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Ashwaubenon review board receives TID No. 5 report; district remains in the red through its life
Summary
The joint review board received and accepted the annual report for Ashwaubenon TID No. 5 on June 2. Staff said the district is operating in the red because of upfront acquisition and incentive costs, will likely remain open until about 2041–2042, and that non‑incentivized private projects have improved increment growth.
The joint review board for taxing districts Nos. 3 and 5 in the village of Ashwaubenon voted June 2 to receive and accept the annual report for Tax Increment District No. 5.
Presenter Brett Wien said TID No. 5 is “a little bit different” than TID No. 3 and is currently operating in the red because of large upfront costs related to land acquisition and incentives. Wien told the board the district does not close until around 2041–2042 and that staff will “ride it out” while increment grows and debt service payments come offline.
Wien noted that some non‑incentivized projects have helped the district’s value, and he cited hotel development as an example that could add significant value quickly. He specifically named a Home2 Suites project, which he said was a $10,000,000 development that added value without cost to the district.
The board moved to receive and accept the TID No. 5 annual report; the motion was seconded and passed by voice vote. No roll‑call tally was recorded.
