Tax Incremental Districts Joint Review Board

AGENDA OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD MONDAY, AUGUST 12, 2024, 3:00 PM 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; Cole Runge, Brown County; Cale Pulczinski, Green Bay Area Public School District; Jill Champeau, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. C. Approval of the Agenda. 1. Approval of the agenda for the August 12, 2024, meeting of the Tax Incremental Districts Joint Review Committee. D. Approval of Minutes. 1. Approval of the minutes from the June 29, 2023, meeting. E. Regular Business. 1. Consideration with possible action on the 2023 Annual Report on Tax Increment Agenda of the Tax Incremental Districts Joint Review Board August 12, 2024 Page 1  Finance Districts in the City of Green Bay. 2. Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Six (TID #26). 3. Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Seven (TID #27). 4. Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Eight (TID #28). F. Informational. 1. Next meeting date: September 3, 2024, at 10:30 AM G. Adjournment. 1) THIS MEETING IS RECORDED: THE VIDEO OF THIS MEETING AND MINUTES ARE AVAILABLE ONLINE AT www.greenbaywi.gov 2) ACCESSIBILITY: Any person wishing to attend who requires special accommodation because of a disability, should contact the City Safety Manager at 920-448-3125 at least 48 hours before the scheduled meeting time so that arrangements can be made. 3) QUORUM: Please take notice that a majority or quorum of the Common Council will attend this Tax Incremental Districts Joint Review Board meeting and will constitute a meeting of the Common Council for purposes of discussion and information gathering relative to this agenda. 4) REPRESENTATION: The party requesting the communication, or their representative, should be present at this meeting. Agenda of the Tax Incremental Districts Joint Review Board August 12, 2024 Page 2  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2024 AGENDA ITEM # D.1 Approval of the minutes from the June 29, 2023, meeting. BACKGROUND RECOMMENDATION FISCAL IMPACT ATTACHMENTS 1. TID JRB Minutes 06.29.23 (3) 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov  MINUTES OF THE TAX INCREMENTAL DISTRICTS JOINT REVIEW BOARD THURSDAY, JUNE 29, 2023, 11:00 AM City Hall, Room 604 - The Harry Maier Room. Virtual attendance is also available via Zoom. A. ZOOM MEETING INFORMATION. 1. This item contains Zoom information, instructions, and a link to the Virtual Comment Form. B. ROLL CALL. 1. Members: Diana Ellenbecker, City of Green Bay; Bradley Klingsporn, Brown County; Joshua Patchak, Green Bay Area Public School District; Dan Mincheff, Northeast Wisconsin Technical College; Brent Weycker, Citizen Member. Present: Diana Ellenbecker, Cole Runge (attended in place of Bradley Klingsporn to represent Brown County), Joshua Patchak, Daniel Mincheff Excused: Brent Weycker C. APPROVAL OF THE AGENDA. 1. Approval of the agenda for the June 29, 2023, meeting of the Tax Incremental Districts Joint Review Committee. Moved by Cole Runge, seconded by Joshua Patchak to approve the agenda. Motion Passed. Yes- Diana Ellenbecker, Cole Runge, Joshua Patchak, Daniel Mincheff, No- None, Abstain- None. D. APPROVAL OF MINUTES. 1. Approval of the minutes from the September 15, 2022, meeting. Moved by Daniel Mincheff, seconded by Joshua Patchak to approve the minutes. Motion Passed. Yes- Diana Ellenbecker, Cole Runge, Joshua Patchak, Daniel Mincheff, No- None, Abstain- None. E. REGULAR BUSINESS. 1. Consideration with possible action on the 2022 Annual Report on Tax Increment Finance Districts in the City of Green Bay. Moved by Joshua Patchak, seconded by Cole Runge to receive and place on file. Motion Passed. Yes- Diana Ellenbecker, Cole Runge, Joshua Patchak, Daniel Mincheff, No- None, Abstain- None. F. INFORMATIONAL. 1. Set next meeting date, time and format. G. ADJOURNMENT. Moved by Joshua Patchak, seconded by Daniel Mincheff to adjourn. Motion Passed. Yes- Diana Ellenbecker, Cole Runge, Joshua Patchak, Daniel Mincheff, 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, 2024 Diana Ellenbecker, Finance Director AGENDA ITEM # E.1 Consideration with possible action on the 2023 Annual Report on Tax Increment Finance Districts in the City of Green Bay. BACKGROUND Staff will provide an overview of each district at the meeting. RECOMMENDATION Receive and place on file FISCAL IMPACT No fiscal impact from the annual report. ATTACHMENTS 1. 2023 TIF Worksheet PE-300 summarized 2. 05231-TID004-Annual Report-2023 3. 05231-TID005-Annual Report-2023 4. 05231-TID010-Annual Report-2023 5. 05231-TID012-Annual Report-2023 6. 05231-TID013-Annual Report-2023 7. 05231-TID014-Annual Report-2023 8. 05231-TID016-Annual Report-2023 9. 05231-TID018-Annual Report-2023 10. 05231-TID019-Annual Report-2023 11. 05231-TID020-Annual Report-2023 12. 05231-TID021-Annual Report-2023 13. 05231-TID022-Annual Report-2023 14. 05231-TID023-Annual Report-2023 15. 05231-TID024-Annual Report-2023 16. 05231-TID025-Annual Report-2023 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov TID ANNUAL REPORT (PE-300) SUMMARIZED YEAR ENDED DECEMBER 31, 2023 Revenues Expenditures TIF Creation Mandatory Fund balance Tax Shared Developers Other/ Capital & Debt Service Developers Fund balance Future Future Surplus or Dist TYPE NAME date term date as of 1/1/23 Increment Interest Revenue guarantees Borrowing Land & Interest grants Other as of 12/31/23 project costs revenue deficit Washington 4 Blight 1/20/1998 1/20/2025 75,098 542,034 26,679 1,071 - - - 200,000 - 9,038 435,844 1,771,300 1,353,972 18,516 Apartments 5 Blight Downtown 12/21/1999 12/21/2026 1,194,672 1,546,404 71,468 159,424 - - 39,342 1,279,450 47,985 67,071 1,538,120 7,837,584 6,303,617 4,153 10 Blight Main/Mason 8/17/2004 8/17/2031 1,373,191 224,759 65,508 8,233 - - 55,462 - 16,732 23,538 1,575,959 3,979,690 2,414,394 10,663 12 Industrial I43 Industrial Park 9/6/2005 9/6/2025 4,502,649 1,432,888 252,718 424,464 - - 19,396 267,456 184,411 46,603 6,094,853 9,329,829 3,333,971 98,995 13 Reh/Cons Downtown 9/6/2005 9/6/2032 (886,812) 2,226,745 8,021 523,895 - 18,387 - 1,415,330 636,069 107,282 (268,445) 22,562,449 22,824,242 (6,652) N Broadway / 14 Blight 9/16/2006 9/16/2033 (2,862,652) 470,325 - 5,774 214,423 - - 838,256 37,312 43,234 (3,090,932) 12,109,979 15,200,911 - Railyard 16 Blight Military Avenue 5/6/2007 5/6/2034 578,406 461,362 29,318 61,183 - - - 542,075 37,763 31,094 519,337 8,322,547 7,869,661 66,451 18 Reh/Cons University Avenue 10/6/2015 10/6/2043 (554,355) 641,454 2,455 11,324 - - - 1,629 173,463 24,895 (99,109) 20,652,394 20,823,203 71,700 19 Reh/Cons East Town Mall 9/19/2017 9/19/2044 66,136 253,403 13,087 - 40,584 - - - 91,488 43,833 237,889 6,887,389 6,702,568 53,068 20 Reh/Cons Whitney Park 9/25/2018 9/25/2045 46,876 150,860 6,312 - - - - - 109,102 8,840 86,106 4,753,319 4,683,128 15,915 Green Bay 21 Blight 9/25/2018 9/25/2045 2,123,048 1,782,223 143,489 - - - 149,130 - 1,169,465 208,384 2,521,781 49,477,053 47,042,891 87,619 Packaging 22 Blight The Shipyard 9/25/2018 9/25/2045 4,528,444 3,627 173,197 - - 4,968,315 4,636,654 261,118 - 77,063 4,698,748 49,098,019 44,399,271 - 23 Blight Legends District 9/17/2019 9/17/2046 20,968 39,044 4,535 - - - 619,074 7,925 - 37,210 (599,662) 15,332,533 16,105,616 173,421 Cherry St 24 Mixed use 8/30/2022 8/30/2042 - - - - - - - - - 48,082 (48,082) 15,060,329 15,111,070 2,659 Development Grandview 25 Industrial 8/30/2022 8/30/2042 - - - - - 417,555 210,446 - - 52,236 154,873 26,387,381 26,362,036 129,528 Industrial Park Totals 10,205,669 9,775,128 796,787 1,195,368 255,007 5,404,257 5,729,504 4,813,239 2,503,790 828,403 13,757,280 253,561,795 240,530,551 726,036  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 004 2 Washington Appartments 01/20/1998 01/20/2025 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $75,098 Section 3 – Revenue Amount Tax increment $542,034 Investment income $26,679 Debt proceeds Special assessments Shared revenue $1,071 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $569,784 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $8,238 Professional services $650 Interest and fiscal charges DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt $200,000 Environmental costs Real property assembly costs Allocation to another TID TID number 022 $0 Developer grants Developer name N/A $0 Transfer to other funds Other expenditures Total Expenditures $209,038 Section 5 – Ending Balance Amount TID fund balance at end of year $435,844 Future costs $1,771,300 Future revenue $1,353,972 Surplus or deficit $18,516 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 004 Submission date 07-01-2024 10:09 AM Confirmation TIDAR20230128O1716922575530 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 005 2 Downtown 12/21/1999 12/21/2026 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $1,194,672 Section 3 – Revenue Amount Tax increment $1,546,404 Investment income $71,468 Debt proceeds Special assessments Shared revenue $159,424 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $1,777,296 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $39,342 Administration $59,485 Professional services $1,210 Interest and fiscal charges $159,898 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt $1,119,552 Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name Bellin buidling parking PAYGO $18,569 Developer name TMJ Initiative One $10,000 Developer name Lorenzen Holdings $7,635 Developer name Historic Hibernia $11,781 Transfer to other funds Other expenditures Name Utilities $6,226 Total Expenditures $1,433,848 Section 5 – Ending Balance Amount TID fund balance at end of year $1,538,120 Future costs $7,837,584 Future revenue $6,303,617 Surplus or deficit $4,153 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 005 Submission date 07-01-2024 10:11 AM Confirmation TIDAR20230128O1716923564713 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 010 2 MAIN MASON 08/17/2004 08/17/2031 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $1,373,191 Section 3 – Revenue Amount Tax increment $224,759 Investment income $65,508 Debt proceeds Special assessments Shared revenue $8,233 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $298,500 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $55,462 Administration $22,738 Professional services $650 Interest and fiscal charges DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name GB Real Estate - 1901 M Street $16,732 Transfer to other funds Other expenditures Total Expenditures $95,732 Section 5 – Ending Balance Amount TID fund balance at end of year $1,575,959 Future costs $3,979,690 Future revenue $2,414,394 Surplus or deficit $10,663 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 010 Submission date 07-01-2024 10:12 AM Confirmation TIDAR20230128O1716924017732 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 012 5 I43 Industrial Park 09/06/2005 09/06/2025 12/31/2024 Section 2 – Beginning Balance Amount TID fund balance at beginning of year $4,502,649 Section 3 – Revenue Amount Tax increment $1,432,888 Investment income $252,718 Debt proceeds Special assessments Shared revenue $424,464 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $2,110,070 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $19,396 Administration $45,168 Professional services $650 Interest and fiscal charges $44,545 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt $222,911 Environmental costs Real property assembly costs Allocation to another TID TID number 022 $0 Developer grants Developer name Natures Way $184,411 Transfer to other funds Other expenditures Name Utilities $635 Total Expenditures $517,866 Section 5 – Ending Balance Amount TID fund balance at end of year $6,094,853 Future costs $9,329,829 Future revenue $3,333,971 Surplus or deficit $98,995 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 012 Submission date 07-01-2024 10:13 AM Confirmation TIDAR20230128O1716924563398 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 013 3 Downtown 09/06/2005 09/06/2032 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $-886,812 Section 3 – Revenue Amount Tax increment $2,226,745 Investment income $8,021 Debt proceeds Special assessments Shared revenue $523,895 Sale of property $16,500 Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Source lot rent $1,887 Total Revenue (deposits) $2,777,048 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $94,107 Professional services $6,575 Interest and fiscal charges $372,498 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt $1,042,832 Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name Schreiber Foods $179,866 Developer name Associated Bank $151,204 Developer name Foxconn $54,999 Developer name BFAM $250,000 Transfer to other funds Other expenditures Name Utilities $6,450 Total Expenditures $2,158,681 Section 5 – Ending Balance Amount TID fund balance at end of year $-268,445 Future costs $22,562,449 Future revenue $22,824,242 Surplus or deficit $-6,652 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 013 Submission date 07-01-2024 10:14 AM Confirmation TIDAR20230128O1716925263615 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 014 2 N Broadway Larsen Green 09/16/2006 09/16/2036 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $-2,862,652 Section 3 – Revenue Amount Tax increment $470,325 Investment income $0 Debt proceeds Special assessments Shared revenue $5,774 Sale of property Allocation from another TID Developer guarantees Developer name SMET $214,423 Transfer from other funds Grants Other revenue Total Revenue (deposits) $690,522 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $42,434 Professional services $650 Interest and fiscal charges $228,256 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt $610,000 Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name DDL Project Grant $37,312 Transfer to other funds Other expenditures Total Expenditures $918,802 Section 5 – Ending Balance Amount TID fund balance at end of year $-3,090,932 Future costs $12,109,979 Future revenue $15,200,911 Surplus or deficit $0 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 014 Submission date 07-01-2024 10:15 AM Confirmation TIDAR20230128O1716925735183 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 016 2 Military Avenue 05/06/2007 05/06/2034 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $578,406 Section 3 – Revenue Amount Tax increment $461,362 Investment income $29,318 Debt proceeds Special assessments Shared revenue $61,183 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $551,863 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $30,294 Professional services $650 Interest and fiscal charges $82,075 DOR fees $150 Discount on long-term debt Debt issuance costs $460,000 Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name Burlington and Broadway Automotive $37,763 Transfer to other funds Other expenditures Total Expenditures $610,932 Section 5 – Ending Balance Amount TID fund balance at end of year $519,337 Future costs $8,322,547 Future revenue $7,869,661 Surplus or deficit $66,451 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 016 Submission date 07-01-2024 10:15 AM Confirmation TIDAR20230128O1716926044797 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 018 3 University Avenue 10/06/2015 10/06/2043 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $-554,355 Section 3 – Revenue Amount Tax increment $641,454 Investment income $2,455 Debt proceeds Special assessments Shared revenue $11,324 Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $655,233 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $24,095 Professional services $650 Interest and fiscal charges $1,629 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name JBS project grant $0 Developer name Festival Foods paygo $173,463 Transfer to other funds Other expenditures Total Expenditures $199,987 Section 5 – Ending Balance Amount TID fund balance at end of year $-99,109 Future costs $20,652,394 Future revenue $20,823,203 Surplus or deficit $71,700 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 018 Submission date 07-01-2024 10:16 AM Confirmation TIDAR20230128O1716926400606 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 019 3 East Town Mall 09/19/2017 09/19/2044 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $66,136 Section 3 – Revenue Amount Tax increment $253,403 Investment income $13,087 Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Developer name Green Bay East LLC $40,584 Transfer from other funds Grants Other revenue Total Revenue (deposits) $307,074 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $43,033 Professional services $650 Interest and fiscal charges DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name Green Bay East LLC $91,488 Transfer to other funds Other expenditures Total Expenditures $135,321 Section 5 – Ending Balance Amount TID fund balance at end of year $237,889 Future costs $6,887,389 Future revenue $6,702,568 Surplus or deficit $53,068 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 019 Submission date 07-01-2024 10:17 AM Confirmation TIDAR20230128O1716926698905 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 020 3 WHITNEY PARK 09/25/2018 09/25/2045 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $46,876 Section 3 – Revenue Amount Tax increment $150,860 Investment income $6,312 Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $157,172 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $8,040 Professional services $650 Interest and fiscal charges DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name Whitney School Development LLC $109,102 Transfer to other funds Other expenditures Total Expenditures $117,942 Section 5 – Ending Balance Amount TID fund balance at end of year $86,106 Future costs $4,753,319 Future revenue $4,683,128 Surplus or deficit $15,915 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 020 Submission date 07-01-2024 10:18 AM Confirmation TIDAR20230128O1716926906667 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 021 2 GREEN BAY PACKAGING 09/25/2018 09/25/2045 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $2,123,048 Section 3 – Revenue Amount Tax increment $1,782,223 Investment income $143,489 Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $1,925,712 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $149,130 Administration $39,326 Professional services $650 Interest and fiscal charges DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs $168,258 Allocation to another TID Developer grants Developer name Green Bay Packaging $1,169,465 Transfer to other funds Other expenditures Total Expenditures $1,526,979 Section 5 – Ending Balance Amount TID fund balance at end of year $2,521,781 Future costs $49,477,053 Future revenue $47,042,891 Surplus or deficit $87,619 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 021 Submission date 07-01-2024 10:19 AM Confirmation TIDAR20230128O1716927206321 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 022 2 SHIPYARD 09/17/2019 09/17/2046 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $4,528,444 Section 3 – Revenue Amount Tax increment $3,627 Investment income $173,197 Debt proceeds $3,000,000 Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Source Brownfield $1,961,115 Other revenue Source Rental of Propeerty $7,200 Total Revenue (deposits) $5,145,139 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $4,636,654 Administration $49,297 Professional services $650 Interest and fiscal charges $156,118 DOR fees $150 Discount on long-term debt Debt issuance costs $105,000 Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name N/A $0 Transfer to other funds Other expenditures Name Utilities $26,966 Total Expenditures $4,974,835 Section 5 – Ending Balance Amount TID fund balance at end of year $4,698,748 Future costs $49,098,019 Future revenue $44,399,271 Surplus or deficit $0 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 022 Submission date 07-01-2024 10:19 AM Confirmation TIDAR20230128O1716927678623 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 023 2 LEGENDS DISTRICT 09/17/2019 09/17/2046 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $20,968 Section 3 – Revenue Amount Tax increment $39,044 Investment income $4,535 Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $43,579 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $619,074 Administration $27,635 Professional services $9,425 Interest and fiscal charges $7,925 DOR fees $150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name n/a $0 Transfer to other funds Other expenditures Total Expenditures $664,209 Section 5 – Ending Balance Amount TID fund balance at end of year $-599,662 Future costs $15,332,533 Future revenue $16,105,616 Surplus or deficit $173,421 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 023 Submission date 07-01-2024 10:20 AM Confirmation TIDAR20230128O1716928142365 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 024 6 Cherry St Development 08/30/2022 08/30/2042 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $0 Section 3 – Revenue Amount Tax increment $0 Investment income Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $0 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures Administration $41,282 Professional services $5,650 Interest and fiscal charges DOR fees $1,150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name N/A $0 Transfer to other funds Other expenditures Total Expenditures $48,082 Section 5 – Ending Balance Amount TID fund balance at end of year $-48,082 Future costs $15,060,329 Future revenue $15,111,070 Surplus or deficit $2,659 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 024 Submission date 07-01-2024 10:21 AM Confirmation TIDAR20230128O1716928533775 Submission type ORIGINAL Page 5 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type 05231 GREEN BAY BROWN 07/01/2024 ORIGINAL TID number TID type TID name Creation date Mandatory termination date Expected termination date 025 5 Grand View Industrial Park 08/30/2022 08/30/2042 N/A Section 2 – Beginning Balance Amount TID fund balance at beginning of year $0 Section 3 – Revenue Amount Tax increment $0 Investment income Debt proceeds Special assessments Shared revenue Sale of property $417,555 Allocation from another TID Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $417,555 Page 1 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 4 – Expenditures Amount Capital expenditures $210,446 Administration $45,436 Professional services $5,650 Interest and fiscal charges DOR fees $1,150 Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID Developer grants Developer name N/A $0 Transfer to other funds Other expenditures Total Expenditures $262,682 Section 5 – Ending Balance Amount TID fund balance at end of year $154,873 Future costs $26,387,381 Future revenue $26,362,036 Surplus or deficit $129,528 Page 2 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 6 – TID New Construction Current Year TID New Construction Values TID New Construction TID New Construction Prior Year TID Net New Construction TID Increase Decrease Correction (NNC) 004 $0 $0 $0 $0 005 $670,500 $-2,900 $0 $667,600 010 $520,000 $0 $0 $520,000 012 $9,512,000 $0 $0 $9,512,000 013 $118,700 $0 $0 $118,700 014 $917,500 $0 $0 $917,500 016 $1,255,000 $-777,300 $0 $477,700 018 $3,827,300 $0 $0 $3,827,300 019 $2,494,900 $0 $0 $2,494,900 020 $14,700 $0 $0 $14,700 021 $0 $-2,732,900 $0 $-2,732,900 022 $58,000 $0 $0 $58,000 023 $4,411,900 $0 $0 $4,411,900 024 $81,500 $0 $0 $81,500 025 $7,772,500 $0 $0 $7,772,500 Total $31,654,500 $-3,513,100 $0 $28,141,400 Current Year Allowable Levy Increase Attributable to TID NNC TID Net New Prior Year Municipal TID Net New Prior Year Adjusted Allowable Levy Increase Attributable TID Construction Equalized Value Construction % Actual Levy to TID Net New Construction 004 $0 $9,135,224,100 0.00 $57,022,039 $0 005 $667,600 $9,135,224,100 0.01 $57,022,039 $5,702 010 $520,000 $9,135,224,100 0.01 $57,022,039 $5,702 012 $9,512,000 $9,135,224,100 0.10 $57,022,039 $57,022 013 $118,700 $9,135,224,100 0.00 $57,022,039 $0 014 $917,500 $9,135,224,100 0.01 $57,022,039 $5,702 016 $477,700 $9,135,224,100 0.01 $57,022,039 $5,702 018 $3,827,300 $9,135,224,100 0.04 $57,022,039 $22,809 019 $2,494,900 $9,135,224,100 0.03 $57,022,039 $17,107 020 $14,700 $9,135,224,100 0.00 $57,022,039 $0 021 $-2,732,900 $9,135,224,100 -0.03 $57,022,039 $-17,107 022 $58,000 $9,135,224,100 0.00 $57,022,039 $0 023 $4,411,900 $9,135,224,100 0.05 $57,022,039 $28,511 024 $81,500 $9,135,224,100 0.00 $57,022,039 $0 Page 3 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue 025 $7,772,500 $9,135,224,100 0.09 $57,022,039 $51,320 Total $28,141,400 $9,135,224,100 0.32 $57,022,039 $182,471 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Page 4 of 5  Form PE-300 TID Annual Report 2023 WI Dept of Revenue Section 7 – Preparer/Contact Information Preparer name Preparer title Stephanie Schmutzer Accountant Preparer email Preparer phone stephanie.schmutzer@greenbaywi.gov (920) 448-3409 Contact name Contact title DIANA ELLENBECKER FINANCE DIRECTOR Contact email Contact phone DIANA.ELLENBECKER@GREENBAYWI.GOV (920) 448-3025 Submission Information Co-muni code 05231 TID number 025 Submission date 07-01-2024 10:22 AM Confirmation TIDAR20230128O1716928874325 Submission type ORIGINAL Page 5 of 5  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2024 Matt Buchanan, Staff AGENDA ITEM # E.2 Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Six (TID #26). BACKGROUND 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 properties generally located in the area south of Mason Street, east of Packerland Drive, north of West Point Road, and west of Interstate 41 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 uses identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. RECOMMENDATION Recommend RDA and the City adopt a Creation Resolution to establish TID Number Twenty-Six (26), adopt the Project Plan. 