14,685 146,512 8,578 87,785 5,335,993 2039 2040 155,858 155,858 132,480 15,126 147,605 8,253 96,038 5,203,513 2040 2041 156,630 156,630 133,135 15,580 148,715 7,915 103,953 5,070,378 2041 2042 157,405 157,405 133,794 16,047 149,841 7,564 111,516 4,936,583 2042 2043 158,184 158,184 134,457 16,528 150,985 7,199 118,716 4,802,127 2043 2044 158,967 158,967 135,122 17,024 152,147 6,821 125,536 4,667,004 2044 2045 159,754 159,754 135,791 17,535 153,326 6,428 131,964 4,531,213 2045 2046 160,545 160,545 136,463 18,061 154,524 6,021 137,985 4,394,750 2046 2047 161,340 161,340 137,139 18,603 155,742 5,598 143,583 4,257,611 2047 2048 162,138 162,138 137,818 19,161 156,979 5,160 148,743 4,119,794 2048 2049 162,941 162,941 138,500 19,736 158,236 4,705 153,448 3,981,294 2049 2050 163,747 163,747 139,185 20,328 159,513 4,234 157,682 3,842,109 2050 2051 164,558 164,558 139,874 20,938 160,812 3,746 161,428 3,702,234 2051 2052 165,373 165,373 140,567 21,566 162,133 3,240 164,668 3,561,668 2052 2053 166,191 166,191 141,262 22,213 163,475 2,716 167,384 3,420,405 2053 Totals 4,211,288 4,211,288 3,579,595 464,309 4,043,904 Totals Notes: PROJECTED CLOSURE YEAR 1) The Developer will receive 85% of the annual tax increment generated by the project up to a total incentive of $7,000,000 per Development Agreement 24‐06. LEGEND: CALLABLE MATURITIES END OF EXP. PERIOD Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 26 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. SECTION 12: Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances The proposed Plan is in general conformance with the City’s current zoning ordinances. Individual properties may require rezoning at the time of 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 Downtown land use which allows for and promotes high-intensity office, retail, housing, entertainment, convention and public land uses, preferably in mixed-use buildings with strong pedestrian orientations. 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. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 27 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 promote the orderly development of the City by rehabilitating and conserving property through the provision of appropriate financial incentives for private 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 Project 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 construction-related job creation, additional employment opportunities for commercial jobs post-construction, increased property values, increased income and sales tax collection, increased retail and commercial activity, and other economic benefits from the purchase of goods and services related to the construction and operation of the Project. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 28 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.  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 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. Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 29 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 30 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 2024/2025 levy year. Northeast Revenue Green Bay Area Wisconsin Tech. Revenue Year Brown County City of Green Bay School District College Total Year 2027 22,757 54,464 64,219 4,728 146,168 2027 2028 22,869 54,733 64,537 4,752 146,891 2028 2029 22,982 55,004 64,857 4,775 147,619 2029 2030 23,096 55,276 65,178 4,799 148,349 2030 2031 23,211 55,550 65,500 4,823 149,084 2031 2032 23,325 55,825 65,825 4,847 149,822 2032 2033 23,441 56,101 66,150 4,871 150,563 2033 2034 23,557 56,379 66,478 4,895 151,308 2034 2035 23,674 56,658 66,807 4,919 152,057 2035 2036 23,791 56,938 67,138 4,943 152,810 2036 2037 23,908 57,220 67,470 4,968 153,567 2037 2038 24,027 57,504 67,804 4,992 154,327 2038 2039 24,146 57,788 68,140 5,017 155,091 2039 2040 24,265 58,074 68,477 5,042 155,858 2040 2041 24,385 58,362 68,816 5,067 156,630 2041 2042 24,506 58,651 69,156 5,092 157,405 2042 2043 24,627 58,941 69,499 5,117 158,184 2043 2044 24,749 59,233 69,843 5,143 158,967 2044 2045 24,872 59,526 70,189 5,168 159,754 2045 2046 24,995 59,821 70,536 5,194 160,545 2046 2047 25,119 60,117 70,885 5,219 161,340 2047 2048 25,243 60,414 71,236 5,245 162,138 2048 2049 25,368 60,713 71,589 5,271 162,941 2049 2050 25,494 61,014 71,943 5,297 163,747 2050 2051 25,620 61,316 72,299 5,323 164,558 2051 2052 25,747 61,619 72,657 5,350 165,373 2052 2053 25,874 61,924 73,017 5,376 166,191 2053 Totals 655,647 1,569,165 1,850,243 136,233 4,211,288 Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 31  JOINT REVIEW BOARD RESOLUTION APPROVING THE CREATION OF TAX INCREMENTAL DISTRICT NO. 30, CITY OF GREEN BAY WHEREAS, the City of Green Bay (the “City”) seeks to create Tax Incremental District No. 30 (the “District”); and WHEREAS, Wisconsin Statutes Section 66.1105(4m)(a) requires that a Joint Review Board (the “JRB”) convene to consider such proposal; and WHEREAS, the JRB consists of one representative chosen by the School District; one representative chosen by the Technical College District; and one representative chosen by the County, all of whom have the power to levy taxes on property within the District; and one representative chosen by the City and one public member; and WHEREAS, the public member and JRB's chairperson were selected by a majority vote of the other JRB members before the public hearing required under Wisconsin Statutes Sections 66.1105 (4)(a) and (e) was held; and WHEREAS, all JRB members were appointed and the first JRB meeting was held within 14 days after the notice was published under Wisconsin Statutes Sections 66.1105 (4)(a) and (e); and WHEREAS, as required by Wisconsin Statutes Section 66.1105(4m)(b)1. the JRB has reviewed the public record, planning documents, resolution passed by the RDA, and the resolution passed by the Common Council; and WHEREAS, the JRB has considered whether, and concluded that, the District meets the following criteria as required by Wisconsin Statutes Section 66.1105(4m)(c): 1. The development expected in the District would not occur without the use of tax increment financing. 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. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing districts. NOW, THEREFORE, BE IT RESOLVED that the JRB approves the resolution passed by the Common Council creating the District, approving its Project Plan, and establishing its boundaries. BE IT FURTHER RESOLVED that in the judgment of the JRB the development described in the Project Plan would not occur but for creation of the District, that the economic benefits of the District, as measured by increased employment, business and personal income and property value, are sufficient to City of Green Bay Wisconsin Tax Incremental District No. 30 Joint Review Board Resolution compensate for the cost of the improvements, and that the benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing districts. BE IT FURTHER RESOLVED that the JRB approves those Project Costs identified in the Project Plan that will be made for projects located outside of, but within a one-half mile radius of the District, pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n. BE IT FURTHER RESOLVED that the JRB, as required by Wisconsin Statutes Section 66.1105(4m)(b)2m. has determined that the expected year of termination for purposes of Wisconsin Statutes Section 66.0602(3)(dq)1.b. is 2053, with final collection of tax increment to be the 2052 levy for the 2053 budget year. Passed and adopted this _____ day of , 2025. Resolution introduced and adoption moved by JRB member: Motion for adoption seconded by JRB member: On roll call motion passed by a vote of _____ ayes to _____ nays ATTEST: JRB Chairperson Signature Clerk Signature City of Green Bay Wisconsin Tax Incremental District No. 30 Joint Review Board Resolution  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 Rebecca Finco, Staff AGENDA ITEM # E.3 Consideration with possible action to review the public record, planning documents, and resolutions passed by the Redevelopment Authority and Common Council and adopt a resolution approving the creation of Tax Incremental District Thirty-One (TID 31). BACKGROUND TID 31: One Astor is a proposed blighted area district comprising approximately 5.57 acres located in the southern portion of Downtown Green Bay along South Adams Street and East Mason Street. TID 31 will be classified as a blighted area district based on the identification and classification of the properties proposed to be included within the TID. The creation of the district is proposed to pay the costs of development incentives needed to support an approximately 125-unit multifamily complex by One Astor Holdings LLC and the conversion of Fire Station 1 to a mixed office/retail building by MOWGS LLC. Eligible project costs include development incentives, property acquisition, site preparation activities, utility and infrastructure improvements, street and streetscape improvements, and administration. In accordance with the Comprehensive Plan, the City of Green Bay ("City") and Redevelopment Authority of the City of Green Bay ("RDA") seek to create a more safe, productive, accessible, and innovative community in order to generate economic activity and tax base. The City and RDA have concluded that the properties are not attaining their highest and best land uses based on the Comprehensive Plan. But for the creation of TID 31, the future land uses identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. A resolution establishing TID 31 and adoption of the Project Plan was approved by RDA on June 10, 2025 and by Common Council on June 24, 2025. RECOMMENDATION Staff recommends approval of the TID 31 Project Plan and adoption of a resolution to create TID 31: One Astor. 