Joint Review Board Meeting

A meeting of the Joint Review Board was held at City Hall on July 8, 2025 at 3:00 P.M. Mayor Jay Eddy, County Board Chair Jeff Amo, School Superintendent Dr. Shelly Severson, and Julie Murray were present. Board member Christina Heit attended remotely via Zoom meetings. The City Administrator and BRF School District Director of Business Services Brandon Jahr were also present. 1. Mayor Jay Eddy called the meeting to order at 3:00 PM. 2. Jay Eddy nominated Julie Murray to serve as the public member. There were no other nominations. 3. It was moved by Shelly Severson, seconded by Jeff Amo to close the nominations and cast a unanimous ballot for Julie Murray to serve as public member. Motion carried. 4. Jeff Amo nominated Jay Eddy to serve as Chairperson. There were no other nominations. 5. It was moved by Shelly Severson, seconded by Jeff Amo to close the nominations and cast a unanimous ballot for Jay Eddy to serve as Chairperson. Motion carried. 6. Mayor Jay Eddy represented the City of Black River Falls, Jeff Amo represented the Jackson County Board, Dr. Shelly Severson represented the Black River Falls School District, Christina Heit represented Western Technical College, and Julie Murray served as Public Member. 7. City Administrator Brad Chown presented the 2024 annual PE-300 reports for all 5 active tax incremental financing districts in the City as well as the PE-110 Final Accounting Report for closed TIF District #4. 8. TID #3 is the Wal-Mart district and had a fund balance of $1,062,698 as of December 31, 2024. This TID is projected to be closed in 2028. This TID shares revenues with TID #6. Expenditure period has expired so the only expense left is to pay down the debt. When this TID is terminated, the remaining balance will be transferred to TID #3 to support future development in the downtown district. 9. TID #4 is the Gross Motors/Culver’s district, and the PE-110 Final Accounting Report was filed with the Department of Revenue in November 2024. The surplus balance of $67,091 was distributed to overlying taxing jurisdictions as follows: Jackson County received $16,797.03, School District of Black River Falls received $21,366.14, Western Technical College received $3,465.92, and the City of Black River Falls received $25,491.97. Disbursement of the remaining balance was based on the 2022 mill rate collected in 2023 and $156,671 was transferred to the City’s Affordable Housing Fund. Page 1 of 2 10. TID #6 is the Downtown District and had a fund balance of $228,403 as of December 31, 2024. The District receives shared revenue from TID #3. The assessed value in the district continues to increase even without any large developments thanks in part to current property owners making improvements to their properties. Increment revenue was $68,613 in 2024. 11. TID #7 is the Industrial Park II district and had a fund balance of $3,051 as of December 31, 2024. This is an industrial district which was created in 2017. A small warehousing building has created the current increment and annual revenue of approximately $6,989. This is the first year the District posted a positive fund balance. 12. TID #8 is the Swiderski district and had a negative fund balance of (-$249,631) as of December 31, 2024. This district was created in 2021. SC Swiderski constructed 6 apartment buildings, an office building, and three self-storage buildings in the district. Construction was completed in 2024. This District had increment revenue of $52,001 in 2024. The Development Agreement has provisions that guarantee annual tax revenue of $270,000 beginning in 2025. Debt was issued to cover the deficit and increment revenue going forward will cover debt payments and leave a small annual surplus for the district. 13. TID #9 is the McFour district and had a negative fund balance of (-$15,283) as of December 31, 2024. This district was created in 2022. There has been no development so there is no increment revenue at this time. 14. It was moved by Shelly Severson, seconded by Jeff Amo to approve JRB Resolution 2025-A acknowledging filing of annual reports and compliance with annual meeting requirements. Motion carried. 15. It was moved by Shelly Severson, seconded by Julie Murray to adjourn. Motion carried at 3:48pm. Alex B. Chown City Administrator Page 2 of 2