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A G E N D A CITY OF WAUPUN JOINT REVIEW BOARD
Waupun City Hall – 201 E. Main Street, Waupun WI Tuesday, June 25, 2019 at 1:00 PM
CALL TO ORDER APPOINTMENT OF PUBLIC MEMBER APPOINTMENT OF CHAIRPERSON ROLL CALL TAX INCREMENTAL DISTRICTS TO BE REVIEWED As required by Wisconsin State Statutes 66.1105(4m)(f), Review the Annual PE-300 Reports detailing the performance and status of each Tax Incremental District (“TID”), as filed with the Wisconsin Department of Revenue by the City, for the following TIDs. 1. Presentation of Annual Report for TID 1,3,5,6 and 7 2. TID 3 (Fond du Lac & Dodge Counties, Moraine Park Technical College & Waupun Area School District) 3. TID 6 (Fond du Lac & Dodge Counties, Moraine Park Technical College & Waupun Area School District) 4. TID 1 (Dodge County, Moraine Park Technical College & Waupun Area School District) 5. TID 5 (Dodge County, Moraine Park Technical College & Waupun Area School District) 6. TID 7 (Dodge County, Moraine Park Technical College & Waupun Area School District) ACCEPTANCE OF THE ANNUAL REPORTS 7. Staff Summary of Annual Report of TID 1,3,5,6 and 7 ADJOURNMENT
Upon reasonable notice, efforts will be made to accommodate disabled individuals through appropriate aids and services. For additional information, contact the City Clerk at 920-324-7915.
1
JRB Annual Meeting
TID 1, 3, 5, 6 and 7 June 25, 2019
2
2018 5 Active TIDs
3
AGENDA
AGENDA
1. TID Overview
2. TID Financial Report
3. TID Notes
SEQUENCE
1. Dodge & Fond du Lac County
a. TID 3
b. TID 6
2. Dodge County
a. TID 1
b. TID 5
c. TID 7
4
TID 3 OVERVIEW
• Downtown Business District
– Fond du Lac and Dodge Counties
• Created 2005
– Mixed Use
– Blighted
– Amended 2012 (2nd)
• Expenditure Period Ends- 2027
• Share with TID 6
5
TID 3: Financial Data
Notes Community Development
Authority CDA grants for downtown building
improvements
Streetscaping
Future Planned Projects Opportunity to leverage tax credits
through Historic District/Preservation
Streetscaping – Quality of Place
Targeted building renovations/façade improvements
Targeted industrial/commercial development
Dodge Fond du Lac
Base Value $ 7,038,800 $ 10,263,700
Incremental Value 1,016,000 2,813,800
Beginning of Year Fund Balance $ (590,501)
Revenues $ 138,160
Expenses $ 43,508
Year-End Fund Balance $ (495,849)
Projected Revenues $ 2,199,271
Projected Costs $ 1,608,153
Surplus $ 95,269
Project Closure 5/31/2032
Final Revenue Year 2033 (based on current cash flow)
6
TID 6: OVERVIEW
• West Side
– Fond du Lac and Dodge Counties
• Created 2012
– Mixed Use
– Blighted
– Amended 2012
• Expenditure Period Ends - 2034
• Share with TID 3
7
TID 6: Financial Data
Dodge Fond du Lac
Base Value $ 5,180,600 $ 9,154,600
Incremental Value 4,775,900 (1,458,300)
Beginning of Year Fund Balance $ (554,174)
Revenues $ 123,341
Expenses $ 113,736
Year-End Fund Balance $ (544,569)
Projected Revenues $ 3,183,385
Projected Costs $ 2,517,467
Surplus $ 121,349
Project Closure 8/21/2039
Final Revenue Year 2040
(based on current cash flow)
Notes
2018 Expenditures Debt service contributions
related to Aquatic Facility
Interest on advances
Future Planned Projects Public Infrastructure
Development Funds
Borrow to TID 3
8
TID 1: OVERVIEW
• Waupun Industrial Park
– Dodge County
• Created 1987
– Industrial
– Amended 2011 (2nd)
– Distressed
• No new project expenses