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 31 is financially viable. ATTACHMENTS 1. FINAL TID 31 Project Plan 06.18.25 2. TID 31 RDA Resolution - Signed 6.10.25 3. TID 31 CC Resolution - Signed 6.24.25 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov 4. TID 31 JRB Resolution 8.12.25 page 2 of 2 June 24, 2025 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 31 One Astor Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: June 10th, 2025 Public Hearing Held: June 10th, 2025 Consideration by Redevelopment Authority: June 10th, 2025 Adoption by Common Council: June 24th, 2025 Approval by the Joint Review Board: Scheduled for TBD TABLE OF CONTENTS Executive Summary.................................................................................................................................. 3 Preliminary Map of Proposed District Boundary .......................................................................... 6 Map Showing Existing Uses and Conditions...................................................................................11 Preliminary Parcel List and Analysis .................................................................................................13 Equalized Value Test ..............................................................................................................................15 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District .................................................................................................... 16 Map Showing Proposed Improvements and Uses ......................................................................23 Detailed List of Estimated Project Costs .......................................................................................25 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 ...................................................................................................................................................... 26 Annexed Property ....................................................................................................................................31 Estimate of Property to Be Devoted to Retail Business ...........................................................31 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances ..................................................................................................................................................31 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ........................................................................................................................................................................32 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ........................................................................................................................................................32 List of Estimated Non-Project Costs ...............................................................................................33 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ............................................................................................................................................. 34 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions .....................................................35 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 31 (“District”) is a proposed Blighted Area District comprising approximately 5.57 acres located in the southern portion of downtown Green Bay. The District will be created to pay the costs of development incentives needed to support an approximately 125 unit apartment complex by One Astor Holdings, LLC, and the conversion of Fire Station 1 to a mixed-use building to include a restaurant and office space (collectively, the “Projects”) by MOWGS LLC (One Astor Holdings, LLC and MOWGS LLC collectively referred to as the “Developers”). In addition to the incremental property value that will be created, the City expects construction- related job creation, additional employment opportunities for commercial jobs post-construction, increased property values, increased income and sales tax collection, increased retail and commercial activity, and other economic benefits from the purchase of goods and services related to the construction and operation of the Projects. AUTHORITY The City is creating the District under the provisions of Wis. Stat. § 66.1105. ESTIMATED TOTAL PROJECT COST EXPENDITURES The City anticipates making total expenditures of approximately $5.69 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $5.22 million in Pay As You Go (“PAYGO”) developer incentives and $464 thousand in ongoing planning and administrative costs. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $20.41 million will result from the Projects. 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 18 of its allowable 27 years. Tax Incremental District No. 31 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 Developers will incur costs to develop and redevelop the properties within the District which are not expected to be fully recovered through sale or rent while also generating market-appropriate investor returns. The City will evaluate requests from the Developers for Tax Incremental Financing (“TIF”) assistance and confirm that the public investment is necessary, and that “but for” that investment, the related development will not occur at all, in the same timeframe, or at the same level of investment. The development incentives included in this Plan are based on the approved Development Agreement 2025-03 and high level projections for the MOWGS LLC project. Both Projects are intended to be supported on a PAYGO basis. 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. 2. 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 Projects 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. 3. Not less than 50% by area of the real property within the District is a blighted area as defined by Wis. Stat. § 66.1105(2)(ae)1. 4. Based on the foregoing finding, the District is designated as a blighted area district. 5. The Project Costs relate directly to the elimination of blight in the District, consistent with the purpose for which the District is created. 6. 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 4 7. 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. 8. The City estimates that 7% 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). 9. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 10. The Plan for the District is feasible and is in conformity with the Master Plan of the City. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 5 SECTION 2: Preliminary Map of Proposed District Boundary Map Found on Following Page. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 6 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 7 Parcel Layout as of January 1, 2025 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 8 Parcel Layout as of January 1, 2026 COMBINED PARCELS *The identified parcel represents the combination of parcels 15-168-A and 15- 168-2 by Certified Survey Map. The new parcel number is not yet assigned. