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Joint Review Board approves creation of Green Bay Tax Incremental District 32, "The Pines"
Summary
The Green Bay Tax Incremental District Joint Review Board voted Oct. 13 to approve creation of Tax Incremental District 32, known as The Pines, to support an infill project of 41 single-family homes. The project plan is a 27-year TID and includes infrastructure and public-project costs within a half-mile radius pared to four items.
GREEN BAY, Wis. — The Green Bay Tax Increment District Joint Review Board on Oct. 13 approved a resolution creating Tax Incremental District 32, called The Pines, to support an infill development of 41 single-family homes, staff said.
The board’s action finalizes a project plan that was previously approved by the Redevelopment Authority on Aug. 12 and by the Green Bay Common Council on Sept. 16. The plan covers an area of about 10 acres adjacent to DuCharret Street and establishes a 27-year tax incremental district to pay eligible project costs associated with the Broadway Realty LLC development.
City staff said the project plan lists eligible project costs including the development incentive, property acquisition, site preparation, utility and infrastructure upgrades, street and streetscape improvements, and administrative expenses. The plan also proposed a pay-as-you-go development incentive; the transcript does not specify a numerical amount for that incentive.
At the board’s second presentation of the item, staff described a reduction in the list of off-site "half-mile" projects originally included in the plan. City staff narrowed the half-mile projects to four items they judged to provide a direct benefit to the proposed residential district: Dan’s Park (adjacent to the site), the Henry Street bridge over Baird Creek (an access point west of the district), South Danes Avenue (a primary corridor to the development), and DuCharret Street (along the east edge of the district).
Board members moved to adopt the resolution at the meeting. A board member identified in the transcript only by the first name Cale moved to adopt the resolution; Brent Weicker seconded the motion. The board approved the resolution by unanimous voice vote.
The board’s approval completes the local approvals required to create the TID; the transcript records no additional conditions or amendments following the vote. With the resolution adopted, the project plan and TID designation provide the financing framework for the listed eligible costs and the off-site improvements the city has retained in the plan.
The board adjourned after the vote.