– Projected to Close Early - 2021
9
TID 1: Financial Data
Notes No new construction in
2018
Expenditures Interest and audit expense
only
Dodge
Base Value $ 858,500
Incremental Value 11,281,700
Beginning of Year Fund Balance $ (768,118)
Revenues $ 258,844
Expenses $ 20,917
Year-End Fund Balance $ (530,191)
Projected Revenues $ 782,482
Projected Costs $ 22,950
Surplus $ 229,341
Project Closure 9/30/2021
Final Revenue Year 2021
(based on current cash flow)
10
TID 5: OVERVIEW
• East Side Commercial
– Dodge County
• Created 2008
– Mixed Use
– Amended 2012
– Extension 2018
• Expenditure Period Ends-
2023
11
TID 5: Financial Data
Notes 6 year extension granted in 2018
Completed build out of residential construction in 2018 with ~$2M of assessed value
City funded demolition of old Washington School with new commercial development on site
Summit Credit Union planned for 2020 construction with $1.5M valuation
2018/2019 Expenditures Seymour Street extension
Lot 1 on Mayfair – additional housing development
Dodge
Base Value $ 1,950,300
Incremental Value 10,727,500
Beginning of Year Fund Balance $ (1,747,609)
Revenues $ 610,586
Expenses $ 687,213
Year-End Fund Balance $ (1,824,236)
Projected Revenues $ 7,902,105
Projected Costs $ 6,073,942
Surplus $3,927
Project Closure 9/16/2034
Final Revenue Year 2035
(based on current cash flow)
12
TID 7: OVERVIEW
• East Side Commercial
– Dodge County
• Created 2017
– Mixed Use
– 20 years (2038)
• Expenditure Period Ends-
2033
13
TID 7: Financial Data
Notes 2018 Opening of Heritage Ridge
Travel Plaza and Wild Goose Café (guaranteed $2.4M valuation)
Future Expenditures Marketing/Feasibility Plan
Potential Commercial projects
Potential multi-family project
Extension of Shaler Drive (if warranted)
Dodge
Base Value $ 22,100
Incremental Value 2,127,900
Beginning of Year Fund Balance $ 41,832
Revenues $ 9,505
Expenses $ 187,846
Year-End Fund Balance $ (136,509)
Projected Revenues $ 4,379,672
Projected Costs $ 4,141,103
Surplus $102,060
Project Closure 3/14/2038
Final Revenue Year 2039
(based on current cash flow)
14
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Municipality/TIDDue dateMunicipality
TID number Creation date Mandatory termination date
Report type
TID type
County
TID name Expected termination date
Co-muni code
Section 1 : Beginning Balance
TID fund balance at beginning of fiscal year
14292 WAUPUN DODGE 07012019 ORIGINAL
003 2 TID No 3 05312005 05312032 N/A
$590,501
Section 2. Revenue
Does this TID receive allocated funds from another TID?
Allocation from another TID Allocation amount
No
N/A $0
Subtotal allocation from another TID amount
Developer guarantee name Developer guarantee amount
$0
Whispering Oaks $8,720
Subtotal developer guarantee amount $8,720
Transfer from other fund source Transfer from other fund amount
Subtotal transfer from other fund amount $0
Other grant sources Other grant amount
Subtotal other grant source amount $0
Other revenue sources Other revenue amount
Subtotal other revenue source amount $0
Tax increment
Investment income
Debt proceeds
Special assessments
Exempt computer aid
Sale of property
Total Revenue (deposits)
$121,349
$8,091
$138,160
Page of 1 3
15
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Section 3. Expenditures
Developer grant name Developer grant amount
N/A $0
Subtotal developer grant amount
Does this TID allocate funds to another TID?