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 9 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 10 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 11 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 12 SECTION 4: Preliminary Parcel List and Analysis The District will consist of the parcels identified in the below tables: Parcel Data Designated Acres Parcel Blighted Address Owner Acres Number Blighted Condition ROW Areas 1.25 15-168-A 100 E. Mason St. Miller Land Investments LLC 1.74 1.74 Condition 2 15-168-2 0 S. Adams St. Miller Land Investments LLC 0.66 0.66 Condition 2 15-169 501 S. Washington St. City of Green Bay 0.33 0.33 Condition 1 15-20 521 S. Adams St. Cosmo LLC 0.27 0.27 Condition 2 15-23 501 S. Adams St. Cosmo LLC 1.33 1.33 Condition 2 TOTALS 5.57 4.32 Percentage of TID Area Designated as Blighted (at least 50%) 78% Percentage of TID Area Not Designated as Blighted 22% Condition 1: The identified parcel includes structures which by reason of dilapidation, deterioration, age or obsolescence, are conducive to ill health, juvenile delinquency, or crime, and which in its current state is detrimental to the public health, safety, morals or welfare. Costs associated with the remediation of existing structures have resulted in the property not developing under normal market conditions, substantially impairing and arresting the sound growth of the community, therefore rendering the parcel blighted. Condition 2: The identified parcels are areas which are predominantly open, and which consist primarily of land upon which buildings or structures have been demolished. The extraordinary costs associated with the redevelopment of the properties due to the deterioration of improvements, has resulted in the properties not developing under normal market conditions, substantially impairing and arresting the sound growth of the community, therefore rendering the parcels blighted. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 13  1 Calculation of Estimated Base Value 2 Assessed Value Equalized Value Overlapping Parcel Land Improvement Total Land Improvement Total TID 15-168-A 1,099,500 0 1,099,500 1,377,000 0 1,377,000 TID 53 15-168-2 99,000 0 99,000 124,000 0 124,000 15-169 0 0 0 0 0 0 TID 5 15-20 29,700 0 29,700 37,200 0 37,200 TID 5 15-23 117,900 0 117,900 147,700 0 147,700 TID 5 TOTALS 1,346,100 0 1,346,100 1,685,900 0 1,685,900 1) Estimated based on values as of January 1, 2024. Actual base value will be as of January 1, 2025. 2) Calculation based on aggregate assessment ratio of 79.85%. 3) The parcel is currently being removed from TID 5, pending DOR approval. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 14 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 value increment of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the City. The value of those parcels currently located within Tax Incremental District No. 5 that will be overlapped are not included in the base value of the District as that value is reflected within the total of existing incremental value. Calculation of City Equalized Value Limit City TID IN Equalized Value (Jan. 1, 2024) $ 10,834,009,900 TID Valuation Limit @ 12% of Above Value $ 1,300,081,188 Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District $ 1,685,900 Incremental Value of Existing Districts (Jan. 1, 2024) $ 771,458,500 Less: Value of Underlying TID Parcels $ (1,561,900) Total Value Subject to 12% Valuation Limit $ 771,582,500 Total Percentage of TID IN Equalized Value 7.12% Residual Value Capacity of TID IN Equalized Value $ 528,498,688 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $771,582,500. This value is less than the maximum of $1,300,081,188 in equalized value that is permitted for the City. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 15 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. 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, 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 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 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. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 16 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, 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 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 eligible Project Costs. 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 17 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. 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 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 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 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 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 18 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 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 (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 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 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 19 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. 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, 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 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, 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 20 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. 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 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 implementing this program are considered eligible Project Costs. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 21 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 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 22 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 23  The City has identified funds for development incentives for the qualified development projects on parcels 15‐168‐ A, 15‐168‐2, and 15‐169. Further, the City will incur administrative and other professional service expenses in the implementation of this Project Plan. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 24 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. Est. Cost Project Project Name/Type Phase I Ongoing Totals Est. Timing 1 Pay As You Go ("PAYGO") Development Incentives 1a. One Astor Holdings, LLC1 4,500,000 4,500,000 2025‐2045 1b. MOWGS LLC2 722,715 722,715 2025‐2047 2 Ongoing Planning & Administrative Costs 464,309 464,309 2025‐2053 Total Projects 5,222,715 464,309 5,687,024 Notes: 1) Represents the Tax Incentive Cap per Section III.C.2 of Development Agreement 2025‐03. 2) Estimated total assuming the project receives a 20‐year PAYGO incentive at 80% of the annual tax increment generated by the project. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 25 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 $20.41 million in incremental value by January 1, 2028. Estimated valuations and timing for construction of the Projects are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $17.32 per thousand of equalized value decreases 0.50% annually and values increase 1.00% annually from economic appreciation, the Projects would generate $9.34 million in incremental tax revenue over the 27-year term of the District as shown in Table 2. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 26  Table 1 – Development Assumptions Fire Station 1 One Astor Construction Construction Year 1 Redevelopment Annual Total Holdings, LLC Year (MOWGS LLC)2 Total Value Sq. Ft. Total Value Estimated Value per $250 1 2025 0 2025 1 2 2026 10,000 2,500,000 2,500,000 2026 2 3 2027 17,911,400 17,911,400 2027 3 4 2028 0 2028 4 5 2029 0 2029 5 6 2030 0 2030 6 7 2031 0 2031 7 8 2032 0 2032 8 9 2033 0 2033 9 10 2034 0 2034 10 11 2035 0 2035 11 12 2036 0 2036 12 13 2037 0 2037 13 14 2038 0 2038 14 15 2039 0 2039 15 16 2040 0 2040 16 17 2041 0 2041 17 18 2042 0 2042 18 19 2043 0 2043 19 20 2044 0 2044 20 21 2045 0 2045 21 22 2046 0 2046 22 23 2047 0 2047 23 24 2048 0 2048 24 25 2049 0 2049 25 26 2050 0 2050 26 27 2051 0 2051 27 Totals 17,911,400 10,000 2,500,000 20,411,400 Notes: 1) Development Agreement 2025‐03 estimated the assessed value of the property to be $15,500,000 after completion. Represents the equalized value increase using the 2024 aggregate ratio of 79.85% and deducting the estimated base value of $1,501,000. 2) Timing and values are estimates based on currently available information. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 27  Table 2 – Tax Increment Projection Worksheet Type of District Blighted Area Base Value 1,685,900 District Creation Date June 24, 2025 Economic Change Factor 1.00% Valuation Date Jan 1, 2025 Apply to Base Value Max Life (Years) 27 Base Tax Rate $17.41 End of Expenditure Period 22 6/24/2047 Rate Adjustment Factor ‐0.50% Revenue Periods/Final Year 27 2053 Extension Eligibility/Years Yes 3 Eligible Recipient District Yes Construction Value Valuation Economic Total Revenue Tax Year Added Year Change Increment Year Tax Rate1 Increment 1 2025 0 2026 0 0 2027 $17.32 0 2 2026 2,500,000 2027 0 2,500,000 2028 $17.23 43,082 3 2027 17,911,400 2028 25,000 20,436,400 2029 $17.15 350,418 4 2028 0 2029 204,364 20,640,764 2030 $17.06 352,152 5 2029 0 2030 206,408 20,847,172 2031 $16.98 353,895 6 2030 0 2031 208,472 21,055,643 2032 $16.89 355,647 7 2031 0 2032 210,556 21,266,200 2033 $16.81 357,408 8 2032 0 2033 212,662 21,478,862 2034 $16.72 359,177 9 2033 0 2034 214,789 21,693,650 2035 $16.64 360,955 10 2034 0 2035 216,937 21,910,587 2036 $16.56 362,741 11 2035 0 2036 219,106 22,129,693 2037 $16.47 364,537 12 2036 0 2037 221,297 22,350,990 2038 $16.39 366,341 13 2037 0 2038 223,510 22,574,500 2039 $16.31 368,155 14 2038 0 2039 225,745 22,800,245 2040 $16.23 369,977 15 2039 0 2040 228,002 23,028,247 2041 $16.15 371,809 16 2040 0 2041 230,282 23,258,530 2042 $16.07 373,649 17 2041 0 2042 232,585 23,491,115 2043 $15.98 375,499 18 2042 0 2043 234,911 23,726,026 2044 $15.90 377,357 19 2043 0 2044 237,260 23,963,286 2045 $15.83 379,225 20 2044 0 2045 239,633 24,202,919 2046 $15.75 381,102 21 2045 0 2046 242,029 24,444,948 2047 $15.67 382,989 22 2046 0 2047 244,449 24,689,398 2048 $15.59 384,885 23 2047 0 2048 246,894 24,936,292 2049 $15.51 386,790 24 2048 0 2049 249,363 25,185,655 2050 $15.43 388,704 25 2049 0 2050 251,857 25,437,511 2051 $15.36 390,629 26 2050 0 2051 254,375 25,691,886 2052 $15.28 392,562 27 2051 0 2052 256,919 25,948,805 2053 $15.20 394,505 Totals 20,411,400 5,537,405 Future Value of Increment 9,344,191 Notes: 1) Tax rate shown is actual 2024/2025 rate per DOR Form PC‐202 (Tax Increment Collection Worksheet). Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 28 Financing and Implementation The District’s primary expenditures will be development incentives. Incentives will be provided on a PAYGO basis from the tax increment generated by the Projects and such incentives may be structured in one or more phases. PAYGO payments will be made from and strictly limited to the tax increments generated by the District. The PAYGO incentives are not considered City debt nor will the City appropriate funds to make PAYGO incentive payments from any other sources aside from the tax increment generated by the District. The City will also incur certain costs 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 (Table 3), the District is projected to accumulate sufficient funds by the year 2044 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 on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 29  Table 3 – Cash Flow Projected Revenues Projected Expenditures Balances MRO #1 MRO #2 2025 2025 Ongoing Tax Total One Astor Holdings, LLC1 MOWGS LLC2 Planning & Total Liabilities Year Increments Revenues $4,500,000 $722,715 Administration Expenditures Annual Cumulative Outstanding Year 2025 0 35,000 35,000 (35,000) (35,000) 5,222,715 2025 2026 0 10,000 10,000 (10,000) (45,000) 5,222,715 2026 2027 0 0 0 0 10,300 10,300 (10,300) (55,300) 5,222,715 2027 2028 43,082 43,082 0 34,466 10,609 45,075 (1,993) (57,293) 5,188,249 2028 2029 350,418 350,418 261,054 34,636 10,927 306,617 43,800 (13,492) 4,892,559 2029 2030 352,152 352,152 262,346 34,808 11,255 308,409 43,743 30,251 4,595,405 2030 2031 353,895 353,895 263,645 34,980 11,593 310,218 43,678 73,929 4,296,780 2031 2032 355,647 355,647 264,950 35,153 11,941 312,044 43,604 117,532 3,996,677 2032 2033 357,408 357,408 266,261 35,327 12,299 313,887 43,520 161,053 3,695,088 2033 2034 359,177 359,177 267,579 35,502 12,668 315,749 43,428 204,480 3,392,007 2034 2035 360,955 360,955 268,904 35,678 13,048 317,629 43,325 247,806 3,087,425 2035 2036 362,741 362,741 270,235 35,855 13,439 319,528 43,213 291,019 2,781,336 2036 2037 364,537 364,537 271,572 36,032 13,842 321,447 43,090 334,109 2,473,732 2037 2038 366,341 366,341 272,917 36,210 14,258 323,385 42,957 377,066 2,164,605 2038 2039 368,155 368,155 274,268 36,390 14,685 325,343 42,812 419,878 1,853,947 2039 2040 369,977 369,977 275,625 36,570 15,126 327,321 42,656 462,534 1,541,752 2040 2041 371,809 371,809 276,990 36,751 15,580 329,320 42,489 505,023 1,228,012 2041 2042 373,649 373,649 278,361 36,933 16,047 331,340 42,309 547,331 912,719 2042 2043 375,499 375,499 279,739 37,115 16,528 333,383 42,116 589,447 595,864 2043 2044 377,357 377,357 281,123 37,299 17,024 335,447 41,910 631,358 277,442 2044 2045 379,225 379,225 164,433 37,484 17,535 219,452 159,774 791,131 75,525 2045 2046 381,102 381,102 0 37,669 18,061 55,731 325,372 1,116,503 37,856 2046 2047 382,989 382,989 37,856 18,603 56,459 326,530 1,443,033 0 2047 2048 384,885 384,885 0 19,161 19,161 365,724 1,808,757 2048 2049 386,790 386,790 19,736 19,736 367,054 2,175,811 2049 2050 388,704 388,704 20,328 20,328 368,377 2,544,187 2050 2051 390,629 390,629 20,938 20,938 369,691 2,913,878 2051 2052 392,562 392,562 21,566 21,566 370,996 3,284,874 2052 2053 394,505 394,505 22,213 22,213 372,292 3,657,167 2053 Totals 9,344,191 9,344,191 4,500,000 722,715 464,309 5,687,024 Totals Notes: PROJECTED CLOSURE YEAR 1) The Developer will receive 80% of the annual tax increment generated by the project up to a total incentive of $4,500,000 LEGEND: per Development Agreement 2025‐03. The maximum payment term is 23‐years and will terminate in 2048. CALLABLE MATURITIES 2) Assumes the project receives a 20‐year PAYGO incentive at 80% of the annual tax increment generated by the project. END OF EXP. PERIOD Tax Incremental District No. 30 Project Plan City of Green Bay Prepared by Ehlers Page | 30 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 7% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. SECTION 12: Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances The proposed Plan is in general conformance with the City’s current zoning ordinances. Individual properties may require rezoning at the time of 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 Downtown land use which allows for and promotes high-intensity office, retail, housing, entertainment, convention and public land uses, preferably in mixed-use buildings with strong pedestrian orientations. 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. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 31 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 promote the orderly development of the City by eliminating blighted areas through the provision of appropriate financial incentives for private 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 construction-related job creation, additional employment opportunities for commercial jobs post-construction, increased property values, increased income and sales tax collection, increased retail and commercial activity, and other economic benefits from the purchase of goods and services related to the construction and operation of the Projects. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 32 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.  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 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. Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 33 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 34 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 2024/2025 levy year. Northeast Revenue Green Bay Area Wisconsin Tech. Revenue Year Brown County City of Green Bay School District College Total Year 2027 0 0 0 0 0 2027 2028 6,707 16,053 18,928 1,394 43,082 2028 2029 54,556 130,569 153,957 11,336 350,418 2029 2030 54,826 131,215 154,719 11,392 352,152 2030 2031 55,097 131,865 155,485 11,448 353,895 2031 2032 55,370 132,517 156,255 11,505 355,647 2032 2033 55,644 133,173 157,028 11,562 357,408 2033 2034 55,920 133,833 157,805 11,619 359,177 2034 2035 56,196 134,495 158,587 11,677 360,955 2035 2036 56,474 135,161 159,372 11,735 362,741 2036 2037 56,754 135,830 160,160 11,793 364,537 2037 2038 57,035 136,502 160,953 11,851 366,341 2038 2039 57,317 137,178 161,750 11,910 368,155 2039 2040 57,601 137,857 162,551 11,969 369,977 2040 2041 57,886 138,539 163,355 12,028 371,809 2041 2042 58,173 139,225 164,164 12,087 373,649 2042 2043 58,461 139,914 164,977 12,147 375,499 2043 2044 58,750 140,607 165,793 12,207 377,357 2044 2045 59,041 141,303 166,614 12,268 379,225 2045 2046 59,333 142,002 167,439 12,328 381,102 2046 2047 59,627 142,705 168,267 12,389 382,989 2047 2048 59,922 143,412 169,100 12,451 384,885 2048 2049 60,219 144,121 169,937 12,512 386,790 2049 2050 60,517 144,835 170,779 12,574 388,704 2050 2051 60,816 