September 14, 2026 Planning Commission Meeting

Meeting AgendaMeeting AgendaMeeting Agenda Fredonia Planning CommissionFredonia Planning CommissionFredonia Planning Commission ADMINISTRATOR CHRISTOPHE E. JENKINS CLERK MICHELLE T. JOHNSON DPW DIRECTOR ERIC PAULUS FIRE CHIEF BRIAN WEYKER MARSHAL ERIC LEET TREASURER JULIE UPSON Chairman Peter Lenz Commissioners Timothy Barta Blake Buvid Jessica Franck Hal Steffen Geriann Weiland Jake Winker Monday, September 14 , 2026 at 7:00PMth Fredonia Government Center board room 242 Fredonia Ave, Fredonia WI 53021 The following business will be before the PlanNing Commission for initiation, discussion, consideration, deliberation, and possible formal action. 1. cALL TO oRDEr 2. pLEDGE OF aLLEGIANCE/ ROLL CALL 3. Public comment Please note that public comments are limited to 5 minutes per person. 4. Consent Agenda: a. Approve Minutes of the August 3 , 2026 Planning Commission Meeting. rd 5.Public Hearing a. A Public Hearing to Hear Public Comment on and Reaction to a an Amendment to the Project Plan and Boundaries of Tax Incremental District No. 3.” b. Motion to Close the Public Hearing 6. Items for action and/or discussion a. Discussion and Possible Action on Resolution 2026-10 Approving an Amendment to the Project Plan and Boundaries of Tax Incremental District No. 3. b. Motion to Recommend to the Village Board of Trustees Approval of CSM 2026-02, Combining Parcels #090351501600 and #090351501500. Applicant: Smiley Properties, LLC Agent: Eric Ott, J.E. Arthur and Associates Address: 760 Tower Dr. & Contiguous Vacant Lot Our Mission: “We are a proactive and results- oriented community, continuously moving forward and planning for the future. We are committed to responsibly serving our community and embracing new ideas. By developing and supporting a quality growth strategy, we strive to deliver exceptional services and foster a thriving environment for the betterment of the Village.” Our Vision: “Our vision for the Village of Fredonia is to cultivate a sense of pride among its residents, promoting a vibrant community where people can live, work, and gather. We envision a municipality that experiences continual and steady growth, both in terms of infrastructure and economic opportunities. Our goal is to create an inviting and thriving environment that attracts individuals, families, and businesses, making the Village of Fredonia a place where people can build meaningful lives and contribute to its prosperous future.” 7. Correspondence 8. Items for Future Consideration 9. Motion to Adjourn NOTICE IS HEREBY GIVEN that a majority of the Fredonia Village Board may attend this meeting in order to gather information about a subject over which they have decision- making responsibility. UPON REASONABLE NOTICE, efforts will be made to accommodate the needs of disabled individuals through appropriate aids and services. For additional information or to request this service, contact the village clerk at (262) 692-9125. You are invited to a Zoom meeting. When: Sep 14, 2026 07:00 PM Central Time (US and Canada) Register in advance for this meeting: https://us02web.zoom.us/meeting/register/UZ6B3MFdT2 esu8_dPYPqjg After registering, you will receive a confirmation email containing information about joining the meeting. WARNING: SCAM ALERT The Village of Fredonia is aware of a scam in which fraudulent invoices are sent to applicants shortly after Planning Commission or Board of Appeals agendas are posted. These invoices may appear to be from the Village and may contain legitimate applicant information, but they are fraudulent and are not issued by the Village of Fredonia. Please be advised that the Village will never email an invoice or request payment by wire transfer, electronic transfer, or payment to an unfamiliar account. If you receive an invoice or payment request that appears to be from the Village, do not send payment or provide financial information. Please contact the Village of Fredonia directly to verify any payment request before acting. Our doors are Always open! Do you have a question or concern? We want to hear from you. All elected officials are accessible via email through the Village Board page on the Village’s website. Follow us on Facebook, check out our website, sign up e-notifications, call or stop by Village Hall to stay informed! 242 Fredonia Ave. PO Box 159 Fredonia, WI 53021 (262) 692-9125 www.fredoniawi.gov Mon-Thurs 8AM-4PM Fri 8 AM-12PM StrategicStrategic PrioritiesPriorities Strategic Priorities Responsible Fiscal Policy Communication & Collaboration Strong Sense of Community F REDONIA PLANNING COMMISSION MEETING MINUTES MONDAY, August 3rd, 2026- 7:00 P.M. Fredonia Government Center – Village Board Room 242 Fredonia Avenue, Fredonia, Wisconsin 1. C hairman Lenz called the meeting to order at 7:00PM, followed by the Pledge of Allegiance. 