The Village of Shorewood Joint Review Board voted to acknowledge and file state-required reports after staff told the board that the village’s three tax increment financing (TIF) districts are generating more revenue than expected overall, though two districts remain short of projected equalized values.

Staff member (Christina or David) summarized the financials, saying, "all 3 of the TIF districts are performing as far as the revenue is concerned, better than expected." The staff member added that equalized-value calculations — "based on what the state provides" — show mixed results by district: "TID 3 ... as the end of 2024, a little bit short on our projected equalized value. On TID number 4, we are at approximately where we expected to be, as of the end of 2024. And TID number 5 were, again, were still short."

The board recorded a voice vote to acknowledge the filing of the state-required reports. Abigail Fowler moved to "acknowledge the reports and approve the filing as presented," and the motion was seconded by Celia Benton. A voice vote was taken; the board recorded the response as "Aye" and the chair said the "motion carries."

Later in the meeting the board considered and adopted a resolution tied to the reports. Celia Benton moved to "approve the resolution as presented," Abigail Fowler seconded, and the board again approved the action by voice vote; the chair stated, "resolution is adopted as presented."

Board members noted the absence of the public member, who "will join us next year" after travel issues, and the meeting concluded with a motion to adjourn by Celia Benton that met no objections. The meeting opened at 08:04 and adjourned at 08:10.

The actions confirm the board has filed the state-required TIF reports and formally adopted the related resolution; staff did not present specific dollar amounts or detailed schedules for changes to district boundaries or expenditures during the meeting, and equalized-value figures were described in relative terms rather than precise values.