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Sheboygan committee approves TID 23 development agreement amid affordability and statutory concerns
Summary
Sheboygan City’s Finance and Personnel Committee approved a tax-incremental district development agreement for TID 23 with Timberwood Metals LLC after public commenters raised FOIA, affordability and statutory concerns and developers said affordability mandates would make financing infeasible.
The Sheboygan City Finance and Personnel Committee voted to approve a tax-incremental district (TID 23) development agreement with Timberwood Metals LLC after public commenters warned the plan would deliver predominantly market-rate housing and raise long-term costs for the city.
In public comment, Lisa Salgado said, “The city has still not released Pelton's proforma as requested by FOIA request several weeks ago,” and argued the project would deliver housing Sheboygan residents could not afford. Peter Jacobs urged the committee “to not approve the TID 23 development agreement,” saying the proposal “violates Wisconsin statutes,” would subsidize a speculative development, and—he alleged—would commit the city to roughly $100 million in obligations and transfer title to about 195 acres at no cost to the developer.
Developer representatives, including Luke Pelton and Devin Coy, told the committee they had revisited the project following the committee’s earlier request for…
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