West Bend council discusses Tax Increment District No. 17 project plan; vote deferred pending notice and packet posting

The West Bend Common Council received a detailed presentation on Tax Increment District (TID) No. 17 at its Jan. 6 meeting and elected not to take final action that night because the project presentation was not included in the council packet for some members.

Phil Costin of Ehlers reviewed the project plan on the record, describing the district as a 104.77-acre mixed-use TID that includes about 1.79 acres of wetland. Costin summarized estimated project costs up to about $17.8 million and a potential increase in taxable value of roughly $69.1 million. He said the district would likely run its full 20-year life to repay obligations because of a sizable roadway and water-main improvement (South 18th Avenue) included in the plan.

Costin said the plan layers two developer municipal-revenue-obligations (MROs): a $1,211,000 MRO for a Continental Properties incentive and an MRO of up to $5,000,000 under negotiation with Newman Development for internal subdivision roads. Costin said the MROs are structured so the city does not need to borrow up front; developers are repaid from increment as it is generated. He described South 18th Avenue roadway and water-main improvements as the plan’s largest cost, citing figures…