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 26 Project Plan 07.29.24 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov August 12, 2024 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 26 Southwest Woods 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: Scheduled for August 12, 2024 Public Hearing Held: Scheduled for August 13, 2024 Approval by Redevelopment Authority: Scheduled for August 13, 2024 Adoption by Common Council: Scheduled for August 27, 2024 Approval by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary .....................................................................................................................................2 Preliminary Map of Proposed District Boundary .............................................................................5 Map Showing Existing Uses and Conditions .................................................................................... 8 Preliminary Parcel List and Analysis .................................................................................................... 11 Equalized Value Test ................................................................................................................................. 13 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District ....................................................................................................... 14 Map Showing Proposed Improvements and Uses ........................................................................ 21 Detailed List of Estimated Project Costs ......................................................................................... 23 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 .......................................................................................................................................................... 24 Annexed Property ..................................................................................................................................... 29 Estimate of Property to Be Devoted to Retail Business ........................................................... 29 Proposed Changes for Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances.................................................................................................................................................... 29 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ...........................................................................................................................................................................30 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ...........................................................................................................................................................30 List of Estimated Non-Project Costs .................................................................................................. 31 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ................................................................................................................................................. 32 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions...................................................... 34 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 1 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 26 (“District”) is a proposed In Need of Rehabilitation District comprising approximately 60 acres located on the west side of the City, south of West Mason Street and west of Interstate 41. The District will be created to pay the cost of public infrastructure improvements needed to serve eight single-family attached townhomes and 21 single-family residential lots (“Project”) to be developed in two phases by GB Real Estate Investments, LLC (“Developer”). The Project also includes other future public infrastructure improvements and potential development incentives that may be needed to encourage redevelopment of existing commercial properties located along West Mason Street. In addition to the incremental property value that will be created, the City expects the Project will result in a new residential housing development, park and green space improvements and an improved commercial corridor. 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 $8.66 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $1.8 million for public infrastructure construction, $1.8 million for interest on long term debt and related financing costs to include capitalized interest and $227 thousand in on going administrative costs. Additionally, future costs include $2.4 million for pedestrian improvements, park amenities, site acquisition, and stormwater improvements, and $2.4 million in potential developer incentives. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $18.1 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 assumption as to the development timing and associated values is included in the Economic Feasibility Study located within this Plan. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 2 EXPECTED TERMINATION OF DISTRICT Based on the Economic Feasibility Study located within Section 9 of this Plan, the City anticipates that the District will need to remain open for its entire 27- year maximum life to support all projected Project costs. 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. In reaching this determination, the City has considered the substantial investment needed to provide the public infrastructure necessary to allow for development within the District. Absent the use of tax incremental financing, the City is unable to fully fund this program of infrastructure improvements. Additionally, the City expects that payment of development incentives and potential installation of additional public improvements may be necessary to encourage redevelopment of commercial properties along West Mason Street, and that this redevelopment is unlikely to occur without some element of public participation. 2. The economic benefits of the District, as measured by business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered the following information: that the Developer is likely to purchase goods and services from local suppliers in construction of the Project, and induced effects of employee households spending locally for goods and services from retailers, restaurants and service companies. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. §66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City finds that the benefits expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Project. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 3 4. 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). 5. Based on the foregoing finding, the District is designated as a district in need of rehabilitation. 6. The Project Costs relate directly to the rehabilitation of property and improvements in the District, consistent with the purpose for which the District is created. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. 8. The equalized value of taxable property in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed 12% of the total equalized value of taxable property within the City. 9. The City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 10. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 11. The Plan for the District is feasible and is in conformity with the Master Plan of the City. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 4 SECTION 2: Preliminary Maps of Proposed District Boundary Maps Found Starting on Following Page. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 5 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 6 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 7 SECTION 3: Maps Showing Existing Uses and Conditions Maps Found Starting on Following Page. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 8 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 9 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 10 SECTION 4: Preliminary Parcel List and Analysis The District will include the parcels identified in the tables included below: g Acres Rehab/ Parcel Number Address Acres Rehab/ Conservation Conservation Condition ROW Areas 1.50 6H-1111 0 Laredo Ln 1.05 1.05 Condition 1 6H-1111-A 2475 W Mason St 1.02 1.02 Condition 1 6H-1111-B 2469 W Mason St 0.60 0.60 Condition 1 6H-1110-5 2451 W Mason St 0.57 0.57 Condition 1 6H-1110-1 1116 Hobart Dr 0.74 0.74 Condition 1 6H-1110-19 0 Hobart Dr 0.42 0.42 Condition 1 6H-4332/6H-4333 2437 W Mason St 1 0.48 0.48 Condition 1 6H-1110-8 2425 W Mason St 0.50 0.50 Condition 1 6H-1109-1 2415 W Mason St 0.26 0.26 Condition 1 6H-1109 2405 W Mason St 2.34 2.34 Condition 1 6H-1109-2 W Mason St 2.40 2.40 Condition 2 6H-1109-3 W Mason St 0.90 0.90 Condition 2 6H-1089 Ninth St 18.64 18.64 Condition 2 6H-1091 Ninth St 7.06 7.06 Condition 2 6H-1095 1390 Springdale Nn 17.17 17.17 Condition 2 6H-1133-A 1331 Hobart Dr 5.59 5.59 Condition 2 61.23 59.73 Percentage of TID Area Designated as Rehab/Conservation 98% Percentage of TID Area Not Designated as Rehab/Conservation 2% Total 100% Parcels coded “1” are developed with existing structures and improvements in an area where the City desires to carry out plans for a program of voluntary rehabilitation of buildings and improvements, qualifying these parcels as in need of rehabilitation or conservation. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 11 Parcels coded “2” reflect an underutilized area where the City will construct streets, utilities, and park improvements to carry out an urban renewal project, qualifying these parcels as in need of rehabilitation or conservation. A total of 91% of the District area is in need to rehabilitation or conservation, meeting the minimum of 50% required to create the District. Calculation of Estimated Base Value Assessed Value1 Equalized Value2 Parcel Land Improvement Total Land Improvement Total 6H-1111 29,700 5,700 35,400 33,400 6,400 39,800 6H-1111-A 308,600 315,600 624,200 347,300 355,100 702,400 6H-1111-B 183,600 155,800 339,400 206,600 175,300 381,900 6H-1110-5 172,900 0 172,900 194,600 0 194,600 6H-1110-1 112,200 0 112,200 126,300 0 126,300 6H-1110-19 64,200 0 64,200 72,200 0 72,200 6H-4332/6H-4333 144,800 113,900 258,700 162,900 128,200 291,100 6H-1110-8 152,000 148,900 300,900 171,000 167,600 338,600 6H-1109-1 97,200 377,200 474,400 109,400 424,400 533,800 6H-1109 741,300 311,500 1,052,800 834,200 350,500 1,184,700 6H-1109-2 11,000 0 11,000 12,400 0 12,400 6H-1109-3 7,800 0 7,800 8,800 0 8,800 6H-1089 135,200 0 135,200 152,100 0 152,100 6H-1091 82,900 0 82,900 93,300 0 93,300 6H-1095 0 0 0 0 0 0 6H-1133-A 0 0 0 0 0 0 TOTALS 2,243,400 1,428,600 3,672,000 2,524,500 1,607,500 4,132,000 1) Estimated based on values as of January 1, 2024. 2) Calculation based on 2023 aggregate assessment ratio of 88.87%. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 12 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, 2023) $ 9,863,427,300 TID Valuation Limit @ 12% of Above Value $ 1,183,611,276 Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District $ 4,132,000 Plus: Assumed change for Jan. 1, 2024 assessment $ - Incremental Value of Existing Districts (Jan. 1, 2023) $ 611,888,900 Total Value Subject to 12% Valuation Limit $ 616,020,900 Total Percentage of TID IN Equalized Value 6.25% Residual Value Capacity of TID IN Equalized Value $ 567,590,376 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $616,020,900. This value is less than the maximum of $1,183,611,276 in equalized value that is permitted for the City. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 13 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. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 14 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. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 15 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 of distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 16 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 riverbanks; 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. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 17 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. Community Development Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 18 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. 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 undertake the following projects outside of the District. 1. Approximately $2.4 million that may include bike-pedestrian improvements to streets, park amenities, site acquisition and assembly, remediation and other public infrastructure and stormwater management within the District or located within a ½ mile of the District. 