145,552 171,624 12,637 390,629 2051 2052 61,117 146,272 172,473 12,699 392,562 2052 2053 61,420 146,996 173,327 12,762 394,505 2053 Totals 1,454,778 3,481,732 4,105,400 302,280 9,344,191 Tax Incremental District No. 31 Project Plan City of Green Bay Prepared by Ehlers Page | 35  JOINT REVIEW BOARD RESOLUTION APPROVING THE CREATION OF TAX INCREMENTAL DISTRICT NO. 31, CITY OF GREEN BAY WHEREAS, the City of Green Bay (the “City”) seeks to create Tax Incremental District No. 31 (the “District”); and WHEREAS, Wisconsin Statutes Section 66.1105(4m)(a) requires that a Joint Review Board (the “JRB”) convene to consider such proposal; and WHEREAS, the JRB consists of one representative chosen by the School District; one representative chosen by the Technical College District; and one representative chosen by the County, all of whom have the power to levy taxes on property within the District; and one representative chosen by the City and one public member; and WHEREAS, the public member and JRB's chairperson were selected by a majority vote of the other JRB members before the public hearing required under Wisconsin Statutes Sections 66.1105 (4)(a) and (e) was held; and WHEREAS, all JRB members were appointed and the first JRB meeting was held within 14 days after the notice was published under Wisconsin Statutes Sections 66.1105 (4)(a) and (e); and WHEREAS, as required by Wisconsin Statutes Section 66.1105(4m)(b)1. the JRB has reviewed the public record, planning documents, resolution passed by the RDA, and the resolution passed by the Common Council; and WHEREAS, the JRB has considered whether, and concluded that, the District meets the following criteria as required by Wisconsin Statutes Section 66.1105(4m)(c): 1. The development expected in the District would not occur without the use of tax increment financing. 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. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing districts. NOW, THEREFORE, BE IT RESOLVED that the JRB approves the resolution passed by the Common Council creating the District, approving its Project Plan, and establishing its boundaries. BE IT FURTHER RESOLVED that in the judgment of the JRB the development described in the Project Plan would not occur but for creation of the District, that the economic benefits of the District, as measured by increased employment, business and personal income and property value, are sufficient to City of Green Bay Wisconsin Tax Incremental District No. 31 Joint Review Board Resolution compensate for the cost of the improvements, and that the benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing districts. BE IT FURTHER RESOLVED that the JRB approves those Project Costs identified in the Project Plan that will be made for projects located outside of, but within a one-half mile radius of the District, pursuant to Wisconsin Statutes Section 66.1105(2)(f)1.n. BE IT FURTHER RESOLVED that the JRB, as required by Wisconsin Statutes Section 66.1105(4m)(b)2m. has determined that the expected year of termination for purposes of Wisconsin Statutes Section 66.0602(3)(dq)1.b. is 2053, with final collection of tax increment to be the 2052 levy for the 2053 budget year. Passed and adopted this _____ day of , 2025. Resolution introduced and adoption moved by JRB member: Motion for adoption seconded by JRB member: On roll call motion passed by a vote of _____ ayes to _____ nays ATTEST: JRB Chairperson Signature Clerk Signature City of Green Bay Wisconsin Tax Incremental District No. 31 Joint Review Board Resolution  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 Rebecca Finco, Staff AGENDA ITEM # E.4 Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Thirty-Two (TID 32): The Pines. BACKGROUND Tax Incremental District Thirty-Two (TID 32) is a proposed In Need of Rehabilitation or Conservation District comprising approximately 10.10 acres of property located in the eastern central portion of the City at 0 Deuchert St, generally bounded by N Danz Ave to the east, N Bader St to the south, Highland Park Ave to the west, and Morrow St to the north. The District will be created to pay the costs of development incentives needed to support the infill development of 41 single-family homes by Broadway Realty, LLC. Eligible project costs include development incentives, property acquisition, site preparation activities, utility and infrastructure improvements, street and streetscape improvements, and administration. Proposed costs include projects within the proposed boundary and within a one-half (1/2) mile radius of the proposed boundary of the TID. In accordance with the Comprehensive Plan, the City of Green Bay ("City") and Redevelopment Authority of the City of Green Bay ("RDA") seek to create a more safe, productive, accessible, and innovative community in order to generate economic activity and tax base. City staff have concluded that the property is not attaining its highest and best land use based on the Comprehensive Plan. But for the creation of a Tax Increment District ("TID"), the future land use identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. RECOMMENDATION Recommend the JRB receive and place on file the Project Plan for TID 32: The Pines and forward the plan to the RDA and Common Council for their consideration of a creation resolution to establish TID 32. FISCAL IMPACT A fiscal impact analysis has been included as part of the draft project plan and will be discussed at the meeting. ATTACHMENTS 1. DRAFT TID 32 Project Plan 07.22.25 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov August 12, 2025 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 32 The Pines T Prepared by: AF Ehlers D N19W24400 Riverwood Drive, R Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: August 12th, 2025 Public Hearing Held: August 12th, 2025 Consideration by RDA: August 12th, 2025 Consideration by Common Council: September 16th, 2025 Consideration by the Joint Review Board: Scheduled for TBD TABLE OF CONTENTS Executive Summary .....................................................................................................................................3 Preliminary Map of Proposed District Boundary ............................................................................ 6 Map Showing Existing Uses and Conditions .................................................................................... 9 Preliminary Parcel List and Analysis .................................................................................................... 11 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 ........................................................................ 21 Detailed List of Estimated Project Costs ......................................................................................... 24 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 .......................................................................................................................................................... 26 Annexed Property ...................................................................................................................................... 31 R Estimate of Property to Be Devoted to Retail Business ............................................................ 31 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances ..................................................................................................................................................... 31 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ........................................................................................................................................................................... 32 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ........................................................................................................................................................... 32 List of Estimated Non-Project Costs ................................................................................................. 33 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ................................................................................................................................................. 