Allocation to another TID Allocation amount
$0
No
N/A $0
Subtotal allocation to another TID $0
Transfer to other fund name Transfer to other fund amount
Subtotal transfer to other fund amount $0
Other expenditure name Other expenditure amount
Subtotal other expenditures amount $0
Capital expenditures
Administration
Professional services
Interest and fiscal charges
DOR fees
Discount on long-term debt
Debt issuance costs
Principal on long-term debt
Environmental costs
Real property assembly costs
Total Expenditures
$22,643
$1,251
$19,464
$150
$43,508
Section 4. Ending Balance
TID fund balance at end of fiscal year
Future costs
Future revenue
Surplus or deficit
$495,849
$1,608,153
$2,199,271
$95,269
Page of 2 3
16
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Preparer/Contact Information
Preparer name
Contact name
Preparer phone
Contact phone
Preparer title
Preparer email
Contact title
Contact email
Jared Oosterhouse Finance Director
(920) 324[email protected]
Jared Oosterhouse Finance Director
(920) 324[email protected]
You successfully submitted your form. Save and/or print a copy for your records.
Co-muni code
TID number
Recording time
Confirmation
Submission Information
Submission type
14292
003
06132019 02:05 PM
TIDAR201814292O1558540038959
ORIGINAL
Page of 3 3
17
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Municipality/TIDDue dateMunicipality
TID number Creation date Mandatory termination date
Report type
TID type
County
TID name Expected termination date
Co-muni code
Section 1 : Beginning Balance
TID fund balance at beginning of fiscal year
14292 WAUPUN DODGE 07012019 ORIGINAL
006 2 N/A 08212012 08212039 N/A
$544,569
Section 2. Revenue
Does this TID receive allocated funds from another TID?
Allocation from another TID Allocation amount
No
N/A $0
Subtotal allocation from another TID amount
Developer guarantee name Developer guarantee amount
$0
Subtotal developer guarantee amount $0
Transfer from other fund source Transfer from other fund amount
Subtotal transfer from other fund amount $0
Other grant sources Other grant amount
Subtotal other grant source amount $0
Other revenue sources Other revenue amount
Refund Prior Year Expense $8,744
Subtotal other revenue source amount $8,744
Tax increment
Investment income
Debt proceeds
Special assessments
Exempt computer aid
Sale of property
Total Revenue (deposits)
$123,592
$4,832
$137,168
Page of 1 3
18
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Section 3. Expenditures
Developer grant name Developer grant amount
N/A $0
Subtotal developer grant amount
Does this TID allocate funds to another TID?
Allocation to another TID Allocation amount
$0
No
N/A $0
Subtotal allocation to another TID $0
Transfer to other fund name Transfer to other fund amount
Subtotal transfer to other fund amount $0
Other expenditure name Other expenditure amount
Subtotal other expenditures amount $0
Capital expenditures
Administration
Professional services
Interest and fiscal charges
DOR fees
Discount on long-term debt
Debt issuance costs
Principal on long-term debt
Environmental costs
Real property assembly costs
Total Expenditures
$50,500
$7
$964
$17,810
$150
$69,431
Section 4. Ending Balance
TID fund balance at end of fiscal year
Future costs
Future revenue
Surplus or deficit
$476,832
$2,210,923
$2,717,061
$29,306
Page of 2 3
19
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Preparer/Contact Information
Preparer name
Contact name
Preparer phone
Contact phone
Preparer title
Preparer email
Contact title
Contact email
Jared Oosterhouse Finance Director
(920) 324[email protected]
Jared Oosterhouse Finance Director
(920) 324[email protected]
You successfully submitted your form. Save and/or print a copy for your records.
Co-muni code
TID number
Recording time
Confirmation
Submission Information
Submission type
14292
006
06132019 02:14 PM
TIDAR201814292O1558547319064
ORIGINAL
Page of 3 3
20
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Municipality/TIDDue dateMunicipality
TID number Creation date Mandatory termination date
Report type
TID type
County
TID name Expected termination date
Co-muni code
Section 1 : Beginning Balance
TID fund balance at beginning of fiscal year
14292 WAUPUN DODGE 07012019 ORIGINAL
001 1D TID No 1 09301987 09302024 09302021
$768,118
Section 2. Revenue
Does this TID receive allocated funds from another TID?
