Recording in progress.
Hello, all.
I'll call together the agenda of the tax
incremental district joint review board for August 25,
starting at 11:30.
Taking a roll call.
Brent Weicker, I don't see him on here.
Must be excused.
We have Diana jacket.
Kapuscinski present.
Adam fost here, and Dan teeters is excused.
Moving on to the approval of the agenda.
Approval of the agenda for the.
For Tuesday, August 25, 2026 meeting
of the tax incremental district joint review board.
Entertain a motion on the agenda.
This is Adam.
I'll move approval.
All right.
We have a motion by Adam, second by Cale.
All in favor.
Aye Aye.
Aye that passes.
Moving on to the approval of minutes.
Approval of the minutes from the July 24, 2026 meeting.
This is Adam.
I'll move.
Approval second the game.
All right.
We have a motion by Adam.
Second by Cale.
All in favor.
Aye that passes.
Moving on to regular business.
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 number 33, TID 33 and Locust.
Rebecca, I will take that one.
And good morning, everybody.
Thanks for being here today.
I know we've had a very busy summer with DRB meeting,
so appreciate your time today.
We have two regular business agenda items, one being our 1033
creation and one being 1034.
Both of them have been following the same trajectory as
far as timeline of approvals.
As you all remember, back on July 14,
this board met for the initial review of both of these tids,
followed by the RDA meeting that afternoon
where the public hearing was held, and then
August 18, approval by council.
So that brings us to today, where the JRB now is reviewing
all of the documents that we've had so far, including
the final project plans, the resolutions that have already
been approved by RDA council, and of course,
to answer any remaining questions
that you might have on either of these tids.
As a reminder, TID 33 is a proposed blighted district.
It is approximately 34.3 acres, generally located
along elk Avenue at the intersection
of Belt and Locust Street.
The district is proposed to facilitate redevelopment
of the parcel you're seeing on your screen,
just to the South of belt, to be a 90 unit multifamily
development consisting of 330 unit buildings
and a parking garage facility.
Eligible project costs include development incentives, land
acquisition, site preparation, environmental assessment
and remediation, utility and infrastructure improvements,
street and streetscape improvements,
and administrative expenses, and those eligible project costs
also extend within that half mile boundary of the district,
as permitted by Wisconsin's TIF laws.
We've been working with Ehlers, our consultant,
and our city is on the line here today
to evaluate both the developer's tiff application
and to work on the project plan.
So staff definitely feels as though the request meets the but
for test, and that this project wouldn't move forward
at the proposed scale value or the time frame
without this TIFF assistance.
So that's an overview of where we are now.
We do have slides that are essentially the same slides that
were shown on July 14, so we're happy to go
over those again if this group would like us to do so.
Otherwise, we would entertain any questions
that you have about this tip.
I am.
Speaking for myself.
This is speaking for myself, I appreciate
the slides at the last meeting.
I don't know that I need to revisit those.
I did want to ask two questions.
The first, if there was any public comment on tip 33 or 34
and.
And interest, I understood that we also had a tip 35 out there.
And if that was also being considered.
Yes to my recollection, I don't believe we had
any public comment on 33 or 34.
As far as 1035, that one has been pulled temporarily
at the developer's request.
So we aren't anticipating any action on that to adhere today.
However, I do have that noted later
on the agenda under informational, just
to provide information as to where we are with that
and what it will look like moving forward.
So it's still in development.
Just the timeline has been changed a bit so
that it is not part of this meeting
today in terms of action items.
OK great.
Thank you.
You're welcome.
All right.
If there's no questions I would take
a motion for item number one.
I make a motion to approve.
I'll second.
All right.
We have a motion by Cale.
Second by Adam.
Any other discussion.
Not all in favor.
Aye moving on to number two.
Consideration with possible action
to review the public record.
Planning documents and resolution
passed by the Redevelopment Authority and common council.
And adopt a resolution approving the creation of tax
incremental district number 34 to 34, Brook Park.
Rebecca thank you.
Diana so this is TID 34 Brook Park.
Again, it has followed the same progression of approvals
and received those approvals from all
of the appropriate bodies.
I'm here for you today for your final review and approval
as well, just to provide a bit of background
or refresh as far as listed.
It's a mixed use district comprising approximately 153.4
acres, generally located in the Eastern portion of the city
bounded by interstate 43 to the West, Humboldt road
to the North, Moore drive to the East,
and Bear Creek Parkway to the South.