2. Approximately $2.4 million which the City may elected to provide incentives to commercial redevelopment projects where the need for public participation has been verified. Tax Incremental District No. 26 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 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. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 20 SECTION 7: Map Showing Proposed Improvements and Uses The City will make public improvements within the area designated as “ROW Path” on the map. The location of park improvements is identified on the Map. The City will also incur interest and expense on long term debt it issues to finance the public improvements and will pay costs to create and administer the District through its life. Project costs will also include the potential for development incentives, pedestrian improvements, site acquisition, remediation activities and stormwater management. Specific locations are not identified as location will be based on future proposed redevelopment and may include areas outside of, but within ½ mile of the District’s boundaries. Map Found on Following Page. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 21 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 22 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 ID Project Name/Type Phase I Phase II Ongoing Totals Est. Timing 1 Public Improvements 1,875,000 1,875,000 2025 Pedestrian Imp., Park Amenities, Site Acquisition, 2 Remediation, Stormwater 1 2,369,660 2,369,660 2028-2052 3 Developer Incentives 2 2,369,660 2,369,660 2028-2052 4 Interest on Long Term Debt 1,715,450 1,715,450 2025-2044 5 Financing Costs 102,975 102,975 2025 6 Ongoing Planning & Administrative Costs 226,094 226,094 2024-2052 Total Projects 3,693,425 2,369,660 2,595,754 8,658,839 1 Notes: May include bike and pedestrian improvements, park amenities, site acquisition and assembly, remediation, other public infrastructure and stormwater management within the TID or areas located within 1/2 mile of the TID. 2 The City may elect to provide development incentives to commercial redevelopment projects in the TID where the need for public participation has been verified. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 23 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 $18,061,050 in incremental value by 2032. 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 $18.70 per thousand of equalized value, the Project would generate $8,110,203 in incremental tax revenue over the 27-year term of the District as shown in Table 2.  Construction Comm. Rehab Other Comm. Construction Residential 1 Annual Total Year 6H-1109 2 Rehab Year 1 2024 0 2024 1 2 2025 0 2025 2 3 2026 4,211,500 1,000,000 2,000,000 7,211,500 2026 3 4 2027 1,925,000 1,925,000 2027 4 5 2028 1,925,000 2,000,000 3,925,000 2028 5 6 2029 0 2029 6 7 2030 3,000,000 3,000,000 2030 7 8 2031 0 2031 8 9 2032 2,000,000 2,000,000 2032 9 10 2033 0 2033 10 11 2034 0 2034 11 12 2035 0 2035 12 13 2036 0 2036 13 14 2037 0 2037 14 15 2038 0 2038 15 16 2039 0 2039 16 17 2040 0 2040 17 18 2041 0 2041 18 19 2042 0 2042 19 20 2043 0 2043 20 21 2044 0 2044 21 22 2045 0 2045 22 23 2046 0 2046 23 24 2047 0 2047 24 25 2048 0 2048 25 26 2049 0 2049 26 27 2050 0 2050 27 Totals 8,061,500 1,000,000 9,000,000 18,061,500 Notes: 1 Residential development includes eight townhomes and seven single family homes in Phase I, 1 and 14 single family homes in Phase II. Valuation shown is minimum required as of January 1, 2029 1 under the related Development Agreement. 2 Any incremental value increase on Parcel 6H-1109 is part of the Available Increment for purposes of calculating debt service shortfall payments. Table 1 – Development Assumptions Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 25  Type of District Rehabilitation Base Value 4,132,000 District Creation Date August 27, 2024 Economic Change Factor 1.00% Valuation Date Jan 1, 2024 Apply to Base Value Max Life (Years) 27 Base Tax Rate $18.70 Expenditure Period/Termination 22 8/27/2046 Rate Adjustment Factor -0.50% Revenue Periods/Final Year 27 2052 Extension Eligibility/Years Yes 3 Eligible Recipient District Yes Construction Valuation Economic Total Revenue Year Value Added Year Change Increment Year Tax Rate 1 Tax Increment 1 2024 0 2025 0 0 2026 $18.70 0 2 2025 0 2026 0 0 2027 $18.61 0 3 2026 7,211,500 2027 0 7,211,500 2028 $18.52 133,538 4 2027 1,925,000 2028 72,115 9,208,615 2029 $18.42 169,666 5 2028 3,925,000 2029 92,086 13,225,701 2030 $18.33 242,462 6 2029 0 2030 132,257 13,357,958 2031 $18.24 243,662 7 2030 3,000,000 2031 133,580 16,491,538 2032 $18.15 299,317 8 2031 0 2032 164,915 16,656,453 2033 $18.06 300,799 9 2032 2,000,000 2033 166,565 18,823,018 2034 $17.97 338,225 10 2033 0 2034 188,230 19,011,248 2035 $17.88 339,899 11 2034 0 2035 190,112 19,201,360 2036 $17.79 341,582 12 2035 0 2036 192,014 19,393,374 2037 $17.70 343,273 13 2036 0 2037 193,934 19,587,308 2038 $17.61 344,972 14 2037 0 2038 195,873 19,783,181 2039 $17.52 346,679 15 2038 0 2039 197,832 19,981,013 2040 $17.44 348,396 16 2039 0 2040 199,810 20,180,823 2041 $17.35 350,120 17 2040 0 2041 201,808 20,382,631 2042 $17.26 351,853 18 2041 0 2042 203,826 20,586,457 2043 $17.18 353,595 19 2042 0 2043 205,865 20,792,322 2044 $17.09 355,345 20 2043 0 2044 207,923 21,000,245 2045 $17.00 357,104 21 2044 0 2045 210,002 21,210,247 2046 $16.92 358,872 22 2045 0 2046 212,102 21,422,350 2047 $16.84 360,648 23 2046 0 2047 214,223 21,636,573 2048 $16.75 362,433 24 2047 0 2048 216,366 21,852,939 2049 $16.67 364,227 25 2048 0 2049 218,529 22,071,469 2050 $16.58 366,030 26 2049 0 2050 220,715 22,292,183 2051 $16.50 367,842 27 2050 0 2051 222,922 22,515,105 2052 $16.42 369,663 Totals 18,061,500 4,453,605 Future Value of Increment 8,110,203 Notes: 1) Tax rate shown is actual 2023/2024 rate per DOR Form PC-202 (Tax Increment Collection Worksheet). Table 2 – Tax Increment Projection Worksheet Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 26 Financing and Implementation The District’s primary expenditures will be public improvements, including a new street and sidewalks, to serve the residential development project. The City will finance these improvements with the proceeds of long-term debt and will repay debt with tax increments generated by the Project. The City may also incur certain costs for the construction of pedestrian and bike improvements, park amenities, for site preparation, site acquisition and remediation, and other public infrastructure and stormwater management within the District. These costs may be financed with proceeds of debt, advances, or cash funded. The City may also elect to provide development incentives to commercial redevelopment projects in the District and will incur costs for administration of the District. Development incentives, if provided, are expected to be paid from tax increment generated by the associated redevelopment project on a “pay as you go” basis. Based on the Project Costs expenditures as included within the cash flow exhibit (Table 3) the District is projected to accumulate sufficient funds by the year 2052 to pay off all Project cost liabilities and obligations. The projected closure is based on the various assumptions noted in the Plan and will vary depending on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 27  Table 3 – Projected Cash Flow Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 28 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. SECTION 11: Estimate of Property to Be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. SECTION 12: Proposed Changes for 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 housing and commercial development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 29 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 The 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, eliminating blighted areas, providing necessary public infrastructure improvements and providing 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 diversification of local housing stock and improved green space and parks. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 30 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. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 31 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. Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 32 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. 26 Dear Mayor: Wisconsin Statute 66.1105(4)(f) requires that a project plan for a tax incremental financing district include an opinion provided by the City Attorney advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. As City Attorney for the City of Green Bay, I have been asked to review the 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. 26 is complete and complies with the provisions of Wisconsin Statute 66.1105. Sincerely, City Attorney Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 33 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. Green Bay Green Bay Northeast Revenue Mtro Sewer City of Green Area School Wisconsin Revenue Year Brown County District Bay District Tech. College Total Year 2026 0 0 0 0 0 0 2026 2027 0 0 0 0 0 0 2027 2028 20,999 0 49,271 58,979 4,288 133,538 2028 2029 26,681 0 62,602 74,936 5,448 169,666 2029 2030 38,128 0 89,461 107,087 7,786 242,462 2030 2031 38,317 0 89,904 107,617 7,824 243,662 2031 2032 47,069 0 110,439 132,198 9,611 299,317 2032 2033 47,302 0 110,986 132,852 9,659 300,799 2033 2034 53,187 0 124,795 149,382 10,861 338,225 2034 2035 53,450 0 125,413 150,122 10,914 339,899 2035 2036 53,715 0 126,034 150,865 10,968 341,582 2036 2037 53,981 0 126,658 151,612 11,023 343,273 2037 2038 54,248 0 127,285 152,362 11,077 344,972 2038 2039 54,517 0 127,915 153,116 11,132 346,679 2039 2040 54,786 0 128,548 153,874 11,187 348,396 2040 2041 55,058 0 129,184 154,636 11,243 350,120 2041 2042 55,330 0 129,824 155,401 11,298 351,853 2042 2043 55,604 0 130,466 156,171 11,354 353,595 2043 2044 55,879 0 131,112 156,944 11,410 355,345 2044 2045 56,156 0 131,761 157,720 11,467 357,104 2045 2046 56,434 0 132,413 158,501 11,524 358,872 2046 2047 56,713 0 133,069 159,286 11,581 360,648 2047 2048 56,994 0 133,727 160,074 11,638 362,433 2048 2049 57,276 0 134,389 160,867 11,696 364,227 2049 2050 57,560 0 135,054 161,663 11,753 366,030 2050 2051 57,844 0 135,723 162,463 11,812 367,842 2051 2052 58,131 0 136,395 163,267 11,870 369,663 2052 Totals 1,275,357 0 2,992,427 3,581,994 260,424 8,110,203 Tax Incremental District No. 26 Project Plan City of Green Bay Prepared by Ehlers Page | 34  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2024 Matt Buchanan, Staff AGENDA ITEM # E.3 Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Seven (TID #27). BACKGROUND 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 certain properties generally located in the area east of N. Washington Street, north of E. Walnut Street, west of N. Adams Street, and south of Northland Avenue, 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 uses identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. RECOMMENDATION Recommend RDA and the City adopt a Creation Resolution to establish TID Number Twenty-Seven (27), adopt the Project Plan. 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 27 Project Plan 07.26.24 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov August 12, 2024 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 27 T AF Prepared by: Ehlers DR N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO.  KEY DATES Organizational Joint Review Board Meeting Held: August 12, 2024 Public Hearing Held: August 13, 2024 Approval by RDA: August 13, 2024 Adoption by Common Council: August 27, 2024 Approval by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary.................................................................................................................................. 3 Preliminary Map of Proposed District Boundary .......................................................................... 6 Map Showing Existing Uses and Conditions...................................................................................11 Preliminary Parcel List and Analysis .................................................................................................13 Equalized Value Test ..............................................................................................................................15 Statement Listing the Kind, Number and Location of All Proposed Public Works or T Improvements Within the District .................................................................................................... 16 AF Map Showing Proposed Improvements and Uses ......................................................................23 Detailed List of Estimated Project Costs ...................................................................................... 26 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 ....................................................................................................................................................... 