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Slinger Redevelopment Authority approves up to $15.5M in lease‑revenue bonds to fund police facility
Summary
The Slinger Redevelopment Authority voted April 2 to authorize up to $15,500,000 in redevelopment lease‑revenue bonds to fund a new police department building; residents raised questions at a public hearing about structuring a municipal building on leased land, and officials said the structure preserves the Village’s general obligation debt capacity.
The Slinger Redevelopment Authority voted April 2 to approve a resolution authorizing up to $15,500,000 in redevelopment lease‑revenue bonds to finance a new police department building, after a public hearing at which residents asked why the project is being structured as a lease.
President Scott Stortz invoked the public hearing and fielded questions from residents. “Building a municipal building on leased land was a big mistake,” resident Gilbert Kuzera said during public comment, asking why the RDA‑lease model was being used. Stortz responded that the Village already owns the property and that transferring control to the RDA for the bond transaction would allow a longer debt term than the usual 20 years and keep the project under Village‑related control throughout the process.
Harry Allen of Ehlers, who presented the financing plan, said the authority will use a Lease Revenue Bond structure to fund the police department project. Allen said the approach would “preserve the Village’s general obligation debt capacity” and allow the debt to be repaid over a longer period, which village officials said should reduce the impact to the Village’s tax rate. Allen also explained that the Village’s lease payment would match the annual debt service and could be levied as part of the Village’s available levy adjustment.
Resident Jennie Stonehouse asked about the estimated cost and timing for the next phase — relocating the library into the current Village Hall and police building. Stortz said the Library is still developing a capital campaign and that cost estimates are being calculated.
The RDA approved Resolution #R03-01-2025, which the minutes describe as approving acquisition of real property, a lease with the Village of Slinger, and the issuance and parameter terms for Redevelopment Lease Revenue Bonds not to exceed $15,500,000 (Series 2025A). Allen told the authority the bonds were proposed to be listed for sale on or about April 15, with an estimated closing on or about May 7; the minutes state land transfer from the Village to the RDA would take place sometime in May and that a groundbreaking was expected in early May.
Dean Otte moved and Dianne Retzlaff seconded the motion to approve the resolution; the motion passed. The minutes do not record individual vote tallies. Earlier in the meeting, the board also approved minutes from Nov. 6, 2024 (motion by Dean Otte, second by Sherry Schaefer). The meeting adjourned at 9:00 a.m.
Next procedural steps listed in the minutes: list the bonds for sale (on or about April 15), estimated closing (on or about May 7), land transfer in May, and completion of the lease after closing. The minutes do not include detailed vote counts or final bond pricing.