Allocation from another TID Allocation amount
No
N/A $0
Subtotal allocation from another TID amount
Developer guarantee name Developer guarantee amount
$0
Subtotal developer guarantee amount $0
Transfer from other fund source Transfer from other fund amount
Subtotal transfer from other fund amount $0
Other grant sources Other grant amount
Subtotal other grant source amount $0
Other revenue sources Other revenue amount
Subtotal other revenue source amount $0
Tax increment
Investment income
Debt proceeds
Special assessments
Exempt computer aid
Sale of property
Total Revenue (deposits)
$257,778
$1,066
$258,844
Page of 1 3
21
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Section 3. Expenditures
Developer grant name Developer grant amount
N/A $0
Subtotal developer grant amount
Does this TID allocate funds to another TID?
Allocation to another TID Allocation amount
$0
No
N/A $0
Subtotal allocation to another TID $0
Transfer to other fund name Transfer to other fund amount
Subtotal transfer to other fund amount $0
Other expenditure name Other expenditure amount
Subtotal other expenditures amount $0
Capital expenditures
Administration
Professional services
Interest and fiscal charges
DOR fees
Discount on long-term debt
Debt issuance costs
Principal on long-term debt
Environmental costs
Real property assembly costs
Total Expenditures
$964
$19,803
$150
$20,917
Section 4. Ending Balance
TID fund balance at end of fiscal year
Future costs
Future revenue
Surplus or deficit
$530,191
$22,950
$782,482
$229,341
Page of 2 3
22
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Preparer/Contact Information
Preparer name
Contact name
Preparer phone
Contact phone
Preparer title
Preparer email
Contact title
Contact email
Jared Oosterhouse Finance Director
(920) 324[email protected]
Jared Oosterhouse Finance Director
(920) 324[email protected]
You successfully submitted your form. Save and/or print a copy for your records.
Co-muni code
TID number
Recording time
Confirmation
Submission Information
Submission type
14292
001
06132019 01:56 PM
TIDAR201814292O1559760067754
ORIGINAL
Page of 3 3
23
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Municipality/TIDDue dateMunicipality
TID number Creation date Mandatory termination date
Report type
TID type
County
TID name Expected termination date
Co-muni code
Section 1 : Beginning Balance
TID fund balance at beginning of fiscal year
14292 WAUPUN DODGE 07012019 ORIGINAL
005 6 N/A 09162008 09162034 N/A
$1,747,609
Section 2. Revenue
Does this TID receive allocated funds from another TID?
Allocation from another TID Allocation amount
No
N/A $0
Subtotal allocation from another TID amount
Developer guarantee name Developer guarantee amount
$0
Marshview Hospitality, LLC $25,482
Subtotal developer guarantee amount $25,482
Transfer from other fund source Transfer from other fund amount
Transfer from General Fund $230,000
Subtotal transfer from other fund amount $230,000
Other grant sources Other grant amount
Subtotal other grant source amount $0
Other revenue sources Other revenue amount
Subtotal other revenue source amount $0
Tax increment
Investment income
Debt proceeds
Special assessments
Exempt computer aid
Sale of property
Total Revenue (deposits)
$260,022
$767
$94,315
$610,586
Page of 1 3
24
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Section 3. Expenditures
Developer grant name Developer grant amount
N/A $0
Subtotal developer grant amount
Does this TID allocate funds to another TID?
Allocation to another TID Allocation amount
$0
No
N/A $0
Subtotal allocation to another TID $0
Transfer to other fund name Transfer to other fund amount
Subtotal transfer to other fund amount $0
Other expenditure name Other expenditure amount
Subtotal other expenditures amount $0
Capital expenditures
Administration
Professional services
Interest and fiscal charges
DOR fees
Discount on long-term debt
Debt issuance costs
Principal on long-term debt
Environmental costs
Real property assembly costs
Total Expenditures
$238,316
$4,899
$6,590
$140,683
$150
$296,575
$687,213
Section 4. Ending Balance
TID fund balance at end of fiscal year
Future costs
Future revenue
Surplus or deficit
$1,824,236
$6,073,942
$7,902,105
$3,927
Page of 2 3
25
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Preparer/Contact Information
Preparer name
Contact name
Preparer phone
Contact phone
Preparer title
Preparer email
Contact title
Contact email
Jared Oosterhouse Finance Director
(920) 324[email protected]
Jared Oosterhouse Finance Director
(920) 324[email protected]
You successfully submitted your form. Save and/or print a copy for your records.
Co-muni code
TID number
Recording time
Confirmation
Submission Information
Submission type
14292
005
06132019 02:11 PM
TIDAR201814292O1558544336143
ORIGINAL
Page of 3 3
26
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Municipality/TIDDue dateMunicipality
TID number Creation date Mandatory termination date
Report type
TID type
County
TID name Expected termination date
Co-muni code
Section 1 : Beginning Balance
TID fund balance at beginning of fiscal year
14292 WAUPUN DODGE 07012019 ORIGINAL
007 6 TID No 7 03142017 03142038 N/A
$41,832
Section 2. Revenue
Does this TID receive allocated funds from another TID?
Allocation from another TID Allocation amount
No
N/A $0
Subtotal allocation from another TID amount
Developer guarantee name Developer guarantee amount
$0
Subtotal developer guarantee amount $0
Transfer from other fund source Transfer from other fund amount
Subtotal transfer from other fund amount $0
Other grant sources Other grant amount
Subtotal other grant source amount $0
Other revenue sources Other revenue amount
Subtotal other revenue source amount $0
Tax increment
Investment income
Debt proceeds
Special assessments
Exempt computer aid
Sale of property
Total Revenue (deposits)
$0
$9,505
$9,505
Page of 1 3
27
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Section 3. Expenditures
Developer grant name Developer grant amount
N/A $0
Subtotal developer grant amount
Does this TID allocate funds to another TID?
Allocation to another TID Allocation amount
$0
No
N/A $0
Subtotal allocation to another TID $0
Transfer to other fund name Transfer to other fund amount
Subtotal transfer to other fund amount $0
Other expenditure name Other expenditure amount
Subtotal other expenditures amount $0
Capital expenditures
Administration
Professional services
Interest and fiscal charges
DOR fees
Discount on long-term debt
Debt issuance costs
Principal on long-term debt
Environmental costs
Real property assembly costs
Total Expenditures
$121,192
$914
$65,590
$150
$187,846
Section 4. Ending Balance
TID fund balance at end of fiscal year
Future costs
Future revenue
Surplus or deficit
$136,509
$4,141,103
$4,379,672
$102,060
Page of 2 3
28
FormWI Dept of Revenue TID Annual ReportPE-300
2018
Preparer/Contact Information
Preparer name
Contact name
Preparer phone
Contact phone
Preparer title
Preparer email
Contact title
Contact email
Jared Oosterhouse Finance Director
(920) 324[email protected]
Jared Oosterhouse Finance Director
(920) 324[email protected]
You successfully submitted your form. Save and/or print a copy for your records.
Co-muni code
TID number
Recording time
Confirmation
Submission Information
Submission type
14292
007
06132019 02:18 PM
TIDAR201814292O1559759193057
ORIGINAL
Page of 3 3
29
AGENDA SUMMARY SHEET MEETING DATE: 06/25/2019 TITLE: ACCEPTANCE OF THE ANNUAL REPORTS
AGENDA SECTION: TAX INCREMENTAL DISTRICTS TO BE REVIEWED
PRESENTER: Kathy Schlieve, Administrator and Michelle Kast, Accountant
DEPARMTENT GOAL(S) SUPPORTED (if applicable) FISCAL IMPACT
ISSUE SUMMARY: Accept the Annual Reports (form PE-300) detailing the performance and status of each Tax Incremental District, as filed with the Wisconsin Department of Revenue STAFF RECOMENDATION: ATTACHMENTS: Annual Report of TID 1 Annual Report of TID 3 Annual Report of TID 5 Annual Report of TID 6 Annual Report of TID 7
RECOMMENDED MOTION: Motion to accept the annual reports for TID 1, 3, 5, 6, and 7
30
