Board approves public‑improvement agreement for Deerfield Court; developer to share costs

The Suamico Village Board on Monday approved a public improvement agreement with Deerfield Real Estate Adventures LLC to construct Deerfield Court and related utilities in Tax Incremental District (TID) No. 1, with the developer agreeing to contribute half the project cost and to a clawback requirement tied to a development threshold.

Administrator Kaker said the project site comprises four vacant parcels totaling about 38 acres in the TID. The developer agreed to a clawback provision requiring at least $4,000,000 of improvements on those parcels by Jan. 1, 2028; if the threshold is not met the village may assess the lots to recover its share. The estimated project cost presented to the board was approximately $530,000.

Kaker said the TID has the available balance to fund the village’s initial contribution; staff reported an ending TID 1 balance around $1.5 million and projected a final balance near $1.0 million in 2031 after the project. The board voted 7‑0 to authorize the agreement; Trustee Andrews moved the measure and Trustee McKeefrey seconded.

Kaker told the board the road and utility construction are required for three of the four parcels to be developable and that the village had pursued a developer partner who agreed to split the cost. Staff said the project would be designed and bid so construction could occur within the TID expenditure period (agreement deadline Jan. 1, 2026), with construction expected in 2026 if authorized.

What happens next: Staff will finish design and bid the project prior to the TID expenditure deadline; if the developer fails the $4 million improvement requirement the agreement contains assessment and clawback language to recover the village contribution.

Evidence: staff presentation, agreement in packet and unanimous roll call vote in the meeting record.