Community Development Authority Board of Directors

Community Development Authority Board of Directors Whitewater Municipal Building Community Room, 312 West Whitewater St., Whitewater, WI 53190 *In Person and Virtual Thursday, December 18, 2025 - 5:30 PM MINUTES CALL TO ORDER Meeting called to order at 5:35pm. ROLL CALL PRESENT: Board Member Jon Kachel Board Member Joseph Kromholz Board Member Kelsey Price Board Member Christ Christon Council Representative Orin O.Smith Council Representative Brian Schanen STAFF: Mason Becker, Economic Development Director Ashwini Rao, Economic Development Coordinator Jeremiah Thomas, Comptroller ABSENT: Board Member Thayer Coburn GUEST: Tim Vandeville, Jr., Stonehaven Development John Davis, Contractor Pam Carper, Housing Program Manager, Walworth County Economic Development Alliance John Marshall, Tincher Realty. APPROVAL OF AGENDA A committee member can choose to remove an item from the agenda or rearrange its order; however, introducing new items to the agenda is not allowed. Any proposed changes require a motion, a second, and approval from the Committee to be implemented. The agenda shall be approved at each meeting even if no changes are being made at that meeting. Community Development Authority Board of Directors Minutes December 18, 2025 Page 2 Motion made by Council Representative Schanen, Seconded by Council Representative O.Smith. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen CONSENT AGENDA Items on the Consent Agenda will be approved together unless any committee member requests that an item be removed for individual consideration. Motion made by Council Representative O.Smith, Seconded by Board Member Kromholz. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen 1. Approval of November Minutes 2. Review and approval of October financial statements. 3. Review and approval of November financial statements. HEARING OF CITIZEN COMMENTS No formal Committee action will be taken during this meeting although issues raised may become a part of a future agenda. Participants are allotted a three minute speaking period. Specific items listed on the agenda may not be discussed at this time; however, citizens are invited to speak to those specific issues at the time the Committee discusses that particular item. To make a comment during this period, or during any agenda item: On a computer or handheld device, locate the controls on your computer to raise your hand. You may need to move your mouse to see these controls. On a traditional telephone, dial *6 to unmute your phone and dial *9 to raise your hand. None CONSIDERATIONS / DISCUSSIONS / REPORTS City Comptroller, Jeremiah Thomas, presented a detailed explanation of the financial documents provided to the CDA. Fund 900 is the Community Development Authority’s (CDA) daily operations fund and Fund 910 is the CDA’s primary program (loan/grants, property, etc) account. Each month there are a variety of reports prepared by Finance and provided to the CDA to serve as updates on the status of each of the funds. The monthly financial reports consist of the following reports: The Rev Exp report is the monthly and Year to Date (YTD) Income statement for each fund. The Balance Sheet is the monthly and YTD balance sheet for each fund. The Bank account Reconcile Sheet states each checking account balance for the past 12 months, notes any reconciled differences from the General Ledger system and the month end bank account balance, and the interest rate earned and actual interest paid in each account. Community Development Authority Board of Directors Minutes December 18, 2025 Page 3 The Loan Balance Report provides a monthly update on all the loans currently on the books for Fund 910 and gives a running balance of the Affordable Housing Loans issued for down payment assistance. The CDA Monthly Bank Entries Report provides a report of the payments received from CDA Fund 910 loans, other monies collected outside of loan payments and expenses paid from CDA Fund 910 monies. The Fund 900 Checks Report lists all checks or expenses paid from the CDA Fund 900 operating budget. Jeremiah, in collaboration with the Economic Development team, will provide recommendations/ideas on best practices regarding administration of CDA's loan programs. 4. Discussion and Possible Action on Outstanding Loans including Black Sheep The Board asked the Community Development Division to ascertain from Stafford & Rosenbaum (attorneys) if there is a judgement in the Black Sheep case. A decision will be taken by the Board on receipt of that information. 5. Review of Tax Bill and Approval of Payment Several months ago, the CDA and the city completed a property swap with Faith Tanis Properties, LLC. The CDA took ownership of the former “Wrap & Ship” parcel, located at 116 E Main St, in exchange for a piece of land in the Business Park located at the corner of Bluff Rd and Greenway Ct (Parcel ID /A444200003), where Tanis is currently constructing new commercial contractor buildings. As part of the settlement statement, the city was paid for a prorated portion of the 2025 property taxes by Tanis. The CDA owes the remainder, which is reflected on the recently received 2025 tax bill. Motion to approve to pay the taxes using funds from account 910-56500-408. Motion made by Council Representative Schanen, Seconded by Council Representative O.Smith. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen 6. Edgerton Loan Update Community Development Director Becker provided details of the terms and conditions of the Edgerton loan. 7. Update on the WindUp Program The Board discussed the possibility of continuing the Wind Up program and directed the Community Development team to look at grants that could fund the program. Community Development Authority Board of Directors Minutes December 18, 2025 Page 4 8. Discussion and Approval of Consolidation of Action Fund Accounts Motion to approve consolidation of the action funds into one account which would then be used at the discretion of the Board and with the Board's approval. Motion made by Board Member Kachel, Seconded by Council Representative O.Smith. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen EXECUTIVE SESSION Adjourn to Closed Session, TO RECONVENE, pursuant to Wisconsin Statutes 19.85(1)(e) “Deliberating or negotiating the purchasing of public properties, the investing of public funds, or conducting other specified public business, whenever competitive or bargaining reasons require a closed session. Items to be discussed: Prior to moving to Executive Session, introductions were made by: Tim Vandeville, Jr. of Stonehaven Development; John Davis, contractor; Pam Carper, Housing Program Manager, Walworth County Economic Development Alliance and John Marshall, Tincher Realty. Motion to Adjourn to Closed Session. Ehlers is to be present in this discussion. Motion made by Board Member Kromholz, Seconded by Council Representative Schanen. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen 9. Review and possible action on Stonehaven development assistance request 10. Discussion of Becker & Bolton RECONVENE INTO OPEN SESSION Reconvene to Open Session to Take Possible Action on Closed Session Item(s). Motion to instruct the city staff to draft an agreement with all due speed to move forward on the Stonehaven development assistance request for presentation to the CDA and Council for their subsequent approval. Motion made by Board Member Kromholz, Seconded by Council Representative O.Smith. Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen FUTURE AGENDA ITEMS Review and report of Down Payment Assistance Loan Program. ADJOURNMENT Motion to adjourn made by Board Member Kachel, Seconded by Board Member Price. Community Development Authority Board of Directors Minutes December 18, 2025 Page 5 Voting Yea: Board Member Kachel, Board Member Kromholz, Board Member Price, Council Representative O.Smith, Board Member Christon, Council Representative Schanen