Green Bay RDA approves multiple development agreements, extends planning option and authorizes outside counsel for loan collection

The Green Bay Redevelopment Authority on Thursday approved development agreements and amendments for projects across the city, extended a planning option for a five-townhouse project and authorized hiring outside counsel to pursue repayment of a $35,000 revolving loan to Bay Area Burger Company, LLC.

The meeting focused most heavily on three projects: a proposed redevelopment along the Fox River at East Mason and South Adams streets, an amended agreement for converting the former U.S. Bank building on Pine Street to apartments, and a proposed 30-unit multifamily project on Hobart Drive.

Matt, staff member, described the riverfront proposal as “substantially, very similar” to a 2019 development agreement begun by Miller Land Investments and said Spark Development proposes to build about 25 market-rate units with an estimated post-construction assessed value of about $15.5 million. “They showed approximately about a 4 and a half million dollar gap in their capital stack,” Matt said, and staff recommended city assistance similar to the prior incentive with a higher cap of $4.5 million and a 27-year blanket TID for the district.

Derek, the developer on the call, was available to answer questions, and staff noted a TID application to create a district focused on the riverfront parcel would be brought back for creation this summer, with an operational target tied to the tax rolls discussed for early 2026.

On a separate item, staff recommended approving a first amendment to the development agreement with Living Downtown LLC for the rehab and reuse of the former U.S. Bank building at 425 Pine Street. Diana, finance director, and staff explained the project scope was expanded to convert the second floor to residential, adding 11 market-rate units. The RDA kept the previously agreed 85% pay-as-you-go incentive but recommended raising the funding cap from $4.1 million to $7 million to close the developer’s projected funding gap. Staff said the city would allow collateralization of the incentive if the lender requests it and that reimbursements would require demonstrated qualifying expenditures.

Rebecca, staff member, presented a proposed development agreement for Moskey Corp’s 30-unit project at 1116 Hobart Drive on the city’s west side. The parcels are included in TID 26 (Southwest Woods), and the assessor estimates the completed project’s assessed value at about $3 million, up from a combined current assessed value of about $176,400. Staff recommended approval contingent on Ehlers, the city’s financial consultant, reviewing the developer pro forma and providing a positive recommendation.

The authority also approved one-year development agreements with Greater Green Bay Habitat for Humanity for multiple single-family projects in city neighborhoods, a one-year agreement for Ortega Properties LLC to build a duplex, and a 60-day planning-option extension for Deals Development Partnership Capital to finalize plans for five townhouses. In addition, the RDA approved a one-year development option with Moskey Corp and other smaller site agreements presented during the meeting.

On business assistance enforcement, Stephanie, staff member, told the board that after more than a year of unsuccessful communications the city’s law department—short-staffed—recommended outside counsel to pursue collection of the outstanding revolving loan to Bay Area Burger Company, LLC (126 South Broadway). The board approved hiring outside counsel and directed any negotiated resolution beyond collection of the outstanding balance to return to the RDA for approval.

Votes at a glance

- Delta Agreement (100 E. Mason / 0 S. Adams) — motion to approve carried. Staff recommended a development agreement with Spark Development; assistance discussed: pay-as-you-go incentive similar to prior agreement with a cap proposed at $4.5 million; creation of a TID to be considered this summer. (Motion: approved; mover/second recorded in meeting transcript; vote verbally recorded as aye.)

- First amendment to development agreement with Living Downtown LLC (425 Pine St., US Bank building) — motion to approve carried. Amendment keeps 85% PAYGo rate and raises the funding cap from $4.1 million to $7 million; collateralization of the incentive authorized for director approval subject to legal review. (Motion: approved.)

- Development agreement with Moskey Corp (1116 & 0 Hobart Dr.) — motion to approve carried. Project: 30 market-rate rental units; estimated post-construction assessed value ~$3,000,000; city assistance capped at $450,000 per staff clarification. Approval included condition that Ehlers review the pro forma. (Motion: approved.)

- One-year development agreements with Greater Green Bay Habitat for Humanity (multiple single-family homes) — motions to approve carried. (Motions: approved.)

- One-year development agreement with Ortega Properties LLC (duplex at 1112 N. Van Buren / North Biernan area) — motion to approve carried. (Motion: approved.)

- 60-day extension to planning option for Deals Development Partnership Capital (townhouses at 1118–1120 N. Van Buren and 910 River St.) — motion to approve carried. Developer requested longer; board approved 60 days. (Motion: approved.)

- Authorization to hire outside counsel to pursue collection from Bay Area Burger Company, LLC (126 S. Broadway) — motion to approve carried. Board authorized outside counsel; any negotiated settlement beyond full repayment to return to board. (Motion: approved.)

- Minutes and agenda approvals — standard procedural motions carried.

Board members and staff who spoke during the meeting reiterated that most project approvals include standard conditions: developer demonstration of “but-for” need for TIF assistance, requirement of qualifying expenditures for reimbursement, and legal review of collateralization documents. Several members praised the riverfront parcel and downtown redevelopment opportunities and emphasized the city’s desire to see projects move to construction within the year.

The RDA received a brief staff update introducing Jason Faddis as a new rent specialist and an administrative update about other downtown activity, including acquisition activity at the former Chase Bank and the Wisconsin Public Service site becoming available for future redevelopment.