27 D Annexed Property ...................................................................................................................................32 Estimate of Property to Be Devoted to Retail Business ..........................................................32 R Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances .................................................................................................................................................32 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ........................................................................................................................................................................33 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ........................................................................................................................................................33 List of Estimated Non-Project Costs .............................................................................................. 34 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ..............................................................................................................................................35 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions .....................................................37 Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 27 (“District”) is a proposed Blighted Area District comprising approximately 2.88 acres located in downtown Green Bay. The District will be created to pay the costs of development incentives and public infrastructure improvements needed to support a variety of projects including the currently proposed developments by Nova GB, LLC, and 222 Cherry Street, LLC (collectively, the “Developers”). Projects within the District include (i) construction of an eight story mixed-use building to include 268 market rate apartment units and first floor commercial located at 221 Cherry Street, (ii) the addition of five stories with sixty-one market rate multi-family apartment units to the existing 10,000 square feet of single story commercial retail/office building, and a connecting skywalk to the Cherry Street Parking T Ramp located at 222 Cherry Street, and (iii) the construction of mixed-use development consisting of commercial and residential uses located at 227 E Walnut Street and 109 N Adams Street (collectively, the “Projects”). In addition AF 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 D the construction and operation of the Projects. AUTHORITY R 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 $32.20 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $8.50 million in up-front developer incentives, $10.67 million in Pay As You Go (“PAYGO”) developer incentives, $3.91 million in streetscape improvements, $8.28 million in interest costs, $235 thousand in financing costs, and $605 thousand in ongoing planning and administrative costs. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $56.32 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 Tax Incremental District No. 27 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 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 City will require the Developers to pay the cost of and install public infrastructure to serve the District. Developers may also incur other costs to T (re)develop property within the District that cannot be fully recovered through sale or rent while also generating market-appropriate investor AF returns. The City has evaluated requests from the Developers for Tax Incremental Financing (“TIF”) assistance and confirmed that the public investment is necessary, and that “but for” that investment, the related development will not occur. The development incentives included in this Plan are for purposes of confirming economic feasibility only and do not reflect a commitment by the City to provide incentives in any specific D amount. Incentive commitments will be set forth in development agreements and subject to approval by the Common Council. The City may R provide such incentives on an up-front or PAYGO basis. 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered that in addition to the incremental property value that will be created, the City expects the Projects to provide 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. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 4  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. 4. 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. 5. Based on the foregoing finding, the District is designated as a blighted area district. 6. The Project Costs relate directly to the elimination of blight in the District, consistent with the purpose for which the District is created. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. T 8. The equalized value of taxable property in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed AF 12% of the total equalized value of taxable property within the City. 9. The City estimates that less than 5% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 10. That there are no parcels to be included within the District that were D annexed by the City within the preceding three-year period. 11. The Plan for the District is feasible and is in conformity with the Master Plan of the City. R Tax Incremental District No. 27 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. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 6  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 7  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 8  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 9  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 10 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 11  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 12 SECTION 4: Preliminary Parcel List and Analysis The District will include the parcels identified in the tables included below: g Acres Parcel Blighted Address Owner Acres Number Blighted Condition ROW Areas 0.22 12-112 221 Cherry St Redevelopment Authority City of Green Bay 1.45 1.45 Condition 2 12-114 216 Cherry St 222 Cherry St LLC 0.36 0.36 Condition 1 12-115 119 N Adams St Vice Enterprises LLC 0.12 12-116 117 N Adams St RBN Properties LLC 0.08 12-117 115 N Adams St Green Genes Real Estate LLC 0.08 12-118 109 N Adams St Redevelopment Authority City of Green Bay 0.08 0.08 Condition 1 12-119 227 E Walnut St Redevelopment Authority City of Green Bay 0.15 0.15 Condition 1 12-120 225 E Walnut St Liza Rae LLC 0.05 0.05 Condition 1 12-121 217 E Walnut St Vic Theatre Green Bay LLC 0.25 0.25 Condition 1 12-122 101 N Adams St T Redevelopment Authority City of Green Bay 0.03 2.88 0.03 2.38 Condition 1 AF Percentage of TID Area Designated as Blighted (at least 50%) Percentage of TID Area Not Designated as Blighted Total Area Blighted Area Conditions: 83% 100% 17% D Condition 1: The identified parcels include structures, buildings or improvements, which by reason of dilapidation, deterioration, age or R obsolescence, are conducive to ill health, juvenile delinquency, or crime, and 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 parcel is an area which is predominantly open, and which consists primarily of land upon which buildings or structures have been demolished. The extraordinary costs associated with the redevelopment of the property due to the deterioration of improvements, 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. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 13 Calculation of Estimated Base Value 1 Assessed Value Equalized Value2 Overlapping Parcel Land Improvement Total Land Improvement Total TID 12-112 0 0 0 0 0 0 TID 4, 5, 24 12-114 202,600 516,900 719,500 228,000 581,600 809,600 TID 4, 5, 24 12-115 67,200 468,300 535,500 75,600 527,000 602,600 TID 4, 5 12-116 45,000 177,300 222,300 50,600 199,500 250,100 TID 4, 5 12-117 45,000 311,100 356,100 50,600 350,100 400,700 TID 4, 5 12-118 0 0 0 0 0 0 TID 4, 5, 24 12-119 0 0 0 0 0 0 TID 4, 5, 24 12-120 29,400 202,700 232,100 33,100 228,100 261,200 TID 4, 5, 24 12-121 138,600 207,500 346,100 156,000 233,500 389,500 TID 4, 5, 24 12-122 0 0 0 0 0 0 TID 4, 5, 24 TOTALS 527,800 1,883,800 2,411,600 593,900 2,119,800 2,713,700 1) Valuations listed reflect January 1, 2024 assessed values. T 2) Represents assessed values converted to equalized value using the January 1, 2023 aggregate ratio published by the Wisconsin Department of Revenue for the City (88.87%). Actual District base value will be certified AF using the January 1, 2024 aggregate ratio which is not yet available. DR Tax Incremental District No. 27 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 located within Tax Incremental District No. 27 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, 2023) $ 9,863,427,300 TID Valuation Limit @ 12% of Above Value $ 1,183,611,276 Calculation of Value Subject to Limit T Estimated Base Value of Territory to be Included in District $ 2,713,700 AF Incremental Value of Existing Districts (Jan. 1, 2023) Less: Value of Underlying TID Parcels Total Value Subject to 12% Valuation Limit Total Percentage of TID IN Equalized Value $ $ $ 611,888,900 (2,713,700) 611,888,900 6.20% D Residual Value Capacity of TID IN Equalized Value R $ 571,722,376 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, and less the overlapped TID parcels, totals $611,888,900. This value is less than the maximum of $1,183,611,276 in equalized value that is permitted for the City. Tax Incremental District No. 27 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. 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. 27 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, T driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements AF The City may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are D eligible Project Costs. Relocation Costs R If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include, but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 17 Demolition To make sites suitable for development, the City may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements T To allow development to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or AF expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and D necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City R construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Water System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 18 implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements Development within the District will cause stormwater runoff. To manage this stormwater runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices T (BMP’s). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs AF corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are D necessitated by the implementation of the Project Plan are eligible Project Costs. Electric Service R To create sites suitable for development, the City may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the City to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 19 Communications Infrastructure To create sites suitable for development, the City may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the City to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the City may need to construct or reconstruct streets, highways, alleys, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, T to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping AF To attract development consistent with the objectives of this Plan, the City may install amenities to enhance development sites, rights-of-way and other public spaces. These amenities include, but are not limited to: landscaping; lighting of streets, sidewalks, parking areas and public areas; installation of planters, D benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any R other similar amenities installed by the City are eligible Project Costs. Community Development Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 20 Contribution to Redevelopment Authority (RDA) As provided for in Wis. Stat. § 66.1105(2)(f)1.h and Wis. Stat. § 66.1333(13), the City may provide funds to its RDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the RDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program (Development Incentives) To encourage private development consistent with the objectives of this Plan, the City, through its RDA, may provide loans or grants to eligible property owners in the District. