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Board accepts Ashwaubenon TID No. 5 annual report; district valuation jumps, members ask for housing-unit data
Summary
The Joint Review Board approved the 2024 annual report for Tax Incremental District No. 5, reviewed large valuation gains tied to recent development and asked staff to provide housing-unit change data for the area affected by the district.
The Joint Review Board approved the 2024 annual report for Tax Incremental District No. 5 and discussed the district's purpose, recent valuation increases and whether redevelopment has increased or reduced housing units.
Greg, village staff, said TID No. 5 was originally created as an overlay on portions of Tax Incremental District No. 3 to support redevelopment of multiple small rental properties into denser, largely market‑rate developments. He described the district as "expected" to show a negative fund balance during intensive redevelopment and said it remains on track to mature in 2042.
The nut graf: board members reviewed large valuation increases tied to recent private developments, noted the district carries substantial debt from earlier land‑assembly and improvements, and asked staff to provide a clearer count of net dwelling units gained or lost in the redevelopment area.
Greg told the board that the 2023 total TID value for TID No. 5 was roughly $157 million and that the 2024 value rose to about $386 million, an increase he described as roughly 146 percent and attributable in part to new facilities including a Subaru plant and a facility noted as the Bellen (Bellinger) facility. He said the district has funded road work, a traffic signal and a portion of a mill-and-overlay street program where streets fall inside the district.
Board members asked whether redevelopment had reduced or increased housing supply in the district's footprint. Greg said the village produces an annual housing report for the municipality (villagewide) and offered to return with more specific data showing dwelling‑unit counts in the areas covered by the TID. One board member said anecdotal impressions suggested the net number of dwelling units had increased.
The board voted to accept the TID No. 5 annual report. The meeting then concluded with a motion to adjourn.
Ending: Staff committed to provide housing‑unit change data for the TID area and to continue to monitor valuations and debt repayment timelines.
