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Green Bay joint review board approves 2024 TIF annual report; staff to file with state
Summary
The Green Bay Joint Review Board voted to approve the 2024 consolidated annual report for the city’s tax increment finance (TIF) districts and directed staff to file the report with the state. The report shows a combined fund balance of about $13.4 million and highlights transfers and land purchases across multiple districts.
The Green Bay Joint Review Board on June 10 voted to approve the city’s 2024 consolidated annual report for tax increment financing districts and directed staff to file the report with the state.
City staff summarized the report during the board’s meeting, saying the combined fund balance for all TIF districts stood at about $13,400,000 at year-end 2024 after the city spent roughly $11,000,000 on development and infrastructure projects. “As you can tell, the fund balances as of 1/1/24 we were sitting at about $13,800,000, and we ended at $13,400,000,” said Diana Ellenbecker, City of Green Bay staff, providing the board’s high-level overview.
The report lists several district-level highlights. TID 4 was closed in January 2025 and will be removed from future reports; TID 5 recorded land purchases and trail improvements but retains an estimated $2,000,000 fund balance; TID 12 reported habitat infrastructure and traffic-light expenditures and finished the year near $1,100,000 after transferring $5,000,000 to TID 13 for future development; and TID 13 received about $7,500,000 in transfers for future projects. The summary also noted a negative balance in TID 14 (the railyard district) that has begun to improve as new development comes online.
Board members asked questions about individual districts’ prospects for new increment and the timing of potential redevelopment. On TID 20 (Whitney Park), staff said the district’s negative balance stemmed largely from a 2024 purchase of a parking lot that is expected to generate future development increment “in a few years,” but that most nearby projects are complete and additional growth is not yet expected.
After discussion, a motion to approve the consolidated 2024 TIF annual report passed by voice vote. Board members present voted in favor and staff will file the approved report with the state as required.
The board then moved on to other agenda items, including two draft project plans for new TIF districts.