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies, or as otherwise specified by the RDA in the program manual. Any funds returned to the RDA T from the repayment of loans made are not considered revenues to the District, and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving fund and will continue to be used for the program AF purposes stated above. Any funds provided to the RDA for purposes of implementing this program are considered eligible Project Costs. Miscellaneous Projects Outside the Tax Increment District D Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the City may undertake projects within territory located within one-half mile of the boundary of the District provided R that: 1) the project area is located within the City’s corporate boundaries; and 2) the projects are approved by the Joint Review Board. The cost of projects completed outside the District pursuant to this section are eligible project costs, and may include any project cost that would otherwise be eligible if undertaken within the District. The City intends to make the following project cost expenditures outside the District:  $1,261,694 for streetscape improvements to Washington Street  $514,165 for streetscape improvements to Cherry Street  $723,250 for streetscape improvements to Walnut Street  $1,200,000 for future streetscape improvements 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. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 21 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. T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 22 SECTION 7: Map Showing Proposed Improvements and Uses Map Found on Following Page. T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 23  T AF DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 24  Project 2: Streetscape Improvements T AF DR The City has identified funds for development incentives for qualified development projects that are not geographically associated with a specified parcel at this time and may be undertaken within the District and/or half mile and will incur administrative and other professional service expenses in the implementation of this Project Plan. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 25 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 Phase II Ongoing Totals 1/2 Mile Est. Timing 1 1a. 1b. Developer Incentives Nova GB, LLC1 222 Cherry Street, LLC 14,172,367 4,500,000 T 14,172,367 4,500,000 2026‐2052 2029‐2051 2 3 4 5 1c. 2a. 2b. 2c. 2d. Future Projects Streetscape Improvements Washington St Cherry St2 Walnut St Future Projects Interest on Long Term Debt Financing Costs Ongoing Planning & Administrative Costs AF 500,000 1,261,694 723,250 723,250 1,200,000 8,284,150 235,050 605,000 500,000 1,261,694 723,250 723,250 1,200,000 8,284,150 235,050 605,000 1,261,694 514,165 723,250 1,200,000 TBD TBD TBD TBD TBD 2027‐2046 2026 2024‐2052 Total Projects Notes: DR 19,172,367 3,908,194 1) Includes up‐front incentive of $8.50M plus an estimated PAYGO incentive of $5,672,367. 9,124,200 2) 159 feet of frontage is included within the District boundaries. Assumes a cost of $1,315 per linear foot. 32,204,761 3,699,109 Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 26 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 $56.32 million in incremental value by January 1, 2029. Estimated valuations and timing for T construction of the Projects are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $18.70 per thousand of equalized value, and 1.00% economic appreciation, the Projects would generate $28.33 million in AF incremental tax revenue over the 27-year term of the District as shown in Table 2. DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 27  Table 1 – Development Assumptions 221 Cherry Street1 222 Cherry Street2 227 E Walnut 109 N Adams Construction Apartments/Parking Construction Apartments Residential Commercial Residential Commercial Annual Total Year Garage/Commercial Year Total Value Total Value Sq. Ft. Total Value Sq. Ft. Total Value Sq. Ft. Total Value Sq. Ft. Total Value Estimated Value per $135 $100 $135 $100 1 2024 0 2024 1 2 2025 0 2025 2 3 2026 0 2026 3 4 2027 42,759,800 9,880,300 52,640,100 2027 4 5 6 7 8 2028 2029 2030 2031 13,800 1,863,000 10,100 T 1,010,000 3,700 499,500 3,100 310,000 3,682,500 0 0 0 2028 2029 2030 2031 5 6 7 8 9 10 11 12 13 14 15 16 17 2032 2033 2034 2035 2036 2037 2038 2039 2040 AF 0 0 0 0 0 0 0 0 0 2032 2033 2034 2035 2036 2037 2038 2039 2040 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2041 2042 2043 2044 2045 R 0 0 0 0 0 2041 2042 2043 2044 2045 18 19 20 21 22 23 24 25 26 27 2046 2047 2048 2049 2050 Totals 42,759,800 D9,880,300 13,800 1,863,000 10,100 1,010,000 3,700 499,500 3,100 310,000 0 0 0 0 0 56,322,600 2046 2047 2048 2049 2050 23 24 25 26 27 Notes: 1) Per the approved development agreement, the project is estimated to have an assessed value of $38.0M which is converted to equalized using the 2023 aggregate ratio of 88.87%. 2) Per the City Assessor, the project is estimated to have an assessed value of $9.50M which is converted to equalized using the 2023 aggregate ratio of 88.87%. Accounts for the existing assessed value of $719,500. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 28  Table 2 – Tax Increment Projection Worksheet Type of District Blighted Area Base Value 2,713,700 District Creation Date August 27, 2024 Economic Change Factor 1.00% Valuation Date Jan 1, 2024 Apply to Base Value Max Life (Years) 27 Base Tax Rate $18.70 Expenditure Period/Termination 22 8/27/2046 Rate Adjustment Factor 0.00% Revenue Periods/Final Year 27 2052 Extension Eligibility/Years Yes 3 Eligible Recipient District Yes Construction Value Valuation Economic Total Revenue Year Added Year Change Increment Year Tax Rate1 Tax Increment 1 2024 0 2025 0 0 2026 $18.70 0 2 2025 0 2026 0 0 2027 $18.70 0 3 2026 0 2027 0 0 2028 $18.70 0 4 2027 52,640,100 2028 0 52,640,100 2029 $18.70 984,575 5 2028 3,682,500 2029 526,401 56,849,001 2030 $18.70 1,063,298 6 2029 0 2030 568,490 57,417,491 2031 $18.70 1,073,930 7 8 9 10 2030 2031 2032 2033 0 0 0 0 2031 2032 2033 2034 574,175 579,917 585,716 591,573 T 57,991,666 58,571,583 59,157,298 59,748,871 2032 2033 2034 2035 $18.70 $18.70 $18.70 $18.70 1,084,670 1,095,516 1,106,472 1,117,536 11 12 13 14 15 16 17 18 2034 2035 2036 2037 2038 2039 2040 2041 0 0 0 0 0 0 0 0 AF 2035 2036 2037 2038 2039 2040 2041 2042 597,489 603,464 609,498 615,593 621,749 627,967 634,246 640,589 60,346,360 60,949,824 61,559,322 62,174,915 62,796,664 63,424,631 64,058,877 64,699,466 2036 2037 2038 2039 2040 2041 2042 2043 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 1,128,712 1,139,999 1,151,399 1,162,913 1,174,542 1,186,287 1,198,150 1,210,132 19 20 21 22 23 24 25 26 2042 2043 2044 2045 2046 2047 2048 2049 DR 0 0 0 0 0 0 0 0 2043 2044 2045 2046 2047 2048 2049 2050 646,995 653,465 659,999 666,599 673,265 679,998 686,798 693,666 65,346,461 65,999,925 66,659,925 67,326,524 67,999,789 68,679,787 69,366,585 70,060,251 2044 2045 2046 2047 2048 2049 2050 2051 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 $18.70 1,222,233 1,234,455 1,246,800 1,259,268 1,271,861 1,284,579 1,297,425 1,310,399 27 2050 0 2051 700,603 70,760,853 2052 $18.70 1,323,503 Totals 56,322,600 14,438,253 Future Value of Increment 28,328,655 Notes: 1) Tax rate shown is actual 2023/2024 rate per DOR Form PC‐202 (Tax Increment Collection Worksheet). Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 29 Financing and Implementation The District’s primary expenditures will be development incentives. Incentives will be provided on an up-front basis through the issuance of debt as well as 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 construct streetscape improvements and to create and administer the District. Costs incurred by the City prior to availability of tax increments will be paid from other funds of the City to be reimbursed or through the issuance of debt. Once tax increments are collected, these costs will be paid from annual District revenue. T 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 2052 to pay off all Project Cost liabilities and obligations. The projected closure AF 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. DR Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 30  Table 3 – Cash Flow Projected Revenues Projected Expenditures Balances 2025 Taxable 2025 G.O. 2026 Taxable Incentive #1 Incentive #2 Incentive #3 Annual G.O. Note2 Promissory Note G.O. Note2 2026 2027 2027 Tax Developer Total $5,120,000 $760,000 $5,300,000 Nova GB, LLC3 222 Cherry Street, LLC4 Future5 Streetscape Financing Ongoing Planning Total Liabilities Year Increments Debt Proceeds Shortfall1 Revenues Issue Total Issue Total Issue Total $14,172,367 $4,500,000 $500,000 Improvements6 Costs & Administration Expenditures Annual Cumulative Outstanding Year 2024 0 45,000 45,000 (45,000) (45,000) 0 2024 2025 0 20,000 20,000 (20,000) (65,000) 8,895,313 2025 2026 0 5,880,000 5,880,000 422,400 48,450 4,000,000 723,250 166,350 20,000 5,380,450 499,550 434,550 21,336,242 2026 2027 0 5,300,000 5,300,000 281,600 32,300 437,250 4,500,000 68,700 20,000 5,339,850 (39,850) 394,700 21,085,092 2027 2028 0 0 281,600 32,300 291,500 0 20,000 625,400 (625,400) (230,700) 20,479,692 2028 2029 984,575 108,838 1,093,413 461,513 32,300 447,100 0 147,840 20,000 1,108,753 (15,340) (246,040) 19,550,939 2029 2030 1,063,298 106,178 1,169,475 465,925 32,300 448,025 0 149,318 55,102 20,000 1,170,670 (1,195) (247,235) 18,570,269 2030 2031 1,073,930 97,200 1,171,130 464,650 32,300 448,400 0 150,812 55,653 20,000 1,171,814 (684) (247,919) 17,598,455 2031 2032 1,084,670 87,041 1,171,711 462,825 32,300 448,225 0 152,320 56,209 20,000 1,171,879 (168) (248,087) 16,636,576 2032 2033 1,095,516 80,564 1,176,080 465,313 32,300 447,500 0 153,843 56,771 20,000 1,175,727 354 (247,733) 15,680,849 2033 2034 2035 2036 2037 2038 1,106,472 1,117,536 1,128,712 1,139,999 1,151,399 72,629 63,236 52,383 44,934 35,748 1,179,100 1,180,772 1,181,095 1,184,933 1,187,147 462,113 463,225 463,513 462,975 461,613 32,300 32,300 32,300 32,300 51,875 451,088 448,988 446,338 448,000 448,838 0 0 0 0 0 T 155,381 156,935 158,505 160,090 161,690 57,339 57,912 58,492 59,076 43,446 20,000 20,000 20,000 20,000 20,000 1,178,220 1,179,360 1,179,146 1,182,441 1,187,461 880 1,412 1,949 2,492 (314) (246,853) (245,441) (243,492) (241,001) (241,315) 14,737,628 13,803,268 13,099,935 12,590,769 12,060,633 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 1,162,913 1,174,542 1,186,287 1,198,150 1,210,132 1,222,233 1,234,455 1,246,800 1,259,268 1,271,861 1,284,579 29,689 21,617 6,669 4,569 0 1,192,602 1,196,159 1,192,956 1,202,720 1,210,132 1,222,233 1,234,455 1,246,800 1,259,268 1,271,861 1,284,579 464,288 465,863 461,475 465,988 464,263 461,438 462,375 95,069 97,200 94,225 96,144 97,850 99,344 301,269 448,850 448,038 446,400 448,800 450,100 450,300 449,400 909,338 AF 0 0 0 0 4,710 15,937 24,722 35,947 908,816 917,904 927,083 163,307 164,940 166,590 168,256 169,938 171,638 173,354 175,088 176,838 178,607 180,393 0 150,367 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 1,191,514 1,196,040 1,188,690 1,199,187 1,206,861 1,218,656 1,431,120 1,140,372 1,105,654 1,116,511 1,277,844 1,088 118 4,266 3,533 3,271 3,577 (196,665) 106,428 153,613 155,350 6,736 (240,227) (240,109) (235,842) (232,309) (229,038) (225,462) (422,126) (315,699) (162,085) (6,736) 0 11,507,325 10,927,385 10,330,795 9,702,539 9,042,891 8,345,316 7,402,239 7,191,205 6,105,550 5,009,039 3,901,563 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 Totals 1,297,425 1,310,399 1,323,503 28,328,655 11,180,000 811,294 1,297,425 1,310,399 1,323,503 40,319,949 8,864,950 1,336,725 R 9,262,475 936,354 945,718 955,175 14,172,367 182,197 184,019 185,859 3,987,758 500,000 158,874 160,663 162,470 1,355,624 235,050 20,000 20,000 20,000 605,000 1,297,425 1,310,399 1,323,503 40,319,949 0 0 0 0 0 0 2,783,012 1,653,276 512,242 2050 2051 2052 Totals Notes: D 1) Nova GB, LLC will be required to make a shortfall payment in any year that the 221 Cherry Street tax increment is not sufficient to pay the City's debt service as detailed in development agreement 24‐04. 2) Assumes interest is capitalized through and including October 1, 2028. 3) Includes $8.50M up‐front development incentive. PAYGO incentive will be paid at 95% of the Available Tax Increment as defined in the development agreement 24‐04. 