This district is proposed to facilitate
the development of approximately 155 residential units by type
were built, and also to provide flexibility
to support future redevelopment projects within that district.
Eligible project costs include development incentives,
land acquisition, site preparation,
environmental assessment and remediation,
utility and infrastructure improvements,
street and street streetscape improvements,
and administrative expenses.
It also includes just of note projects within that one
half mile boundary as well.
I did want to explore with you.
There has been a slight change on this particular TID
in terms of the TID boundary, so this differs
a bit from what this group would have
seen at the original meeting.
Since that first JRB meeting, the TID boundary
has been expanded to include a additional parcels
and that as you see on the map, would
be the southernmost, right.
Yeah right.
There's that made perfect 16 and 17,
as well as just up into the left where the two connect.
This where you were and where the two sections will bridge
that connects the two sections and then up
in the Northeast area as well.
So those last eight parcels that you see on the list
there that accompanies the map.
We have added those because those two
southernmost parcels may become part of the development project.
And so we wanted them included in the TID at this time.
What that does, however, because this is a mixed use TID,
there are certain statutory requirements
that it must fulfill, that being approximately 51%
or at least 50% of the district has to be classified as suitable
for mixed use excuse development,
and no more than 35% can be newly platted residential.
So in order to remain in compliance with the statute,
we did have to add some additional parcels just
to make sure that we could move this forward.
You'll see on the screen here that the district will
now consist of 153.44 acres.
That's up.
I think 25 sorry, I don't have that number
off the top of my head.
But with the addition of those parcels,
we have 77.56 acres, which puts us at 51% suitable for mixed use
development in 53.51 acres within that 35% newly
planted residential threshold.
So with that, this is the boundary of the new TID
that has changed.
However, the development, the anticipated value
of 57.8 million.
The project cost the PAYGO incentive.
The financial projections all remain unchanged,
so that's really good.
The difference between what you would have seen before
and what's presented before you today.
Well with that, I also wanted to provide an update.
As you all remember from our previous conversations,
we don't have a development agreement
necessarily at this point like we normally
would when we created TID.
We are currently working with the developer
and with the assessor to determine
an estimated assessed value for once the project is complete.
So that is still leaving some flexibility.
I guess that is provided within this project plan,
but may change as we work through the development
agreement with the developer.
So that was kind of a lot, but we'll
take any questions if you'd like to see
additional slides for this Ted.
We're certainly happy to show those as well.
Anyway no questions.
Thank you.
Great there's no question.
No additional questions.
I would take a motion for item number two.
Thank you.
Motion I'll second.
All right.
We have a motion by Cale.
Second by Adam.
All in favor.
Aye that passes.
Moving on to the informational section.
235 200 North Monroe.
Creation schedule.
Rebecca OK.
Thank you.
Diana so, as Adam was asking before,
we have seen TID 35 or 200 North Monroe
TID at our previous meeting.
As I mentioned, the developer has requested that we hold off
on creating this tip for a January 2026 space year
and instead to accommodate a January 1, 2027 base year.
And that would be with the intent
to better align the timing of the TID
with what they're looking at for construction and project
development schedules, and to maximize
the available increment.
So with that, we've conferred with Ehlers.
We understand that there will be some modifications based
on changing frames and what that might
look like in terms of the projections and the years.
So what we will plan to do is hold off on getting council
approval, is that essentially becomes the date that's used
to determine the base year.
So we would hold off, bring that to council in October
in order to move ahead to that next base year schedule,
and then bring it back to the joint review board.
Shortly after council approval.
Of course, that date would have to be determined.
Did you have anything that you wanted to add on anything.
Just a little bit.
We're still very excited about this development.
It's 168 new workforce housing units at 200 North Monroe.
We have the development agreement approved.
We had initially hoped to transfer ownership
of the property this year so they could get started
on construction this year.
The developer has identified some site issues.
That is just going to take a little bit more
time dealing with soils and planning
for better foundation systems.
And then also working with us on the relocation
of some power lines that are existing on the site.
So additional time is being requested from the developer
to work through those challenges,
and we hope to start transfer of ownership of the property
early next year.
So they can start construction in spring.
So just with the shift in the timeline,
it makes more sense to pause on the creation of this TID
so that we can establish a base here in 2027.
All right.
Just informational.
If there's no other questions, I'll be looking
for a motion for adjournment.
Adam I'll make the motion to adjourn.
All right.
We have a motion by Adam.
Second by Cale.
All in favor.
Aye passes.
We are adjourned.
Thank you.
Thanks, guys.
Recording stop.