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New London JRB appoints public member and chair, reviews TID 5 amendment and proposed TID 7
Summary
The New London Joint Review Board approved appointments to its membership and reviewed a proposed amendment to TID 5 to add two parcels for a condominium project and a proposed new TID 7 to support an Aldi and related infrastructure. Presenters warned of a financing shortfall for TID 7 that could require borrowing or a future levy if development does not occur.
The New London Joint Review Board on an initial review agreed to appoint Christie Dorsey as a public member and to name Julia Ratke chair, and reviewed a draft amendment to Tax Incremental District (TID) 5 and a proposal to create TID 7.
At the start of the meeting, the board approved the appointment of Christie Dorsey (moved by Dave; seconded by Joe) and then appointed Julia Ratke as chair (moved by Dave; seconded by Kristi). Both motions carried on recorded “Aye” votes. The meeting record does not attach full surnames or office titles to all votes beyond the stated mover and seconder.
During the substantive review, a presenter identified only by the transcript as Speaker 3 described the TID 5 amendment as adding two parcels on the south side of the existing district—stated in the meeting record as about 0.884 acres—to support a proposed condominium development by Breezewood Builders. The presenter said most of the project plan is a reconciliation of prior actual costs with earlier estimates: the original plan estimate for the district had been about $2,800,000, actual spending to date was reported at about $3,300,000, and the amendment…
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