Village board backs expansion of TIF 5 boundary
Property to include area of new baseball stadium, expo center
By Kevin Boneske
ASHWAUBENON – The village’s Tax Incremental Financing No. 5 district boundary is now one step away from expanding with 13 additional parcels.
The amendment to TIF No. 5 includes the site of a new baseball stadium for the Green Bay Bullfrogs and the site where a new expo center is proposed.
The amendment received the backing Tuesday, March 27, from the Ashwaubenon Village Board.
TIF No. 5, which was created by the village Feb. 25, 2014, as a “blight elimination district,” is located between South Oneida Street and South Ashland Avenue.
The resolution to amend the district notes, “Not less than 50 percent by area of the real property within the district is a blighted area in need of rehabilitation or conservation work” as defined by state statutes.
The amended district would add lots to the north near the intersection of Lombardi Avenue and South Oneida Street in the area where the current Brown County Veterans Memorial Arena is located and a new expo center is proposed, as well as lots to the south along Holmgren Way extending to Cormier Road in an area where the new baseball stadium is planned.
“Essentially, we’re adding the land next to village hall (to the south) for the baseball stadium (and) the (two) parcels across the street (from the village hall) – one of them vacant, the building is vacant,” said Village Manager Allison Swanson. “We’re also adding the Capital Credit Union property, because they have retained a portion of property that’s in (the) TIF that would join with their existing property. And the area around the expo center (and) Resch Center, we need to access TIF funds for any type of private development that may be added to the Expo project for potential roads or other utility improvements that may be needed in that area.”
Swanson said the project plan for the district amendment estimates approximately $141 million in additional property value will be generated with the TIF district over its life through 2041.
That plan also notes the projects currently approved and anticipated projects, which have been spurred by land acquisition and demolition by the village upon the TIF No. 5 being created, already total approximately $90 million.
Project expenditures, according to the project plan, originally were $16,617,500 during the district’s expenditure period. Another $11 million in expenditures are being added with the amendment for expenses related to the construction of a baseball stadium and exposition hall along with related amenities and ancillary uses.
Tax revenue raised from new property value created in the TIF district, Swanson said, would be able to be used for improvements made in the district, such as road or utility work.
Instead of the additional property tax revenue being split among the various taxing entities in Ashwaubenon, she noted that money would go toward paying off the TIF debt.
Swanson said the TIF No. 5 amendment will be presented for final approval April 3 to the Joint Review Board, which consists of representatives of each of the property taxing entities – village of Ashwaubenon, Ashwaubenon School District, Brown County and NWTC – as well as a public member.
“If they approve, the TIF amendment would actually go into place Jan. 1, 2018, so long as we have approval before Oct. 1,” Swanson said. “It would be retroactive to the first of the year.”