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Joint Review Board approves transfers from TID 12 to support Shipyard and JBS redevelopment projects
Summary
The board approved transferring $3.7 million from TID 12 to TID 22 (Shipyard area) and $2.0 million from TID 12 to TID 28 (JBS project) to support property acquisition, remediation, infrastructure and public amenities; approvals will proceed through the redevelopment authority and common council.
The Tax Increment District Joint Review Board on March 11 approved an allocation amendment that moves funds from TID 12 toward redevelopment work in two other Tax Increment Districts: $3.7 million to TID 22 (the Shipyard TID) and $2.0 million to TID 28 (the JBS TID).
A city staff member described TID 12 as the I-43 Business Park district, which is scheduled for termination in September and has been carrying substantial upfront infrastructure costs. The staff member said the requested transfers are intended to cover property acquisition, development incentives, infrastructure and public amenities within a half-mile of the receiving TIDs.
For the $3.7 million transfer, staff said the funds would support additional property acquisition in the Shipyard area, including remediation and purchase of blighted sites. Staff identified a development agreement recently approved by the common council with W. E. Hoban Company (locally referred to as Green Bay Drop Forge) that would relocate the business to Grandview Industrial Park; the city may acquire the company’s existing State Street property within a half-mile of the Shipyard TID as part of the effort.
The $2.0 million transfer to TID 28 (JBS) is intended to help cover higher-than-anticipated infrastructure costs for a new neighborhood and public park the city is building on property it acquired. Staff said the project has secured some grant funds and has issued bonds but still faces funding gaps after bids and change orders exceeded estimates. The city is negotiating a development agreement with a multifamily developer whose housing would be mostly workforce housing (roughly 80–120% area median income) and about 20 single-family lots that staff said are anticipated to be placed in a community land trust to preserve long-term affordability.
Staff described the Shipyard TID as a newer district that has already seen public investment to create Shipyard Park and support remediation and redevelopment of blighted parcels. Board members asked for clarification about identified properties, cash flow and the anticipated function of the transfers; staff said some parcels have been identified and that TID 22’s current cash position is constrained and the JBS project faces elevated construction and change-order costs.
A member of the board moved the allocation amendment and the board voted to approve it. The staff member said the joint review board meeting begins the statutory review process; the allocation amendments will next go to the redevelopment authority for approval and then to the common council on March 18 for final action.