2. M embers Present: Chairman Lenz, Commissioner Franck, Commissioner Weiland, Commissioner Barta, Commissioner Buvid, Commissioner Steffen Members Excused: Commissioner Winker Staff Present: Administrator Jenkins 3. P ublic Comment: None 4. M otion to Approve Minutes from Monday, July 13th, 2026, Planning Commission Meeting made by Commissioner Franck. Seconded by Commissioner Weiland. Passed by 6-0 voice vote. 5. P ublic Hearing: a) A Public Hearing to Hear Public Comment on and Reaction to a Conditional Use Permit Application. Applicant: Jeremy Gasiorowski Agent: Same Address: 233 Innovation Dr., Fredonia, WI 53021 No comment was made. b) Motion to Close the Public Hearing made by Commissioner Buvid. Seconded by Commissioner Steffen. Passed by 6-0 voice vote 6. I tems for Action and/or Discussion a) Discussion and Possible Action on a Conditional Use Permit Application. Applicant: Jeremy Gasiorowski Agent: Same Address: 233 Innovation Dr., Fredonia, WI 53021 VILLAGE OF FREDONIA Find Your Moments Here Administrator Jenkins shared that the permit does not exclusively list Mr. Gasiorowski’s potential uses, the permit simply allows uses that require a permit. Commissioner Steffen asked if Mr. Gasiorowski had private by- laws he plans to enforce. Administrator Jenkins responded that the property is subject to municipal ordinances, but if the Commission would like to impose stricter conditions, including those conditions in the permit would be appropriate. Commissioner Steffen would like to see lease agreements. Motion to Approve a Conditional Use Permit for Jeremy Gasiorowski, 233 Innovation Drive made by Commissioner Steffen. Seconded by Commissioner Buvid. Passed by 6-0 voice vote. b) Motion to Set a Public Hearing to Hear Public Comment on and Reaction to an Amendment to TID #3 Boundaries on September 14 th, 2026 at 7:00P.M. made by Commissioner Franck. Seconded by Commissioner Barta. Administrator Jenkins shared that Badger Paper Board is expanding their footprint in the industrial park. They own two parcels, and plan to merge the parcels to accommodate the expanded building. The TID boundaries must be amended to match the new parcel and capture the additional increment. There are no drawbacks to the requested amendment. Passed by 6-0 voice vote. 7. Correspondence: None 8. Items for Future Consideration: None 9. Motion to Adjourn made Commissioner Weiland. Seconded by Commissioner Franck. Passed by 6-0 voice vote. Meeting adjourned at 7:21P.M. NOTICE OF PUBLIC HEARING AND JOINT REVIEW BOARD MEETING VILLAGE OF FREDONIA, WISCONSIN NOTICE IS HEREBY GIVEN that the Village of Fredonia will hold a Joint Review Board meeting on September 3, 2026, at 6:00 PM at the Fredonia Village Hall, located at 242 Fredonia Avenue. The purpose of the meeting is to organize the Joint Review Board for consideration of the Village’s proposal to amend Tax Incremental District No. 3. The Joint Review Board will also review the annual report and the performance and status of Tax Incremental District No. 3 as required by Wis. Stat. § 66.1105(4m)(f). N OTICE IS HEREBY GIVEN that the Plan Commission of the Village of Fredonia will hold a public hearing on September 14, 2026, at 7:00 PM at the Fredonia Village Hall, located at 242 Fredonia Avenue. The hearing will be held to provide the public a reasonable opportunity to comment on the proposed amended boundaries of Tax Incremental District No. 3, and the proposed amendment to its Project Plan. The proposed amendment would add territory to the District as permitted under Wisconsin Statutes Section 66.1105(4)(h)2. The District’s proposed amended boundary is identified on the map included in this Notice. Bas ed on the planned use of properties within its boundaries at time of creation, territory within the District was previously identified as suitable for industrial development. Projects to be undertaken within the District and costs to be incurred (Project Costs) will continue to be for the purpose of promoting industrial development and include acquisition of property, rights of way or easements, site preparation, installation or rehabilitation of utilities and streets, payment of cash grants as development incentives to owners, lessees, or developers of land located within the District, professional services and organizational costs, administrative costs, financing costs and other costs as may be necessary to implement the District’s Project Plan. Projects may be undertaken within the District’s proposed boundary and in areas located in the Village within ½ mile of that boundary. This Amendment does not change the list of estimated Project Costs or cost estimates in the current Project Plan. A ll interested parties will be given a reasonable opportunity to comment on Existing TIO No. J BolJ!d.yy O!l-01$-ll-000.02 l0.17 Aaco o,-<11s-1• -to•.00 l.•s .1c-a. ·-· 0►035• Jg.oe,u,o 4 ,l5- .... "◄n-•4•000 .01 e.3 SA<1• VILLAGE OF FREDONIA TIO NO. 3 PRELIMINARY MAP OF PROPOSED DISTRICT BOUNDARIES AS OF JANUARY 1, 2026 VILLAGC OF ~RCDONIA OZAUKEE COUNTY, WISCONSIN -., o, -0n•11..i05.oo 1'.fl A<,.,s ·-· Ot·0)5· l ~007 .to0 -~- ··-09-0»'·11-00).00 :;; STRAND A$ $0C IATE$ the proposed amended boundaries of the Di strict and the proposed amendment to its Project Plan. A copy of the proposed amendment to the District’s Project Plan, including a description of the proposed amended boundary, is available for public inspection and will be provided on request during normal business hours at the office of the Village Clerk at the Fredonia Village Hall, located at 242 Fredonia Avenue. By Order of the Village of Fredonia, Wisconsin Published August 27, 2026, and September 3, 2026 Village of Fredonia, Wisconsin Tax Incremental District No. 3 Plan Commission Resolution RESOLUTION 2026-10 RESOLUTION APPROVING AN AMENDMENT TO THE