4) Assumes a PAYGO incentive will be paid at 80% of the project tax increment up to a maximum of $4.50M. 5) Assumes a PAYGO incentive will be paid at 80% of the project tax increment up to a maximum of $0.50M. 6) Assumes the Cherry Street improvements are funded in 2025. Other streetscape projects may be funded to the extent District revenues are available. LEGEND: PROJECTED CLOSURE YEAR CALLABLE MATURITIES END OF EXP. PERIOD Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 31 SECTION 10: Annexed Property A tax incremental district cannot include annexed territory unless at least three years have elapsed since the annexation, or certain other requirements are met. None of the property within the proposed District boundary was annexed during the past three years. SECTION 11: Estimate of Property to Be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 5% of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. T SECTION 12: AF Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances D The proposed Plan is in general conformance with the City’s current zoning ordinances. Individual properties may require rezoning at the time of development. R Master (Comprehensive) Plan and Map The proposed Plan is in general conformance with the City’s Comprehensive Plan identifying the area as appropriate for mixed-use development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 32 SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should implementation of this Plan require relocation of individuals or business operations, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. SECTION 14: How Creation of the Tax Incremental District Promotes the Orderly Development of the City Creation of the District and the implementation of the projects in its Plan will T promote the orderly development of the City by creating opportunities for mixed use development and eliminating blighted areas. Such goals will be achieved by providing necessary public infrastructure improvements and AF appropriate financial incentives for private development projects. Through the 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 D construction-related job creation, additional employment opportunities for commercial jobs post-construction, increased property values, increased R 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. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 33 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. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 34 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. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 35 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. 27 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. 27 is complete and complies with the provisions of Wisconsin Statute 66.1105. Sincerely, DR City Attorney Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 36 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 2023/2024 levy year. Northeast Revenue City of Green Green Bay Area Wisconsin Tech. Revenue Year Brown County Bay School District College Total Year 2026 0 0 0 0 0 2026 2027 2028 2029 2030 0 0 156,228 168,720 0 0 407,009 439,552 T 0 0 389,093 420,204 0 0 32,244 34,822 0 0 984,575 1,063,298 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 170,407 172,111 173,832 175,570 177,326 179,099 AF 443,947 448,387 452,870 457,399 461,973 466,593 424,406 428,650 432,937 437,266 441,639 446,055 35,171 35,522 35,878 36,236 36,599 36,965 1,073,930 1,084,670 1,095,516 1,106,472 1,117,536 1,128,712 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 DR 180,890 182,699 184,526 186,371 188,235 190,117 192,019 471,259 475,971 480,731 485,538 490,394 495,298 500,251 450,515 455,021 459,571 464,167 468,808 473,496 478,231 37,334 37,708 38,085 38,466 38,850 39,239 39,631 1,139,999 1,151,399 1,162,913 1,174,542 1,186,287 1,198,150 1,210,132 2037 2038 2039 2040 2041 2042 2043 2044 193,939 505,253 483,014 40,027 1,222,233 2044 2045 195,878 510,306 487,844 40,428 1,234,455 2045 2046 197,837 515,409 492,722 40,832 1,246,800 2046 2047 199,815 520,563 497,649 41,240 1,259,268 2047 2048 201,814 525,769 502,626 41,653 1,271,861 2048 2049 203,832 531,026 507,652 42,069 1,284,579 2049 2050 205,870 536,336 512,729 42,490 1,297,425 2050 2051 207,929 541,700 517,856 42,915 1,310,399 2051 2052 210,008 547,117 523,034 43,344 1,323,503 2052 Totals 4,495,072 11,710,650 11,195,184 927,749 28,328,655 Tax Incremental District No. 27 Project Plan City of Green Bay Prepared by Ehlers Page | 37  Report to the Tax Incremental Districts Joint Review Board of the City of Green Bay MEETING DATE PREPARED BY August 12, 2024 Matt Buchanan, Staff AGENDA ITEM # E.4 Consideration with possible action to review and discuss draft Project Plan for Tax Incremental District Number Twenty-Eight (TID #28). BACKGROUND 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 certain properties generally located in the area south of Manitowoc Road, east of Lime Kiln Road, north of the Fox Valley & Lake Superior Railroad, and west of Main Street, 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 uses identified in the Comprehensive Plan would not occur in the manner desired by the City and RDA. RECOMMENDATION Recommend RDA and the City adopt a Creation Resolution to establish TID Number Twenty-Eight (28), adopt the Project Plan. 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 28 Project Plan 07.29.24 100 North Jefferson Street, Green Bay, Wisconsin 54301-5026 greenbaywi.gov August 12, 2024 PROJECT PLAN City of Green Bay, Wisconsin Tax Incremental District No. 28 JBS Redevelopment 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: Scheduled for August 13, 2024 Public Hearing Held: Scheduled for August 13, 2024 Approval by RDA: Scheduled for August 13, 2024 Adoption by Common Council: Scheduled for August 27, 2024 Approval by the Joint Review Board: Scheduled for TBD TABLE OF CONTENTS Executive Summary .....................................................................................................................................3 Preliminary Maps of Proposed District Boundary.......................................................................... 6 Maps Showing Existing Uses and Conditions .................................................................................10 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 Ordinance, 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. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 2 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 28 (“District”) is a proposed In Need of Rehabilitation or Conservation District comprising approximately 65 acres located the southeastern portion of the City. It is bounded by Lime Kiln Road to the west, Main Street to the east, City residential property to the north and the Village of Bellevue to the south. The District will be created to pay the costs of public infrastructure and park improvements that will serve and enable residential development on land in the District (“Project”) to be developed via a partnership between Gorman & Company and Revel49 (“Developer”). The City expects that approximately 225 residential units will be developed in the District. In addition to the incremental property value that will be created, the City expects the Project will result in construction jobs created during the development phase and an increase in spending in the community by residents of the new development. 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 $18.9 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $5.5 million for public improvements including new roadways, water system, sanitary sewer and stormwater improvements and new park construction, $3.4 million in interest on long term debt and related financing costs, $9.8 million in potential “pay as you go” development incentives, and $214 thousand for ongoing planning and administrative costs. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $39.3 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 assumption as to the development timing and associated values is included in within this Plan. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 3 EXPECTED TERMINATION OF DISTRICT Based on the assumptions located within Section 9 of this Plan, the City anticipates that the District will need to remain open for its entire 27-year maximum life to support all projected Project Costs. 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. In reaching this determination, the City has considered the substantial investment needed to provide the public infrastructure necessary to allow for development within the District. Absent the use of tax incremental financing, the City is unable to fully fund this program of infrastructure improvements. Additionally, based on the response to the request for proposals document issued by the City, it is expected that development incentives will need to be paid to provide the housing development the City wants to encourage within the District. 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered the following information: That the Developer is likely to purchase goods and services from local suppliers in construction of the Project, and induced effects of employee households spending locally for goods and services from retailers, restaurants and service companies. Additionally, the proposed housing will transform the area with declining property conditions into a dynamic neighborhood featuring single family and multi-family housing units, with interconnected roadways, pedestrian facilities, playground, and will activate a renewal of the deteriorated neighborhood. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City finds that the benefits Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 4  expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Project. 4. 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). 5. Based on the foregoing finding, the District is designated as a district in need of rehabilitation or conservation. 6. 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. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. 8. The equalized value of taxable property in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed 12% of the total equalized value of taxable property within the City. 9. The City estimates that none of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 10. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 11. The Plan for the District is feasible and is in conformity with the Master Plan of the City. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 5 SECTION 2: Preliminary Maps of Proposed District Boundary Maps Found Starting on Following Page. To the extent District boundaries include wetlands identified on a map prepared under Wis. Stat. § 23.32, the wetlands are excluded from the District. Within this Section is a map identifying the location of wetlands within the District boundary. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 6 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 7 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 8 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 9 SECTION 3: Maps Showing Existing Uses and Conditions Maps Found Starting on Following Page. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 10 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 11 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 12 SECTION 4: Preliminary Parcel List and Analysis The District will include the parcels identified in the tables included below: g Acres Rehab/ Parcel Address Acres Rehab/ Conservation Number Conservation Condition ROW Areas 0.63 23-243-1 0 Lime Kiln Rd 19.36 22.98 Condition 3 23-244-3 1315 Lime Kiln Rd 13.62 21-462-1 0 Guns Rd 14.01 14.35 Condition 3 21-3379 2209 Imperial Ln 1.00 21-3380-1 2131 Imperial Ln 0.80 21-462 1149 Lime Kiln Rd 8.44 10.89 Condition 3 21-462-2 0 Lime Kiln Rd 0.84 21-3380 2123 Imperial Ln 0.43 0.43 Condition 3 21-3381 2111 Imperial Ln 0.43 0.43 Condition 3 21-463-4 0 Gunds Rd 4.21 21-3369 0 Imperial Ln 1.48 21-3361-2 2210 Imperial Ln 0.28 0.28 Condition 3 Totals 65.53 49.36 Percentage of TID Area Designated as Rehab/Conservation 75% Percentage of TID Area Not Designated as Rehab/Conservation 25% Total 100% Wetlands 8.93 Parcels coded “3” reflect properties where the installation and construction of infrastructure and improvements are necessary for carrying out the objectives of an urban renewal project, qualifying these parcels as in need of rehabilitation or conservation. A total of 76% of the District area is in need to rehabilitation or conservation, meeting the minimum of 50% required to create the District. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 13 Calculation of Estimated Base Value Assessed Value 1 Equalized Value 2 Parcel Land Improvement Total Land Improvement Total 23-243-1 0 0 0 0 0 0 23-244-3 0 0 0 0 0 0 21-462-1 0 0 0 0 0 0 21-3379 0 0 0 0 0 0 21-3380-1 0 0 0 0 0 0 21-462 0 0 0 0 0 0 21-462-2 172,200 0 172,200 193,800 0 193,800 21-3380 0 0 0 0 0 0 21-3381 0 0 0 0 0 0 21-463-4 900 0 900 1,000 0 1,000 21-3369 114,400 0 114,400 128,700 0 128,700 21-3361-2 33,100 197,500 230,600 37,200 222,200 259,400 TOTALS 320,600 197,500 518,100 360,700 222,200 582,900 1) Estimated based on values as of January 1, 2024. 2) Calculation based on aggregate assessment ratio of 88.87%. Tax Incremental District No. 28 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. Calculation of City Equalized Value Limit City TID IN Equalized Value (Jan. 1, 2023) $ 9,863,427,300 TID Valuation Limit @ 12% of Above Value $ 1,183,611,276 Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District $ 582,900 Plus: Assumed change for Jan. 1, 2024 assessment $ - Incremental Value of Existing Districts (Jan. 1, 2023) $ 611,888,900 Less: Value of Parcels Removed from District $ - Less: Value of Underlying TID Parcels $ - Total Value Subject to 12% Valuation Limit $ 612,471,800 Total Percentage of TID IN Equalized Value 6.21% Residual Value Capacity of TID IN Equalized Value $ 571,139,476 The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $612,471,800. This value is less than the maximum of $1,183,611,276 in equalized value that is permitted for the City. Tax Incremental District No. 28 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. 