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RDA votes to extend TID 4 increment for affordable housing then moves to terminate TID
Summary
Green Bay RDA approved a one-month extension to allocate the final increment from Tax Increment District 4 to the city's Tax Increment District Affordable Housing (TADA) program, then approved the formal termination resolution for the TID.
The Green Bay Redevelopment Authority voted to extend Tax Increment District (TID) 4 for one additional increment year to direct the final increment into the city's Tax Increment District Affordable Housing (TADA) program, then approved a separate resolution to terminate TID 4.
Staff said the extension would allow the city to reallocate the final tax increment from TID 4's 2024 tax roll toward affordable housing grants administered through the TADA program rather than allowing those funds to revert to other taxing jurisdictions. Staff identified the increment amount at $657,659 and described the state-authorized option to extend a TID for this purpose.
Rebecca (staff) told the RDA that using the extension to fund TADA keeps dollars in the city rather than returning them to the levy for county, school district and other taxing jurisdictions. Rebecca said the extended dollars would be available for local affordable housing gap financing and that with the extension the program could make a substantial amount of additional funds available; she told the RDA the extension would yield "somewhere between $6,700,000 of additional" funds to deploy through the program.
Alder Johnson, speaking to the RDA, framed the extension as a practical local tool: "As long as there's a housing need in our community, there's really no reason ... not to support this," he said, and he noted the flexibility in how the funds can be used citywide. Staff explained that about 75% of the increment would be targeted to affordable housing and the remaining 25% could support other housing projects.
Following discussion, the RDA voted to adopt the affordable housing extension resolution for TID 4 and then adopted the termination resolution to close TID 4 as provided under state law. Staff said both items will be forwarded to the Common Council; the termination is a standard follow-up once the extension and reporting requirements are in order.
RDA members emphasized that if the extension were not adopted the final increment would be distributed to the various taxing jurisdictions rather than retained by the city for local housing projects.
Votes at a glance: the RDA adopted the resolution to extend the final TID 4 increment to the TADA program (motion moved and seconded; motion carried) and then adopted the termination resolution for TID 4 (motion moved and seconded; motion carried).
