Cottage Grove joint review board reviews five TIDs; approves annual-report resolutions for two school districts

The Village of Cottage Grove Joint Review Board on Sept. 17, 2025, reviewed financial status reports for five tax incremental districts (TIDs) and approved resolutions acknowledging that the Monona Grove School District and the Sun Prairie School District filed required annual TID reports.

Greg Johnson, financial advisor with Ehlers, presented the packet of reports and an orientation map showing the locations of TID 5 (Commerce Park, south of I‑94), TID 6 (south of Cottage Grove Road/County Trunk Highway BB), TID 8 (west on Cottage Grove Road), TID 9 (north of TID 6) and TID 10 (north of I‑94). “We prepared the reports that we’ll present this afternoon that were distributed as part of your packet,” Johnson said.

Johnson said TID 5 (created Feb. 2003) is expected to collect a final year of increment in 2026, with an estimated January 1 incremental value of about $257,307,000 and a 2024 year‑end fund balance of roughly $909,600; the district’s fund balance is projected to be sufficient to pay remaining obligations and any excess would be distributed proportionally to taxing jurisdictions after a final audit. For TID 6 (created Feb. 2004), the board approved a six‑year extension last year and the district’s final year of increment collection is now 2031; Johnson said the district’s incremental value as of Jan. 1 was approximately $3,154,000 and the district is expected to remain open through its maximum life.

Johnson described TID 8 (created Feb. 2018) as projecting closure in 2039 under current assumptions; the district had an estimated incremental value at the start of the year of about $5,055,000 and a 2024 deficit fund balance of about $66,118. He said the village has awarded pay‑as‑you‑go developer incentives in the district — $450,000 for Foundation Stands and $500,000 for New Tech Painting — and is modeling possible utility infrastructure financing in 2026.

For TID 9 (also created in 2018) Johnson reported an estimated incremental value near $55,000,000 and a 2024 fund balance of nearly $5.4 million, but noted that the 2024 fund balance includes a $4.9 million nonliquid asset (land held for resale) reflected on the village’s audited financial statements. He said a balance‑sheet adjustment in the cash‑flow analysis reduces the liquid portion of the fund balance and, under current assumptions, the district could be positioned to close in 2031 if no further project costs are approved.

Johnson said TID 10 (north of I‑94, within the Sun Prairie School District) had an incremental value of about $39.8 million as of Jan. 1 and a modest 2024 deficit (about $5,370). He reported the Amazon facility under construction at the site is conservatively estimated to add roughly $285 million of incremental value when complete; Johnson noted Amazon‑related, pay‑as‑you‑go development incentives are capped at $48 million, with a secondary incentive tied to early land assembly capped at $2.5 million. “This remains fluid,” Johnson said of the timetable and valuation for the Amazon project.

Cameron, identified as village staff, told the board the village plans to present a formal termination resolution for a TID at a board meeting in April to meet the Department of Revenue deadline and to wrap up filing and payments in September. “There will be a recommendation for a formal termination resolution before the DOR deadline, and then wrapping up the expenses, filing a report early September, and payments September,” Cameron said.

The board approved motions by voice vote to appoint a chairperson for the meeting, to accept minutes from the Oct. 5, 2023 and Oct. 3, 2024 joint review board meetings, and to adopt two resolutions acknowledging that annual reports were filed and that annual‑meeting requirements were met for the Monona Grove School District and the Sun Prairie School District. The meeting adjourned after those votes.

Votes at a glance

- Motion to appoint meeting chairperson — approved (voice vote; mover/second not specified in transcript). - Motion to approve minutes (Oct. 5, 2023; Oct. 3, 2024) — approved (voice vote; mover/second not specified in transcript). - Resolution acknowledging filing of annual reports and compliance for Monona Grove School District — approved (motion made by Meeting Chair; second by Adam). - Resolution acknowledging filing of annual reports and compliance for Sun Prairie School District — approved (motion made by Meeting Chair; second by Laura). - Motion to adjourn — approved (voice vote).

The board received no public‑comment items about the TID analyses during this meeting and took no additional formal actions authorizing new debt or incentive programs; Johnson’s presentation and the village staff comments left open the possibility that the village may pursue additional infrastructure or development incentives subject to future approvals and the cash‑flow positions of the respective TIDs.