28 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. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 17 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 of distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 18 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 riverbanks; 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. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 19 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. Community Development Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 20 Contribution to or 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. 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 undertake the following projects outside of the District. 1. Bike-pedestrian improvements to streets, park amenities, site acquisition and assembly, remediation and other public infrastructure and stormwater management within the District or located within a ½ mile of the District. 2. The City may elect to provide incentives to development or redevelopment projects where the need for public participation has been verified. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 21 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. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 22 SECTION 7: Map Showing Proposed Improvements and Uses The City will make public improvements within the area designated as “ROW Path” on the map. The location of park improvements is identified on the Map. The City will also incur interest and expense on long term debt it issues to finance the public improvements and will pay costs to create and administer the District through its life. Project costs will also include the potential for development incentives, pedestrian improvements, site acquisition, remediation activities and stormwater management. Specific locations are not identified as location will be based on future proposed development or redevelopment and may also include areas outside of, but within ½ mile of the District’s boundaries. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 23 Tax Incremental District No. 28 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 ID Project Name/Type Phase 1 Ongoing Totals Est. Timing 1 Public Infrastructure & Park Improvements 5,500,000 5,500,000 2025 2 Interest on Long Term Debt 3,263,500 3,263,500 2025-2044 3 Developers Incentives1 9,800,347 9,800,347 2028-2052 4 Financing Costs 150,450 150,450 2025 5 Ongoing Planning & Administrative Costs 214,655 214,655 2025-2052 Total Projects 5,500,000 13,428,952 18,928,952 1 Notes: Projection of amounts potentially available for development incentives included for purposes of determining economic feasibility only. Any incentives provided will require that developer demonstrate the need for public participation to the satisfaction of the City, with terms and conditions of any assistance to be provided to be defined in a development agreement. Tax Incremental District No. 28 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 $39,375,000 in incremental value by 2027. 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 $18.70 per thousand of equalized value, and no economic appreciation or depreciation, the Project would generate $19,028,952 in incremental tax revenue over the 27-year term of the District as shown in Table 2. Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 26  Construction Construction JBS Project1 Annual Total Year Year 1 2024 0 2024 1 2 2025 0 2025 2 3 2026 29,531,250 29,531,250 2026 3 4 2027 9,843,750 9,843,750 2027 4 5 2028 0 2028 5 6 2029 0 2029 6 7 2030 0 2030 7 8 2031 0 2031 8 9 2032 0 2032 9 10 2033 0 2033 10 11 2034 0 2034 11 12 2035 0 2035 12 13 2036 0 2036 13 14 2037 0 2037 14 15 2038 0 2038 15 16 2039 0 2039 16 17 2040 0 2040 17 18 2041 0 2041 18 19 2042 0 2042 19 20 2043 0 2043 20 21 2044 0 2044 21 22 2045 0 2045 22 23 2046 0 2046 23 24 2047 0 2047 24 25 2048 0 2048 25 26 2049 0 2049 26 27 2050 0 2050 27 Totals 39,375,000 39,375,000 Notes: 1 Assumes 225 housing units constructed at average value of $175,000 per unit. Table 1 – Development Assumption Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 27  Table 2 – Tax Increment Projection Worksheet Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 28 Financing and Implementation The District’s primary expenditures will be public improvements including streets, sidewalk, bike and public park improvements to serve the residential development project. The City will finance these improvements with the proceeds of long-term debt and will repay the debt with tax increments generated by the Project. The City may also incur certain costs site preparation, site acquisition and remediation, and other public infrastructure and stormwater management within the District. These costs may be financed with proceeds of debt, advances, or cash funded. The City may also elect to provide development incentives to development or redevelopment projects in the District and will incur costs for administration of the District. Development incentives, if provided, are expected to be paid from tax increment generated by the associated redevelopment project on a “pay as you go” basis. 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 2052 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. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 29  City of Green Bay, Wisconsin Tax Increment District No. 28 Cash Flow Projection Projected Revenues Projected Expenditures Balances 2025 G.O. Promissory Note $6,425,000 Interest Dated Date: 10/01/24 Development Planning & Total Liabilities Year Tax Increments Earnings Debt Proceeds Total Revenues Principal Est. Rate 1 Interest Incentives2 Public Inf. Financing Costs Admin. Expenditures Annual Cumulative Outstanding Year 2024 0 0 0 0 0 0 2024 2025 0 6,425,000 6,425,000 257,000 5,500,000 150,450 5,000 5,912,450 512,550 512,550 6,425,000 2025 2026 0 0 257,000 5,150 262,150 (262,150) 250,400 6,425,000 2026 2027 0 0 257,000 5,305 262,305 (262,305) (11,905) 16,225,347 2027 2028 544,105 544,105 100,000 4.000% 255,000 71,737 5,464 432,201 111,905 100,000 16,053,610 2028 2029 727,260 727,260 290,000 4.000% 247,200 184,432 5,628 727,260 0 100,000 15,579,178 2029 2030 730,860 730,860 300,000 4.000% 235,400 189,664 5,796 730,860 0 100,000 15,089,514 2030 2031 734,478 734,478 310,000 4.000% 223,200 195,307 5,970 734,478 0 100,000 14,584,207 2031 2032 738,113 738,113 325,000 4.000% 210,500 196,464 6,149 738,113 0 100,000 14,062,743 2032 2033 741,767 741,767 340,000 4.000% 197,200 198,233 6,334 741,767 0 100,000 13,524,509 2033 2034 745,439 745,439 350,000 4.000% 183,400 205,515 6,524 745,439 0 100,000 12,968,994 2034 2035 749,129 749,129 365,000 4.000% 169,100 208,309 6,720 749,129 0 100,000 12,395,685 2035 2036 752,837 752,837 380,000 4.000% 154,200 211,716 6,921 752,837 0 100,000 11,803,970 2036 2037 756,563 756,563 395,000 4.000% 138,700 215,735 7,129 756,563 0 100,000 11,193,235 2037 2038 760,308 760,308 415,000 4.000% 122,500 215,466 7,343 760,308 0 100,000 10,562,769 2038 2039 764,072 764,072 430,000 4.000% 105,600 220,909 7,563 764,072 0 100,000 9,911,860 2039 2040 767,854 767,854 445,000 4.000% 88,100 226,964 7,790 767,854 0 100,000 9,239,896 2040 2041 771,655 771,655 465,000 4.000% 69,900 228,731 8,024 771,655 0 100,000 8,546,164 2041 2042 775,475 775,475 485,000 4.000% 50,900 231,310 8,264 775,475 0 100,000 7,829,854 2042 2043 779,313 779,313 505,000 4.000% 31,100 234,701 8,512 779,313 0 100,000 7,090,153 2043 2044 783,171 783,171 525,000 4.000% 10,500 238,903 8,768 783,171 0 100,000 6,326,249 2044 2045 787,048 787,048 778,017 9,031 787,048 0 100,000 5,548,232 2045 2046 790,943 790,943 781,642 9,301 790,943 0 100,000 4,766,590 2046 2047 794,859 794,859 785,278 9,581 794,859 0 100,000 3,981,312 2047 2048 798,793 798,793 788,925 9,868 798,793 0 100,000 3,192,387 2048 2049 802,747 802,747 792,583 10,164 802,747 0 100,000 2,399,804 2049 2050 806,721 806,721 796,252 10,469 806,721 0 100,000 1,603,552 2050 2051 810,714 810,714 799,931 10,783 810,714 (0) 100,000 803,621 2051 2052 814,727 814,727 803,621 11,106 814,727 0 100,000 0 2052 Totals 19,028,952 0 6,425,000 25,453,952 6,425,000 3,263,500 9,800,347 5,500,000 150,450 214,655 25,353,952 Totals Notes: PROJECTED CLOSURE YEAR 1 Assumes that terms and provisions of any development agreements related to the District will not preclude issuance of tax-exempt debt to finance public improvements to serve the District. 2 Projection of amounts potentially available for development incentives included for purposes of determining economic feasibility only. Any incentives provided will require that developer LEGEND: 2 demonstrate the need for public participation to the satisfaction of the City, with terms and conditions of any assistance to be provided to be defined in a development agreement. CALLABLE MATURITIES END OF EXP. PERIOD Table 3 – Cash Flow Tax Incremental District No. 28 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: Proposed Changes of Zoning Ordinance, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances The proposed Plan is not currently in conformance with the City’s current zoning ordinances. The City intends to rezone the properties at the time of development. Master (Comprehensive) Plan and Map The proposed Plan is not currently in conformance with the City’s Comprehensive Plan and Map. The City intends to amend the Comprehensive Plan and Map at the time of development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 28 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 rehabilitating and conserving property and providing necessary public infrastructure improvements. Through use of tax increment financing, the City can attract new investment that results in increased tax base. The development will develop the site into a dynamic neighborhood that will include single-family and multi-family housing units, a community park and an urban farm. 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 increased employment opportunities, diversified housing stock and other benefits to the local economy resulting from the purchase of goods and services related to construction and operation of the Project. The project will active a renewal of the area and further prevent blighted conditions. Tax Incremental District No. 28 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. 28 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. Tax Incremental District No. 28 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. 28 Dear Mayor: Wisconsin Statute 66.1105(4)(f) requires that a project plan for a tax incremental financing district include an opinion provided by the City Attorney advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. As City Attorney for the City of Green Bay, I have been asked to review the 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. 28 is complete and complies with the provisions of Wisconsin Statute 66.1105. Sincerely, City Attorney Tax Incremental District No. 28 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. Green Bay Green Bay Northeast Revenue Mtro Sewer City of Green Area School Wisconsin Revenue Year Brown County District Bay District Tech. College Total Year 2026 0 0 0 0 0 0 2026 2027 0 0 0 0 0 0 2027 2028 86,336 0 224,925 215,025 17,819 544,105 2028 2029 115,399 0 300,639 287,405 23,817 727,260 2029 2030 115,970 0 302,127 288,828 23,935 730,860 2030 2031 116,544 0 303,622 290,258 24,054 734,478 2031 2032 117,121 0 305,125 291,695 24,173 738,113 2032 2033 117,700 0 306,636 293,138 24,292 741,767 2033 2034 118,283 0 308,153 294,590 24,413 745,439 2034 2035 118,869 0 309,679 296,048 24,534 749,129 2035 2036 119,457 0 311,212 297,513 24,655 752,837 2036 2037 120,048 0 312,752 298,986 24,777 756,563 2037 2038 120,643 0 314,300 300,466 24,900 760,308 2038 2039 121,240 0 315,856 301,953 25,023 764,072 2039 2040 121,840 0 317,420 303,448 25,147 767,854 2040 2041 122,443 0 318,991 304,950 25,271 771,655 2041 2042 123,049 0 320,570 306,459 25,396 775,475 2042 2043 123,658 0 322,157 307,976 25,522 779,313 2043 2044 124,270 0 323,751 309,501 25,648 783,171 2044 2045 124,885 0 325,354 311,033 25,775 787,048 2045 2046 125,504 0 326,964 312,572 25,903 790,943 2046 2047 126,125 0 328,583 314,120 26,031 794,859 2047 2048 126,749 0 330,209 315,675 26,160 798,793 2048 2049 127,377 0 331,844 317,237 26,290 802,747 2049 2050 128,007 0 333,487 318,808 26,420 806,721 2050 2051 128,641 0 335,137 320,386 26,550 810,714 2051 2052 129,277 0 336,796 321,972 26,682 814,727 2052 Totals 3,019,434 0 7,866,289 7,520,040 623,188 19,028,952 Tax Incremental District No. 28 Project Plan City of Green Bay Prepared by Ehlers Page | 36