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Finance director reports limited increments, outstanding MRO for Ava Manor TID
Summary
At the June 24 Joint Review Board meeting, Pleasant Prairie staff reported TID No. 4 (Ava Manor) had a 2025 increment of $57,003.62 and an outstanding Municipal Revenue Obligation (MRO) balance of roughly $1.1 million; the board unanimously moved to receive and file the annual report.
Cathy, the village finance director, told the Joint Review Board that Tax Increment District No. 4 (Ava Manor), a blight-elimination district created Sept. 24, 2007, generated $57,003.62 in tax increment for 2025.
"TID number 4, as Tom mentioned, is a blight elimination TID. Its increment for 2025 was $57,003.62," Cathy said during her presentation. She noted a personal property aid payment of $2.93 and annual state filing fees.
Cathy said the district’s Municipal Revenue Obligation (MRO) has accrued interest at about 9.75% and the current MRO balance is approximately $1,100,000. She reported the district has collected about $306,000 in increment over 17 years and that future increments through the TID’s termination in 2034 will cover interest but will not fully repay the MRO principal.
The board had no questions and moved to receive and file the TID No. 4 annual report. The motion, moved by Ralph Bellaview and seconded by Patricia (Patty) Merle, passed unanimously.
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