Germantown reviews village-center financing options, TID status and RFP timetable

Village of Germantown officials spent the July 7 joint meeting reviewing the status of existing tax incremental districts (TIDs), possible financing scenarios for the proposed village center redevelopment and a proposed timetable for rezoning and an RFP process.

Phil Kossen of Ehlers and Associates briefed the plan commission and village board on four existing TIDs and potential paths forward for a new TID for the village center. He said the four active districts are performing strongly: TID 6 had roughly $55 million in incremental value, TID 7 about $44 million, TID 8 approximately $200 million and TID 9 about $24 million, subject to Department of Revenue valuation updates. "All four districts are performing very well," Kossen said, and he noted the Department of Revenue planned to release updated valuations later that week.

Kossen framed four broad options: (1) proceed with creation of TID 10 as originally proposed and pursue the higher-density build-out reflected in the draft project plan; (2) create a smaller TID covering the FlowerSource properties only (and optionally retain the Ascension property inside the TID); (3) do not create a new TID and instead sell village-owned land to a…