Kenosha finance committee approves $37.5 million in bond sales, CIP changes, housing funding and multiple contracts

Finance Committee Chairperson Wilson presided over a meeting April 21 in which the committee approved the sale of general obligation promissory notes totaling about $35.94 million and a separate taxable issuance of about $1.555 million, approved capital-improvement program adjustments including a $25,000 feasibility study for Washington Pool, reallocated HOME program funds to Habitat for Humanity to build two homes, and authorized multiple leases and contracts including a six-year golf-cart operating lease and a parking-lot lease with Angry Bob Sports Bar LLC.

The actions matter because they set near-term financing terms for stormwater and city projects, move roughly $323,000 in federal HOME program funds into local home construction, and add or confirm multiple operational contracts that affect parks, transit and city property management.

The committee approved two bond resolutions explaining market context and rates. Director Stegatos and Jim Town, the municipal adviser, said the tax-exempt series (Series 2025A) sold with an “all-in” cost near 3.7 percent amid volatile markets; Town credited the city’s rating and the underwriter’s ability to place the bonds during a short sale window. The committee also approved a taxable series (Series 2025B) to fund downtown development with an average cost reported near 5.8 percent; staff noted both series include optional redemption features allowing refinancing if rates fall.

The committee approved a package of special-charge levies for nuisance, trash removal and reinspection fees totaling listed amounts (see Votes at a glance). It also approved capital-improvement program amendments: creation of PK-25-003, a Washington Pool feasibility study for $25,000, funded by reductions to two existing park/athletic improvement lines so there is no net increase; and an amendment to correct an earlier entry that increases a facility-improvement line by $380,000 (made up of a $200,000 private donation and $180,000 in ARPA funds) and adjusts the authorized total to $487,003.99.

On housing, Tim Casey, city development staff, described a proposed amendment to the 2022 consolidated plan to reallocate $323,005.71 from a canceled new homebuyer program to Habitat for Humanity to build two homes on 306 Sixth Ave., including one for Allison Fabiano, a future Habitat homeowner who spoke at citizen comment. Casey said the amendment would be sent to the U.S. Department of Housing and Urban Development for approval after council approval.

The committee voted to dissolve Tax Incremental District No. 6 and to route about $354,000 in expected tax increment to the city’s housing program starting next year, per the mayor’s staff presentation. The committee also approved property transfers to Rocketman Investments LLC (doing business as New Jersey Homes) to transfer five parcels, correcting a prior typographical error about parcel counts.

Contracts and operational items approved included: a six-year operating lease with Harris (maintenance, delivery and storage of golf carts), a financing agreement with Yamaha Motor Finance USA for the carts, a parking-lot lease with Angry Bob Sports Bar LLC that continues prior terms (a nominal $1 annual rent through 2026, then $100 per month), a general-contractor agreement with TeraTech Engineering LLC for transit track repairs, and an agreement with Credit Service International for collection services related to EMS billing (no rate changes). Staff described the golf-cart arrangement as costlier in unit price but noted Harris and Yamaha provide equipment, maintenance and seasonal logistics; a committee member estimated storing carts in-house might save “about $21,000 over six years,” but staff said the city does not own the carts and purchase/maintenance costs may make that impractical.

The committee received a vacant-property status report required by local ordinance and asked for follow-up detail on the report’s categories. Public comment included representatives from Hashtag Community Counsel and Habitat for Humanity.

Votes at a glance

- Item 1 — Resolution awarding sale of $35,940,000 general-obligation promissory note, Series 2025A (tax-exempt). Motion carried. Reported all-in cost ~3.7%. Vote recorded: Alderson DeBaer — Aye; Alderson Harper — Aye; Alderson Dizon — Aye; Alderson Kangas — Aye; Chairperson Wilson — Aye.

- Item 2 — Resolution awarding sale of $1,555,000 taxable general-obligation promissory note, Series 2025B. Motion carried. Reported average cost ~5.8%. Vote recorded: Alderson DeBaer — Aye; Alderson Harper — Aye; Alderson Dizon — Aye; Alderson Kangas — Aye; Chairperson Wilson — Aye.

- Item 3 — Resolution to levy special charges: (A) void securing $2,181.50; (B) trash/debris removal $6,288.37; (C) property-maintenance reinspection fees $18,068; (D) building/zoning reinspection $470. Motion carried; roll call recorded unanimous ayes by the members listed above.

- Item 4 — CIP amendment: create PK-25-003 Washington Pool feasibility study $25,000; corresponding decreases to earlier park/athletic lines; net increase $0. Motion carried; unanimous aye.

- Item 5 — CIP amendment to increase TK21-CO01 facility improvements by $380,000 (correction: previously listed as $280,000). Funding: $200,000 private donation + $180,000 ARPA; amended authorization total $487,003.99. Motion to approve as amended carried; unanimous aye.