PROJECT PLAN AND BOUNDARIES OF TAX INCREMENTAL DISTRICT NO. 3 WHEREAS, the Village of Fredonia (the “Village”) has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the Village; and WHEREAS, Tax Incremental District No. 3 (the “District”) was created by the Village on July 15, 2021; and WHEREAS, the Village now desires to amend the Project Plan of the District (the “Amendment”) in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, such Amendment will: a. Add territory to the District as permitted under Wisconsin Statutes Section 66.1105(4)(h)2. b. Amend the categories, locations, or costs of project costs to be made as permitted under Wisconsin Statutes Section 66.1105(4)(h)1. WHEREAS, an amended Project Plan for the District (the “Amendment”) has been prepared that includes: a. A statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map, building codes and Village ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the District promotes the orderly development of the Village; k. An opinion of the Village Attorney or of an attorney retained by the Village advising that the plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f); and WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to the chief executive officers of Ozaukee County, the Northern Ozaukee School District, and the Milwaukee Area Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan Commission, on September 14, 2026 held a public hearing concerning the proposed amended boundaries Village of Fredonia, Wisconsin Tax Incremental District No. 3 Plan Commission Resolution of the District and the proposed amendment to its Project Plan, providing interested parties a reasonable opportunity to express their views thereon. NOW, THEREFORE, BE IT RESOLVED by the Plan Commission of the Village of Fredonia that: 1. It recommends to the Village Board that the boundaries of Tax Incremental District No. 3 be amended with boundaries as designated in Exhibit A of this Resolution. 2. It approves and adopts the amended Project Plan for the District, attached as Exhibit B, and recommends its approval to the Village Board. 3. Amendment of the District’s Project Plan and boundaries promotes orderly development in the Village. Adopted this _____ day of _______________, 2026. Plan Commission Chair Secretary of the Plan Commission Village of Fredonia, Wisconsin Tax Incremental District No. 3 Plan Commission Resolution EXHIBIT A - TAX INCREMENTAL DISTRICT NO. 3 BOUNDARY MAP [INCLUDED IN PROJECT PLAN] Village of Fredonia, Wisconsin Tax Incremental District No. 3 Plan Commission Resolution EXHIBIT B - PROJECT PLAN [DISTRIBUTED SEPARATELY] September 14, 2026 PROJECT PLAN AMENDMENT Village of Fredonia, Wisconsin Tax Incremental District No. 3 Business Park Expansion Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO. ~EHLERS - PUBLIC FINANCE ADVISORS Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 2 KEY DATES Organizational Joint Review Board Meeting Held: September 3, 2026 Public Hearing Held: September 14, 2026 Action by Plan Commission: September 14, 2026 Action by Village Board: September 17, 2026 Action by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary .....................................................................................................................................3 Preliminary Map of Original District Boundary and Territory to be Added........................ 6 Map Showing Existing Uses and Conditions Within the Territory to be Added .............. 8 Preliminary Identification of Parcels to be Added ....................................................................... 10 Equalized Value Test .................................................................................................................................. 11 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District ....................................................................................................... 12 Map Showing Proposed Improvements and Uses Within the Territory to be Added .. 18 Detailed List of Estimated Project Costs ......................................................................................... 20 Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred ........................................................................................................................................................... 21 Annexed Property ..................................................................................................................................... 26 Estimate of Property to be Devoted to Retail Business ........................................................... 26 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and Village Ordinances .................................................................................................................................... 26 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ........................................................................................................................................................................... 27 How Amendment of the Tax Incremental District Promotes the Orderly Development of the Village ................................................................................................................................................ 27 List of Estimated Non-Project Costs ................................................................................................. 28 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ................................................................................................................................................. 29 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions ...................................................... 32 Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 3 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 3 (“District”) was created on July 15, 2021, to pay the costs of land acquisition, installation of public improvements and other costs necessary to promote industrial development in an expansion of the Fredonia Industrial Park. Since creation, the Village has sold all but 15.91 acres of land within the park, and development through January 1, 2026, has generated $ 9,040,700 in new incremental value. A dance studio, and new facilities for Paulsen Mechanical are under construction with completion expected in 2026. Additional construction expected to commence later this year or in 2027 includes an expansion of Meadowlark Storage. In 2026, Badger Paperboard, a custom paperboard converter specializing in packaging and shipping materials, announced plans to expand its manufacturing operations with an $8 million to $10 million addition that will add about 47,000 square feet to its existing facility at 760 Tower Drive . As part of the expansion plan, the company will combine two parcels, one of which is in the District, and one which is out of the District. Since a tax incremental district can only include whole tax parcels, the Village must amend the District’s boundaries to include the parcel currently located outside the District. PURPOSE OF AMENDMENT The purpose of this amendment, referred to hereafter as the Plan, the Amendment, or the Plan Amendment, is to add territory to the District as permitted under Wis. Stat. § 66.1105(4)(h)2. This is the first of four permitted territory amendments available to the District. ESTIMATED TOTAL PROJECT COST EXPENDITURES This Amendment does not modify Project Costs. The original Plan projected total costs of $8. 61 million including an estimated $1.09 million for land acquisition and related expense, $4.6 1M for public infrastructure and related engineering, $2.87M for interest on long -term debt and financing related expense, and $ 53,000 for District administration and other miscellaneous expense. Based on costs incurred to date, and future projections, total Project Costs are anticipated to be approximately $7.73 million. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 4 INCREMENTAL VALUATION Based on the estimates for value of projects underway or planned on sold lots, and assumed development on the remaining 15.91-acre lot, the Village expects the District will add another $17.1 million in incremental value for a total buildout of $26.1 million. Creation of this additional value will be made possible by the Project Costs made within the District. A table detailing assumptions as to the development timing and associated values is included in the Economic Feasibility Study located within this Plan. EXPECTED TERMINATION OF DISTRICT Based on the Economic Feasibility Study located within Section 9 of this Plan, the Village anticipates that the District will generate sufficient tax increment to pay all Project Costs within its allowable 20 years. SUMMARY OF FINDINGS As required by Wis. Stat. § 66.1105, and as documented in this Plan and the exhibits contained and referenced herein, the following findings are made: 1. That “but for” the creation of this District, the development projected to occur as detailed in this Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the Village. At the time the District was created, the Village, and the Joint Review Board, found that absent the use of tax incremental financing, the Village would be unable to make the substantial investment needed to acquire land and to provide the public infrastructure necessary to expand the industrial park. This remains the case, and the Amendment will ensure that development occurring in the park contributes to the repayment of those costs. 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination the Village has considered that the Project will result in creation and retention of manufacturing and other jobs, income and sales taxes, and benefits to the local economy resulting from the purchase of goods and services rela ted to construction, expansion and operation of businesses in the District. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the s hare of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 5 incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the Village finds that the benefits expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Project. 4. Not less than 50% by area of the real property within the District, as amended, is suitable for industrial sites as defined by Wis. Stat. § 66.1101 and has been zoned for industrial use. Any real property within the District that was found suitable for industrial sites and was zoned for industrial use at the time of creation of the District or at the time of this Plan Amendment will remain zoned for industrial use for the life of the District. 5. Based on the foregoing finding, the District remains designated as an industrial district. 6. That Project Costs relate directly to promoting industrial development in the District, consistent with the purpose for which the District is created. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. 8. The equalized value of taxable property within the territory to be added to the District, plus the incremental value of all existing tax incremental districts within the Village does not exceed 12% of the total equalized value of taxable property within the Village. 9. The Plan for the District is feasible and is in conformity with the Master Plan of the Village. 10. The Village estimates that none of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 11. That there are no parcels to be included within the District through this Amendment that were annexed by the Village within the preceding three - year period. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 6 SECTION 2: Preliminary Map of Original District Boundary and Territory to be Added Map Found on Following Page. To the extent District boundaries include wetlands identified on a map prepared under Wis. Stat. § 23.32, the wetlands are excluded from the District. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 7 VILLAGE OF FREDONIA TID NO. 3 PRELIMINARY MAP OF PROPOSED DISTRICT BOUNDARIES AS OF JANUARY 1, 2026 VILLAGE OF FREDONIA OZAUKEE COUNTY , WISCONSIN ~!, STRAND ASSOC I A TE S 0 FIGURE 1 3844.015 Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 8 SECTION 3: Map Showing Existing Uses and Conditions Within the Territory to be Added Map Found on Following Page. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 9 Feet VILLAGE OF FREDONIA TID NO. 3 MAP OF EXISTING USES AND CONDITIONS VILLAGE OF FREDONIA OZAUKEE COUNTY, WISCONSIN Proposed TID No. 3 Amended Boundary Existing TID No. 3 Boundary Manufacturing ~!, STRAND ASSOC I A TE S 0 FIGUR E 2 3844.015 ,, Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 10 SECTION 4: Preliminary Identification of Parcels to be Added The Amendment adds the following tax parcel to the District: Parcel Number 09-035-15-016.00 Address 760 Tower Drive Owner Smiley Properties, LLC Acres 6.44 Value1 Land Improvements Total $ 252,100 $ 2,134,000 $ 2,386,100 1January 1, 2026 Full Value (State Assessed Manufacturing) 0.25 acres of right -of-way (Tower Drive) will also be added to the District boundary. At the time of creation of the District, all 89.857 acres were zoned and suitable for industrial development. The parcel to be added is zoned suitable for industrial development. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 11 SECTION 5: Equalized Value Test The following calculations demonstrate that the Village expects to be in compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property proposed to be added to the District, plus the value increment of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the Village. Calculation of Village Equalized Value Limit Village TID IN Equalized Value (Jan. 1, 2026) $ 338,180,900 TID Valuation Limit @ 12% of Above Value $ 40,581,708 Calculation of Value Subject to Limit Estimated Base Value of Added Territory $ 2,386,100 Incremental Value of Existing District (Jan. 1, 2026) $ 9,040,700 Total Value Subject to 12% Valuation Limit $ 11,426,800 The equalized value of the increment of the District, plus the value of the territory proposed to be added to the District, totals $ 11,426,800. This value is less than the maximum of $ 40,581,708 in equalized value that is permitted for the Village. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 12 SECTION 6: Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges, other than tax increments, received or reasonably expected to be received in connection with the implementation of the Plan. If Project Costs incurred benefit territory outside the District, a proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning, design and construction is completed. With all Project Costs, the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, environmental studies, perm its, updating ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The map found in Section 7 of this Plan along with the Detailed List of Project Costs found in Section 8 provide additional information as to the kind, number and location of potential Project Costs. The “Statement of Kind, Number and Location of Proposed Public Works and Other Projects” set forth in the original District Project Plan approved on July 15, 2021, remains unchanged, and is restated in this Section for reference. Property, Right-of-Way, and Easement Acquisition Property Acquisition for Development To promote and facilitate development the Village may acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the cate gories detailed in this Section may be incurred to make the property suitable for development. Any revenue received by the Village from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total project costs of the District. If total Project Costs incurred by the Village to acquire property and make it suitable for development exceed the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered “real property Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 13 assembly costs” as defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. Property Acquisition for Conservancy To promote the objectives of this Plan, the Village may acquire property within the District that it will designate for conservancy. These conservancy objectives include preserving historic resources or sensitive natural features; protection of scenic and historic views; maintaining habitat for wildlife; maintaining adequate open space; reduction of erosion and sedimentation by preserving existing vegetation; and providing adequate areas for management of stormwater. The cost of property acquired for conservancy, and any costs associated with the transaction, are eligible Project Costs. Acquisition of Rights-of-Way The Village may need to acquire property to allow for installation of streets, driveways, sidewalks, utilities, stormwater management practices, and other public infrastructure. Costs incurred by the Village to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements The Village may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices, and other public infrastructure. Costs incurred by the Village to identify, negotiate and acquire easement rights are eligible Project Costs. Relocation Costs If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include but are not limited to preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the Village related to environmental audits, testing, and remediation are eligible Project Costs. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 14 Demolition To make sites suitable for development, the Village may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The Village may need to remove and dispose of excess material or bring in fill material to provide for proper site elevations. Expenses incurred by the Village for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements To allow development to occur, the Village may need to construct, alter, rebuild, or expand sanitary sewer infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding, or expansion of collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the Distr ict provide direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild, or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Water System Improvements To allow development to occur, the Village may need to construct, alter, rebuild, or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding, or expansion of distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provi de direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 15 and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild, or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements Development within the District will cause stormwater runoff. To manage this stormwater runoff, the Village may need to construct, alter, rebuild, or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices (BMP’s). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefits . Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild, or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligibl e Project Costs. Electric Service To create sites suitable for development, the Village may incur costs to provide, relocate, or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the Village to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development, the Village may incur costs to provide, relocate, or upgrade gas mains and services. Costs incurred by the Village to undertake this work are eligible Project Costs. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 16 Communications Infrastructure To create sites suitable for development, the Village may incur costs to provide, relocate, or upgrade infrastructure required for voice and data communications, including, but not limited to telephone lines, cable lines, and fiber optic cable. Costs incurred by the Village to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the Village may need to construct or reconstruct streets, highways, alleys, access drives, and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping To attract development consistent with the objectives of this Plan, the Village may install amenities to enhance development sites, rights-of-way, and other public spaces. These amenities include but are not limited to: landscaping; lighting of streets, sidewalks, parking areas, and public areas; installation of planters, benches, clocks, tree rings, trash receptacles, and related items; and installation of brick or other decorative walks, terraces, and street crossings. These and any other similar amenities installed by the Village are eligible Project Costs. Community Development Cash Grants (Development Incentives) The Village may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the Village executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the Village are eligible Project Costs. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 17 Miscellaneous Property Tax Payments to Town Property tax payments due to the Town of Fredonia under Wis. Stat. § 66.1105(4)(gm)1. because of the inclusion of lands annexed after January 1, 2004, within the boundaries of the District are an eligible Project Cost. Projects Outside the Tax Increment District Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the Village may undertake projects within territory located within one -half mile of the boundary of the District provided that: 1) the project area is located within the Village’s corporate boundaries; and 2) the projects are approved by the Joint Review Board. The cost of projects completed outside the District pursuant to this section are eligible project costs and may include any project cost that would otherwise be eligible if undertaken within the District. Th e Village intends to make the following project cost expenditures outside the District: The Village resurfaced Tower Drive and Industrial Drive, portions of which lie outside of, but within one-half mile of the District boundaries. This cost was included in the original Project Plan and was approved by the Joint Review Board. No additional Project Costs are planned for areas outside the District . Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional ser vices include but are not limited to: architectural; environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with respect to the creation of the District and the implementation of the Plan. Administrative Costs The Village may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the time spent by Village employees relating to the implementation of the Plan. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 18 SECTION 7: Map Showing Proposed Improvements and Uses Within the Territory to be Added Map Found on Following Page. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 19 Proposed TID No. 3 Amended Boundary Existing TID No. 3 Boundary Land Use VILLAGE OF FREDONIA TID NO. 3 PROPOSED USES AND IMPROVEMENTS VILLAGE OF FREDONIA OZAUKEE COUNTY, WISCONSIN Manufacturing Stormwater Outlot ~!, STRAND ASSOC I A TE S 0 FIGURE 3 3844.015 Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 20 SECTION 8: Detailed List of Estimated Project Costs The following list identifies the Project Costs that the Village has made, expects to make, or may need to make in conjunction with the implementation of the District’s Plan or this Plan Amendment. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan Amendment. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. (Section 6 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. T his Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. Original Through Projected Updated vs. Project Cost Category Project Plan 12/31/20251 Remaining2 Original Plan Est. Timing Land Acquistion & Related Costs 1,086,200 1,033,896 (52,304) 2021 TID Creation 20,500 20,500 0 2021 Public Infrastructure & Engineering 4,260,000 4,100,967 (159,033) 2021-2025 Contingency 345,000 0 (345,000) 2021-2025 Interest on Long Term Debt 2,835,961 458,086 1,972,221 (405,654) 2022-2042 Finance Related Expense 30,600 99,053 68,453 2024 TID Administration 31,500 12,741 26,776 8,017 2023-2042 Property Tax Payments to Town 1,061 636 424 0 2023-2027 Totals 8,610,821 5,725,879 1,999,421 (885,521) Notes: 1Total expenditures per Village audited financial statements. Allocation among Project Cost categories may not be precise. 2Estimate, based on current cash flow model. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 21 SECTION 9: Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred This Section includes an updated forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how remaining Project Costs woul d be financed, and a projected cash flow demonstrating that the District remains economically feasible. Key Assumptions The Project Costs the Village has made are expected to create $26.1 million in incremental value by January 1, 2032. Table 1 includes actual District valuations through January 1, 2026 and a projection of additional value to be added. Assuming the Village’s current equalized TID Interim tax rate of $ 13.31 per thousand of equalized value, and no economic appreciation or depreciation, the Project would generate $5,465,254 in incremental tax revenue over the 20- year term of the District as shown in Table 2. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 22 Table 1 – Development Assumptions 627 Tower Dr./ Milwaukee St. Parcel B Parcel B1 Parcels I, H & F Actual Tool Warehouse Business Park Expansion Annual Total Developable Acres > 2.04 Existing Lot 7.53 25.38 2.50 8.60 3.00 2.00 5.00 15.91 43.56 1 2021 781,400 0 0 781,400 2021 1 2 2022 16,702,600 0 0 16,702,600 2022 2 3 2023 (9,581,600) 0 0 (9,581,600) 2023 3 4 2024 523,800 0 0 523,800 2024 4 5 2025 614,500 0 0 614,500 2025 5 6 2026 0 600,000 800,000 1,400,000 1,400,000 2026 6 7 2027 250,000 7,500,000 7,750,000 150,000 250,000 1,200,000 1,200,000 2,800,000 10,550,000 2027 7 8 2028 0 1,200,000 1,200,000 1,200,000 2028 8 9 2029 0 300,000 1,200,000 1,500,000 1,500,000 2029 9 10 2030 0 1,200,000 1,200,000 1,200,000 2030 10 11 2031 0 1,200,000 1,200,000 1,200,000 2031 11 12 2032 0 0 0 2032 12 13 2033 0 0 0 2033 13 14 2034 0 0 0 2034 14 15 2035 0 0 0 2035 15 16 2036 0 0 0 2036 16 17 2037 0 0 0 2037 17 18 2038 0 0 0 2038 18 19 2039 0 0 0 2039 19 20 2040 0 0 0 2040 20 Totals 9,040,700 250,000 7,500,000 0 7,750,000 300,000 150,000 250,000 1,200,000 600,000 800,000 6,000,000 9,300,000 26,090,700 Notes: 1Values and timing reflected for future development taken from Village spreadsheet provided on 11-1-2023. Values shown are minimum value guarantees. 