Ashwaubenon joint review board accepts TID No. 4 2024 annual report as district moves toward closure

The Joint Review Board for Tax Incremental Finance District No. 4 in the Village of Ashwaubenon accepted the district's 2024 annual report at a meeting Monday, June 2, 2025, and heard from village staff that the district is in the process of being closed.

Greg (last name not specified), a village staff member, told the board that the district “was officially close[d]” after the board added a one‑year housing extension last year, and that the district still must file an annual report with the state. He said the district collected nearly $1.5 million in increment last year and that the personal‑property exemption figures “have been the same number for years.”

The report presentation explained the practical effects of closing the TIF district: the expenditure period has ended, so “we can't start any new projects,” and remaining activity will consist mainly of final accounting and payouts. Greg said the village expects a final audit later this summer and plans a presentation to the village board once audit results and closing figures are available.

Greg identified an outstanding debt obligation of about $94,050 tied to the district. He said the village would either escrow funds to pay that remaining debt or call the obligation if it is callable, describing that as a likely last payment tied to the district's closure. He also summarized how final increment is applied on closure: growth is applied against a levy reduction of up to 50 percent and payouts are made to taxing jurisdictions based on those final numbers.

Board members also discussed a small housing allocation that remains after closing. Greg described a three‑tier program concept: a launch program for first‑time homebuyers or façade improvements, a program to help keep residents in their homes, and an affordable‑housing component that could fund land acquisition to reduce development costs. He said those housing dollars are not limited to uses inside TIF District No. 4 and that there is no state requirement forcing implementation within a specific number of years.

Board members moved and approved routine agenda items earlier in the meeting, elected a chair for the session and then voted to accept the TIF No. 4 2024 annual report by voice vote. There was no recorded roll‑call tally in the transcript; the board called for ayes and heard none opposed.

The meeting adjourned after accepting the report. Staff said they will set a date, likely in August, to present final audit figures and closing details to the village board and to notify taxing jurisdictions about payouts and the final levy adjustments.