34 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions...................................................... 36 Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 32 (“District”) is a proposed In Need of Rehabilitation or Conservation District comprising approximately 10.10 acres located in the eastern central portion of the City generally bounded by N Danz Ave to the east, N Bader St to the south, Highland Park Ave to the west, and Morrow St to the north. The District will be created to pay the costs of development incentives needed to support the infill development of 41 single- family homes (the “Project”) by Broadway Realty, LLC (the “Developer”). In addition to the incremental property value that will be created, the City expects short-term construction related job creation related to housing development, ongoing employment for jobs in maintenance, landscaping, etc., increased retail and service demand, provision of new housing units to address a shortage in T the City, additional school district revenue, and the expansion of City and utility infrastructure. AUTHORITY AF The City is creating the District under the provisions of Wis. Stat. § 66.1105. ESTIMATED TOTAL PROJECT COST EXPENDITURES The City anticipates making total expenditures of approximately $2.46 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). D Project Costs include an estimated $2.00 million in Pay As You Go (“PAYGO”) developer incentives and $464 thousand in ongoing planning and R administrative costs. The City may also incur future costs for additional public infrastructure and right of way improvements within the District, but no such costs are known at the point of District creation. The Plan includes an additional estimated $6.88 million for project costs within one half mile of the District’s boundaries. Whether improvements will be needed and when they may be needed is undetermined. Cost estimates are included in Sections 6 and 8 of this Plan, but such projects will only be funded from the District to the extent funds are available and the improvements are for the benefit of the District and needed to implement the Plan. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $11.28 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 Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 3 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 14 of its allowable 27 years. 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 Developer will incur costs to redevelop the property within the District that are not expected to be fully recovered through sale or rent while also T 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” AF that investment, the related redevelopment will not occur. The development incentives included in this Plan are based on the approved Development Agreement 2025-04 (the “Agreement”) which prescribed the incentive would be provided on a PAYGO basis to assist with the costs associated with the construction of Public Improvements (defined in Section D II.N. of the Agreement), environmental remediation, and asbestos R abatement as required by State and Federal law. 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. 2. 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 4 3. Not less than 50% by area of the real property within the District is in need of rehabilitation or conservation work as defined by Wis. Stat. § 66.1337(2m)(a). 4. Based on the foregoing finding, the District is designated as a district in need of rehabilitation or conservation. 5. The Project Costs relate directly to the rehabilitation or conservation of property and improvements in the District, consistent with the purpose for which the District is created. 6. 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. 7. 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. T 8. 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, pursuant to Wis. Stat. § 66.1105(5)(b). AF 9. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 10. The Plan for the District is feasible and is in conformity with the Master Plan of the City. DR Tax Incremental District No. 32 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 6  T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 7  T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 8 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 9  T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 10 SECTION 4: Preliminary Parcel List and Analysis The District will consist of a single parcel as identified in the below tables: Parcel Data Acres Rehab/ Parcel Address Owner Acres Rehab/ Conservation Number Conservation Condition 21-1229 0 DEUCHERT ST BROADWAY REALTY LLC 10.10 10.10 Condition 3 TOTALS 10.10 10.10 Percentage of TID Area Designated as in Need of Rehabilitation or Conservation (at least 50%) 100% The parcel will require the installation of streets, utilities, and other T improvements necessary for carrying out the objectives of the urban renewal project, thereby qualifying the parcel as in need of rehabilitation or conservation. AF Calculation of Estimated Base Value Parcel Land Assessed Value Improvement 1 Total Land Equalized Value2 Improvement Total 21-1229 TOTALS DR 493,400 493,400 0 0 493,400 493,400 617,900 617,900 0 0 617,900 617,900 1) Estimated based on values as of January 1, 2024. Actual base value will be as of January 1, 2025. 2) Calculation based on aggregate assessment ratio of 79.85%. Tax Incremental District No. 32 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 value increment 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, 2024) $ 10,834,009,900 TID Valuation Limit @ 12% of Above Value $ 1,300,081,188 Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District $ 617,900 T Incremental Value of Existing Districts (Jan. 1, 2024) Total Value Subject to 12% Valuation Limit $ $ 771,458,500 772,076,400 AF Total Percentage of TID IN Equalized Value Residual Value Capacity of TID IN Equalized Value $ 7.13% 528,004,788 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $772,076,400. This value is less than the maximum of $1,300,081,188 in equalized value that is D permitted for the City. R Tax Incremental District No. 32 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. 32 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, driveways, sidewalks, utilities, stormwater management practices and other T 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. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 14 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. 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 T provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities AF Sanitary Sewer System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project D Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: collection mains; manholes and cleanouts; service laterals; force R 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 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 Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 15 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 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 T stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or AF 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 (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 D corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project R 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 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. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 16 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. 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 T include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation AF of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, 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 D To attract development consistent with the objectives of this Plan, the City may R 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, 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. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 17 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. 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. T Revolving Loan/Grant Program (Development Incentives) AF 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 D 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, R 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 implementing this program are considered eligible Project Costs. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 18 Miscellaneous Projects Outside the Tax Increment District 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 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 may need to make improvements to streets and other infrastructure adjacent to or within a half-mile of the District to accommodate traffic resulting from the Project. Whether improvements will be needed and when they may be needed is undetermined. Current cost estimates are included below, but projects will only be funded from the District to the extent funds are available and the improvements are for the benefit of the District and needed to implement the Plan. The City may pro-rate the TID T contribution to the projects to match costs to the benefit provided to the District. Danz Park Shelter Ballfield 1 AF Baird Creek Trail Resurfacing Other Trail Improvements Roller Hockey Court $250,000 $350,000 $400,000 $50,000 $250,000 D Henry St Bridge over Baird Creek Danz Avenue - Deckner Avenue to Newberry Avenue R Wesley Avenue - S Danz Avenue to 1/2 mile boundary Morning Star Trail - Newberry Avenue to 1/2 mile boundary Skyline Boulevard (ES)- Bretcoe Drive to 1/2 mile boundary Skyline Boulevard (WS) - Oakdale Avenue to 1/2 mile $1,700,000 $511,600 $312,000 $60,000 $385,600 $120,000 boundary Skyline Boulevard - Newberry Avenue to Oakdale Avenue $140,000 Bretcoe Drive - Skyline Boulevard (W) to 1/2 mile boundary $260,000 Newberry Avenue - 1/2 mile boundary to Reimer Street $352,000 Oakdale Avenue - Jacob Street to Lau Street $128,000 Schober Street - Newberry Avenue to Deckner Avenue $518,400 Reimer Street - Newberry Avenue to Deckner Avenue $516,400 Huth Street - Newberry Avenue to Deckner Avenue $516,400 Deuchert Street - District Boundary to N Danz Avenue $56,000 Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 19 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 salaries. Costs allocated will bear a direct connection to the time spent by City T employees relating to the implementation of the Plan. Financing Costs AF 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. DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 20 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 21  The City has identified funds for development incentives for the qualified development project on parcel 21-1229. Further, the City will incur administrative and other professional service expenses in the implementation of this Project Plan. T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 22  T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 23 SECTION 8: Detailed List of Estimated Project Costs The list on the following page 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. T AF DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 24 Project Est. Cost ID Project Name/Type Phase I Future Ongoing Totals 1/2 Mile Est. Timing 1 Pay As You Go ("PAYGO") Development Incentives1 2,000,000 2,000,000 2025-2041 2 1/2 Mile Improvements2 2a Danz Park Shelter 250,000 250,000 250,000 TBD Ballfield 1 350,000 350,000 350,000 TBD Baird Creek Trail Resurfacing 400,000 400,000 400,000 TBD Other Trail Improvements 50,000 50,000 50,000 TBD Roller Hockey Court 250,000 250,000 250,000 TBD 2b Henry St Bridge over Baird Creek 1,700,000 1,700,000 1,700,000 TBD 2c S Danz Avenue - Deckner Avenue to Newberry Avenue 511,600 511,600 511,600 TBD 2d 2e 2f 2g Wesley Avenue - S Danz Avenue to 1/2 mile boundary Morning Star Trail - Newberry Avenue to 1/2 mile boundary Skyline Boulevard (ES)- Bretcoe Drive to 1/2 mile boundary Skyline Boulevard (WS) - Oakdale Avenue to 1/2 mile boundary T 312,000 60,000 385,600 120,000 312,000 60,000 385,600 120,000 312,000 60,000 385,600 120,000 TBD TBD TBD TBD 2h 2m 2i 2j 2k 2l 2n Oakdale Avenue - Jacob Street to Lau Street Huth Street - Newberry Avenue to Deckner Avenue AF Skyline Boulevard - Newberry Avenue to Oakdale Avenue Bretcoe Drive - Skyline Boulevard (W) to 1/2 mile boundary Newberry Avenue - 1/2 mile boundary to Reimer Street Schober Street - Newberry Avenue to Deckner Avenue Reimer Street - Newberry Avenue to Deckner Avenue 140,000 260,000 352,000 128,000 518,400 516,400 516,400 140,000 260,000 352,000 128,000 518,400 516,400 516,400 140,000 260,000 352,000 128,000 518,400 516,400 516,400 TBD TBD TBD TBD TBD TBD TBD 3 2o Total Projects R Deuchert Street - District Boundary to N Danz Avenue Ongoing Planning & Administrative Costs 2,000,000 56,000 6,876,400 464,309 464,309 56,000 464,309 9,340,709 56,000 6,876,400 TBD 2025-2053 Notes: D 1) Represents the Tax Incentive Cap per Section III.C.2 of Development Agreement 2025-03. The actual incentive may be lower if or the total amount of Qualified Expenses incurred is less than $2.00 million. 2)The City may need to make improvements to streets and other infrastructure adjacent to or within a half-mile of the District to accommodate traffic resulting from the Project. Whether improvements will be needed and when they may be needed is undetermined. Current cost estimates are included below, but projects will only be funded from the District to the extent funds are available and the improvements are for the benefit of the District and needed to implement the Plan. The City may pro-rate the TID contribution to the projects to match costs to the benefit provided to the District. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 25 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 $11.28 million in incremental value by January 1, 2028. 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 $17.32 per thousand of equalized value decreases 0.50% annually and values increase 1.00% annually from economic AF appreciation, the Project would generate $5.13 million in incremental tax revenue over the 27-year term of the District as shown in Table 2. DR Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 26  Table 1 – Development Assumptions Construction Broadway Realty, Construction Annual Total Year LLC Year 1 2025 0 2025 1 2 2026 0 2026 2 3 2027 11,280,000 11,280,000 2027 3 4 2028 0 2028 4 5 2029 0 2029 5 6 2030 0 2030 6 7 2031 0 2031 7 8 2032 0 2032 8 9 2033 0 2033 9 10 2034 0 2034 10 11 2035 0 2035 11 12 13 14 2036 2037 2038 T 0 0 0 2036 2037 2038 12 13 14 15 16 17 18 19 20 2039 2040 2041 2042 2043 2044 AF 0 0 0 0 0 0 2039 2040 2041 2042 2043 2044 15 16 17 18 19 20 D 21 22 23 24 25 26 27 R 2045 2046 2047 2048 2049 2050 2051 0 0 0 0 0 0 0 2045 2046 2047 2048 2049 2050 2051 21 22 23 24 25 26 27 Totals 11,280,000 11,280,000 Notes: 1) Development Agreement 2025-04 estimated the assessed value of the property to be $9,500,000 after completion. Represents the equalized value increase using the 2024 aggregate ratio of 79.85% and deducting the estimated base value of $617,900. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 27  Table 2 – Tax Increment Projection Worksheet Type of District Rehabilitation Base Value 617,900 District Creation Date September 16, 2025 Economic Change Factor 1.00% Valuation Date Jan 1, 2025 Apply to Base Value Max Life (Years) 27 Base Tax Rate $17.41 End of Expenditure Period 22 9/16/2047 Rate Adjustment Factor -0.50% Revenue Periods/Final Year 27 2053 Extension Eligibility/Years Yes 3 Eligible Recipient District Yes Construction Valuation Economic Total Revenue Year Value Added Year Change Increment Year Tax Rate1 Tax Increment 1 2025 0 2026 0 0 2027 $17.32 0 2 2026 0 2027 0 0 2028 $17.23 0 3 2027 11,280,000 2028 0 11,280,000 2029 $17.15 193,415 4 2028 0 2029 112,800 11,392,800 2030 $17.06 194,373 5 2029 0 2030 113,928 11,506,728 2031 $16.98 195,335 6 2030 0 2031 115,067 11,621,795 2032 $16.89 196,302 7 2031 0 2032 116,218 11,738,013 2033 $16.81 197,273 8 9 10 11 2032 2033 2034 2035 0 0 0 0 2033 2034 2035 2036 T 117,380 118,554 119,739 120,937 11,855,393 2034 11,973,947 2035 12,093,687 2036 12,214,624 2037 $16.72 $16.64 $16.56 $16.47 198,250 199,231 200,217 201,208 12 13 14 15 16 17 18 19 2036 2037 2038 2039 2040 2041 2042 2043 0 0 0 0 0 0 0 0 AF2037 2038 2039 2040 2041 2042 2043 2044 122,146 123,368 124,601 125,847 127,106 128,377 129,661 130,957 12,336,770 2038 12,460,138 2039 12,584,739 2040 12,710,586 2041 12,837,692 2042 12,966,069 2043 13,095,730 2044 13,226,687 2045 $16.39 $16.31 $16.23 $16.15 $16.07 $15.98 $15.90 $15.83 202,204 203,205 204,211 205,222 206,238 207,259 208,285 209,316 20 21 22 23 24 25 26 27 DR 2044 2045 2046 2047 2048 2049 2050 2051 0 0 0 0 0 0 0 0 2045 2046 2047 2048 2049 2050 2051 2052 132,267 133,590 134,925 136,275 137,637 139,014 140,404 141,808 13,358,954 2046 13,492,544 2047 13,627,469 2048 13,763,744 2049 13,901,381 2050 14,040,395 2051 14,180,799 2052 14,322,607 2053 $15.75 $15.67 $15.59 $15.51 $15.43 $15.36 $15.28 $15.20 210,352 211,393 212,440 213,491 214,548 215,610 216,677 217,750 Totals 11,280,000 3,042,607 Future Value of Increment 5,133,805 Notes: 1) Tax rate shown is actual 2024/2025 rate per DOR Form PC-202 (Tax Increment Collection Worksheet). Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 28 Financing and Implementation The District’s primary expenditures will be development incentives. Incentives will be provided on a PAYGO basis from the tax increment generated by the Project and such incentives may be structured in one or more phases. PAYGO payments will be made from and strictly limited to the tax increments generated by the District. The PAYGO incentives are not considered City debt nor will the City appropriate funds to make PAYGO incentive payments from any other sources aside from the tax increment generated by the District. The City may also incur certain costs to construct public infrastructure within a half mile of the District’s boundary 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 2040 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 29  Table 3 – Cash Flow Projected Revenues Projected Expenditures Balances MRO #1 2025 Tax Total Broadway Realty, LLC1 Ongoing Planning Total Liabilities Year Increments Revenues $2,000,000 & Administration Expenditures Annual Cumulative Outstanding Year 2025 0 35,000 35,000 (35,000) (35,000) 2,000,000 2025 2026 0 10,000 10,000 (10,000) (45,000) 2,000,000 2026 2027 0 0 10,300 10,300 (10,300) (55,300) 2,000,000 2027 2028 0 0 10,609 10,609 (10,609) (65,909) 2,000,000 2028 2029 193,415 193,415 154,732 10,927 165,659 27,756 (38,153) 1,845,268 2029 2030 194,373 194,373 155,498 11,255 166,753 27,619 (10,534) 1,689,770 2030 2031 2032 2033 2034 2035 195,335 196,302 197,273 198,250 199,231 195,335 196,302 197,273 198,250 199,231 156,268 157,041 157,819 158,600 159,385 T11,593 11,941 12,299 12,668 13,048 167,861 168,982 170,117 171,268 172,433 27,474 27,320 27,156 26,982 26,799 16,940 44,260 71,416 98,398 125,197 1,533,502 1,376,461 1,218,642 1,060,042 900,657 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 200,217 201,208 202,204 203,205 204,211 205,222 206,238 207,259 208,285 200,217 201,208 202,204 203,205 204,211 205,222 206,238 207,259 208,285 AF 160,174 160,967 161,764 162,564 163,369 91,819 0 13,439 13,842 14,258 14,685 15,126 15,580 16,047 16,528 17,024 173,613 174,809 176,021 177,250 178,495 107,399 16,047 16,528 17,024 26,604 26,399 26,183 25,956 25,716 97,823 190,191 190,730 191,260 151,801 178,201 204,384 230,340 256,056 353,879 544,070 734,800 926,061 740,483 579,516 417,753 255,188 91,819 0 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 209,316 210,352 211,393 212,440 213,491 214,548 R 209,316 210,352 211,393 212,440 213,491 214,548 17,535 18,061 18,603 19,161 19,736 20,328 17,535 18,061 18,603 19,161 19,736 20,328 191,781 192,291 192,790 193,278 193,755 194,220 1,117,841 1,310,132 1,502,922 1,696,201 1,889,956 2,084,176 2045 2046 2047 2048 2049 2050 2051 2052 2053 Totals Notes: D 215,610 216,677 217,750 5,133,805 215,610 216,677 217,750 5,133,805 2,000,000 20,938 21,566 22,213 464,309 20,938 21,566 22,213 2,464,309 194,672 195,111 195,537 2,278,848 2,473,959 2,669,496 PROJECTED CLOSURE YEAR 2051 2052 2053 Totals 1) The Developer will receive 80% of the annual tax increment generated by the project up to a total incentive of $2,000,000 or the actual amount of Qualified Expenses incurred if such costs are less than $2,000,000. LEGEND: CALLABLE MATURITIES END OF EXP. PERIOD Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 30 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. SECTION 12: T 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 medium / high density housing. 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 31 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 rehabilitating and conserving property through the provision of appropriate financial incentives for private development projects. Through use of tax increment financing, the City can AF attract new investment that results in increased tax base. Development will occur in an orderly fashion in accordance with approved plans so that the Project 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 short-term construction related job creation related to housing development, ongoing employment for jobs in maintenance, D landscaping, etc., increased retail and service demand, provision of new housing units to address a shortage in the City, additional school district R revenue, and the expansion of City and utility infrastructure. Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 32 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 33 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. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 34 NEED WET SIGNATURE & DATED LEGAL OPINION ON ATTORNEY LETTERHEAD SAMPLE Mayor City of Green Bay 100 N Jefferson St Green Bay, Wisconsin 54301 RE: Project Plan for Tax Incremental District No. 32 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 T advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. AF 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 City of Green Bay Tax Incremental District No. 32 is complete and complies with the provisions of Wisconsin Statute 66.1105. D Sincerely, R City Attorney Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 35 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 2024/2025 levy year. Northeast Revenue City of Green Green Bay Area Wisconsin Tech. Revenue Year Brown County Bay School District College Total Year 2027 0 0 0 0 0 2027 2028 0 0 0 0 0 2028 2029 2030 2031 30,112 30,261 30,411 72,068 72,425 72,784 T 84,978 85,398 85,821 6,257 6,288 6,319 193,415 194,373 195,335 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 30,562 30,713 30,865 31,018 31,171 31,326 31,481 AF 73,144 73,506 73,870 74,235 74,603 74,972 75,343 86,246 86,673 87,102 87,533 87,966 88,402 88,839 6,350 6,382 6,413 6,445 6,477 6,509 6,541 196,302 197,273 198,250 199,231 200,217 201,208 202,204 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 DR 31,637 31,793 31,951 32,109 32,268 32,427 32,588 75,716 76,091 76,468 76,846 77,227 77,609 77,993 89,279 89,721 90,165 90,611 91,060 91,511 91,964 6,574 6,606 6,639 6,672 6,705 6,738 6,771 203,205 204,211 205,222 206,238 207,259 208,285 209,316 2039 2040 2041 2042 2043 2044 2045 2046 32,749 78,379 92,419 6,805 210,352 2046 2047 32,911 78,767 92,876 6,838 211,393 2047 2048 33,074 79,157 93,336 6,872 212,440 2048 2049 33,238 79,549 93,798 6,906 213,491 2049 2050 33,403 79,943 94,262 6,941 214,548 2050 2051 33,568 80,338 94,729 6,975 215,610 2051 2052 33,734 80,736 95,198 7,009 216,677 2052 2053 33,901 81,136 95,669 7,044 217,750 2053 Totals 799,272 1,912,904 2,255,554 166,076 5,133,805 Tax Incremental District No. 32 Project Plan City of Green Bay Prepared by Ehlers Page | 36  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 Rebecca Finco, Staff AGENDA ITEM # F.1 Tax Incremental District Twelve (TID 12): I-43 Industrial Park Affordable Housing Extension. BACKGROUND Tax Incremental District Twelve (TID 12): I-43 Industrial Park has accumulated aggregate incremental property taxes equal to or greater than the amount of total project costs, and in accordance with Wis. Stats. §66.1105, shall be required to close as of its termination date of September 6, 2025. Wis. Stats. §66.1105(6)(g) permits the City to extend the life of a TID that is required to close for up to one (1) additional year, so long as all incremental property taxes from such additional year are used to improve housing stock within the City. No less than seventy-five percent (75%) of said incremental property taxes from such additional year shall be allocated to affordable housing projects, with affordable being defined as housing that costs no more than thirty percent (30%) of the gross monthly income of a household. As proposed, the TID 12 Affordable Housing Extension would extend the life of TID 12 for twelve-months beyond the date of an adopted municipal resolution, which will go before Common Council for consideration on August 19, 2025. This will allow the final year's increment, collected in January 2027 from the 2026 tax roll, to be transferred to the Tax increment District Affordable Housing (TIDAH) fund to improve and create housing stock within the City. This extension would generate $3.4M in TIDAH funding. If an Affordable Housing Extension Resolution is adopted, it is necessary for the municipality to adopt a Termination Resolution for TID 12 prior to August 18, 2026. RECOMMENDATION FISCAL IMPACT ATTACHMENTS None 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2025 AGENDA ITEM # F.2 Set next meeting date to consider approval of Tax Incremental District #32. BACKGROUND RECOMMENDATION FISCAL IMPACT ATTACHMENTS None 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov