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Board approves TID 31 project plan to back 125-unit Aster apartments and Fire Station 1 redevelopment
Summary
The Joint Review Board approved a draft project plan for Tax Increment District 31, a proposed blighted-area district covering roughly 5.5 acres in southern downtown to support a 125-unit market-rate apartment project and the planned redevelopment of Fire Station 1.
The Green Bay Joint Review Board on June 10 voted to approve a draft project plan for proposed Tax Increment District 31, a blighted-area TIF intended to support two downtown redevelopment projects including a 125-unit apartment building called Aster and a planned conversion of Fire Station 1 to mixed-use space.
City staff said the proposed district covers just over 5.5 acres in the southern portion of downtown near South Adams and East Mason streets and includes five parcels that the staff has designated as blighted; staff noted that about 78% of the district’s area is designated blighted, qualifying it under state rules for a blighted-area TID with a 27-year maximum life. “These two projects together are estimated to require about $5,200,000 in pay-as-you-go incentives,” said Harry, an Ehlers consultant, summarizing the modeled costs.
The Aster project has a development agreement approved in April 2025 that calls for an 80% pay-as-you-go reimbursement with a $4,500,000 incentive cap. The Fire Station 1 conversion is the subject of a separate development agreement currently under negotiation; Ehlers modeled an illustrative 80% pay-go over 20 years for that conversion in the draft plan but said final terms will be set by negotiation.
Ehlers’ modeling projects about $9,300,000 in incremental tax collections over the life of the district. The presentation estimated roughly $18,000,000 in assessed value from the apartment building and about $2,500,000 from the fire-station conversion under the plan’s assumptions. Ongoing planning and administrative costs were estimated at approximately $460,000.
Board members raised no formal objections in the meeting transcript and a motion to approve the draft project plan passed by voice vote. As with TID 30, staff said the project plan will next be considered by the Redevelopment Authority and then by City Council; city staff will return to the Joint Review Board as part of the TIF creation timeline after those approvals.
No public comment on this agenda item was recorded in the meeting transcript.