- Item 6 — Amendment to 2022 consolidated plan to reallocate $323,005.71 in HOME funds to Habitat for Humanity for two homes at 306 Sixth Ave.; motion carried; unanimous aye.

- Items 7–10 — Final assessments based on construction costs for multiple street, sidewalk and curb/gutter projects (Project 21-1029 Second Avenue and projects 24-10293, 24-1207, 24-1208). Motions to approve carried; unanimous aye.

- Item 11 — Resolution to impose special charges on certain parcels (addresses listed in packet). Motion carried; unanimous aye. Staff noted some mailing addresses showed Pleasant Prairie due to USPS mailing addresses, not parcel jurisdiction.

- Item 12 — Resolution to dissolve Tax Incremental District (TID) No. 6 and distribute excess increment to overlying taxing districts; staff said approximately $354,000 will go to the housing program next year. Motion carried; unanimous aye.

- Item 13 — Resolution to rescind Resolution 46-25 and transfer five parcels to Rocketman Investments LLC (New Jersey Homes); item corrected a prior typographical error about parcel count. Motion carried; unanimous aye.

- Items 14–15 — Operating lease with Harris Golf Cars (2025–2031) for provision, delivery, maintenance and seasonal storage of golf carts; financing agreement with Yamaha Motor Finance USA for golf carts. Motions carried; unanimous aye. Staff said per-cart costs rose modestly and the total contract price increased roughly $800 (total across the fleet) due to per-unit price increases.

- Item 16 — Parking-lot lease (formerly with Ray Bar) with Angry Bob Sports Bar LLC; retains prior terms ($1 annual through 2026, $100/month thereafter); lessee maintains lot. Some council members questioned selling the parcel; staff said keeping the lot preserves leverage for potential future development. Motion carried; roll call recorded unanimous ayes by the members listed above.

- Item 17 — General-contractor agreement between City of Kenosha/Kenosha Area Transit and TeraTech Engineering LLC for track/rail repairs at transit loading/sharing locations; recommendation from transit 5–0. Motion carried; unanimous aye.

- Item 18 — Agreement for collection services with Credit Service International for EMS billing; contract language clarified but rates unchanged. Motion carried; unanimous aye.

- Item 19 — Monthly vacant-property status report; committee received and filed the report and requested follow-up details for future meetings.

Who spoke on record

Speakers quoted or identified in committee discussion and citizen comment: Chairperson Wilson (Finance Committee chairperson, City of Kenosha), Director Stegatos (city staff), Jim Town (municipal adviser, Human Capital Securities), Mister Morrissey (city staff/presenter), Tim Casey (city development staff), Frank Cader (director of public works), Allison Fabiano (future Habitat homeowner; 1925 Sheridan Road), Angela Elliott (executive director, Hashtag Community Counsel), the mayor (City of Kenosha), and Aldersons DeBaer, Harper, Dizon and Kangas (committee members who cast recorded votes). Direct quotes in this article are attributed only to those speakers.

Clarifying details and context

- Bond sale: Series 2025A tax-exempt principal $35,940,000; staff reported an approximate all-in interest cost of 3.7 percent and noted a volatile market; Series 2025B taxable principal ~ $1,555,000 with reported average cost ~5.8 percent. Both series include optional redemption features.

- CIP correction: Item 5 contained a typographical error in the agenda; the two listed $280,000 entries should be $380,000 (split $200,000 donation + $180,000 ARPA), and the amended authorized total is $487,003.99.

- HOME funds: $323,005.71 reallocated to Habitat for Humanity to build two homes at 306 Sixth Ave.; one home purchaser identified as Allison Fabiano.

- Washington Pool: feasibility study proposed at $25,000; staff said pool will require several million dollars in repairs over the next five years to meet codes.

- Golf carts: Harris provides and maintains carts; Yamaha provides financing. Staff said per-cart pricing rose modestly; a committee member estimated in-house storage could save “about $21,000 over six years,” but staff said purchases and maintenance costs make in-house ownership uncertain.

- Parking-lot lease: Lease continues previous terms with Angry Bob Sports Bar LLC; staff said the city retains the option to sell with notice and that keeping the parcel preserves leverage for potential larger redevelopment.

Meeting context and follow-up

The meeting handled a large consent-style package of financing and administrative items with limited extended debate. Staff committed to forwarding the HOME amendment to the U.S. Department of Housing and Urban Development if approved by council. The committee asked for more detail on the vacant-property report at a future meeting and confirmed the corrected funding amounts for the CIP amendment.

Ending

Items approved by the Finance Committee will go to the full City Council as required for final approval or to state/federal agencies where external approvals are required (for example, the HOME amendment to HUD). The committee scheduled no additional special hearings on these items during the April 21 session.