2The dance studio will be built in two phases for a total of $2,000,000 of value added. Only phase I is shown. Dance Studio Phase I2 Remaining Dev. Acres Laura Logan Storage Mirror Image Metal Finish. Village of Fredonia, Wisconsin Tax Increment District No. 3 Development Assumptions1 Greatland Electrical Badger Paperboard Reminaing Dev. Acres Existing Business Park Ideal Tree Service Paulsen MechanicalConstruction Year Construction Year__ I I I I I I I I I I I I I I I I I I I I I I I I I I I I I _I _ I I I I Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 23 Table 2 – Tax Increment Projection Worksheet Type of District Base Value 2,886,700 District Creation Date Economic Change Factor 0.00% Valuation Date Jan 1, 2021 Apply to Base Value Max Life (Years) Base Tax Rate $13.31 End of Expenditure Period 15 3/1/2036 Rate Adjustment Factor 0.00% Revenue Periods/Final Year 20 2042 Extension Eligibility/Years Yes 3 Eligible Recipient District Construction Year Value Added Valuation Year Economic Change Total Increment Revenue Year Tax Rate 1 Tax Increment 1 2021 781,400 2022 781,400 2023 $16.65 13,013 2 2022 16,702,600 2023 17,484,000 2024 $15.10 263,978 3 2023 -9,581,600 2024 7,902,400 2025 $15.33 121,174 4 2024 523,800 2025 8,426,200 2026 $13.31 112,188 5 2025 614,500 2026 9,040,700 2027 $13.31 120,370 6 2026 1,400,000 2027 0 10,440,700 2028 $13.31 139,010 7 2027 10,550,000 2028 0 20,990,700 2029 $13.31 279,475 8 2028 1,200,000 2029 0 22,190,700 2030 $13.31 295,452 9 2029 1,500,000 2030 0 23,690,700 2031 $13.31 315,423 10 2030 1,200,000 2031 0 24,890,700 2032 $13.31 331,400 11 2031 1,200,000 2032 0 26,090,700 2033 $13.31 347,377 12 2032 0 2033 0 26,090,700 2034 $13.31 347,377 13 2033 0 2034 0 26,090,700 2035 $13.31 347,377 14 2034 0 2035 0 26,090,700 2036 $13.31 347,377 15 2035 0 2036 0 26,090,700 2037 $13.31 347,377 16 2036 0 2037 0 26,090,700 2038 $13.31 347,377 17 2037 0 2038 0 26,090,700 2039 $13.31 347,377 18 2038 0 2039 0 26,090,700 2040 $13.31 347,377 19 2039 0 2040 0 26,090,700 2041 $13.31 347,377 20 2040 0 2041 0 26,090,700 2042 $13.31 347,377 Totals 26,090,700 0 Future Value of Increment 5,465,254 Notes: 1Rate shown for the 2026 and preceding Revenue Years is actual per DOR Form PC-202 (Tax Increment Collection Worksheet) No Village of Fredonia, Wisconsin Tax Increment District No. 3 Tax Increment Projection Worksheet Industrial March 1, 2021 20 I Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 24 Financing and Implementation Land purchase and installation of public improvements were financed with a State Trust Fund Loan and proceeds of a 2024 General Obligation Bond issue. At the end of 2025, $4.93 million in debt principal was outstanding. With public improvements completed in 2025, the Village expects that remaining project costs will be limited to repayment of debt, and annual administrative expense. Should additional improvements or other costs become necessary prior to the end of District’s expenditure period in 2036, the Village would likely cash fund those costs. Based on the Project Cost expenditures as included within the cash flow exhibit (Table 3), the District is projected to accumulate sufficient funds by the end of its maximum life to pay off all Project cost liabilities and obligations. The projected closure is based on the various assumptions noted in this Plan and will vary dependent on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 25 Table 3 – Cash Flow Dated Date: Dated Date: Dated Date: Year Prin (3/15) Rate Interest Prin (3/15) Rate Interest Prin (3/1) Rate Interest Year 2021 12 1,575,000 2,980 1,577,992 1,033,896 310,609 1,344,505 233,487 233,487 1,575,000 2021 2022 115,934 115,934 28,688 112,650 3,701 145,039 (29,105) 204,382 1,575,000 2022 2023 13,013 115,417 128,429 39,274 4.000% 43,448 10,078 4.000% 27,748 198,495 1,530 320,574 (192,145) 12,237 1,525,648 2023 2024 263,978 181,499 3,530,000 19,606 126,214 39,857 4,161,154 40,730 4.000% 41,992 18,625 4.000% 19,201 2,527,608 99,053 7,573 2,754,782 1,406,373 1,418,610 4,996,293 2024 2025 121,174 35,064 44,692 1,350 202,280 42,474 4.000% 40,248 19,422 4.000% 18,404 238,358 968,404 4,274 1,331,583 (1,129,303) 289,306 4,934,397 2025 2026 112,188 35,064 25,000 195,759 207,370 210,211 785,592 44,173 4.000% 38,549 20,199 4.000% 17,627 105,000 5.000% 153,675 1,600 380,823 404,769 694,076 4,765,024 2026 2027 120,370 35,064 375,000 530,434 45,940 4.000% 36,782 21,007 4.000% 16,819 155,000 5.000% 147,175 1,600 424,323 106,111 800,187 4,543,077 2027 2028 139,010 35,064 174,074 47,682 4.000% 35,040 21,803 4.000% 16,023 160,000 5.000% 139,300 1,600 421,448 (247,374) 552,812 4,313,592 2028 2029 279,475 35,064 314,539 49,685 4.000% 33,037 22,719 4.000% 15,107 165,000 5.000% 131,175 1,600 418,323 (103,784) 449,028 4,076,188 2029 2030 295,452 35,064 330,516 51,672 4.000% 31,050 23,628 4.000% 14,198 170,000 5.000% 122,800 1,600 414,948 (84,432) 364,596 3,830,887 2030 2031 315,423 35,064 350,487 53,739 4.000% 28,983 24,573 4.000% 13,253 180,000 5.000% 114,050 1,600 416,198 (65,711) 298,885 3,572,575 2031 2032 331,400 35,064 366,464 55,815 4.000% 26,907 25,522 4.000% 12,303 185,000 5.000% 104,925 1,600 412,073 (45,609) 253,276 3,306,237 2032 2033 347,377 35,064 382,441 58,122 4.000% 24,601 26,577 4.000% 11,249 190,000 5.000% 95,550 1,600 407,698 (25,257) 228,019 3,031,538 2033 2034 347,377 35,064 382,441 60,446 4.000% 22,276 27,640 4.000% 10,186 200,000 5.000% 85,800 1,600 407,948 (25,507) 202,512 2,743,452 2034 2035 347,377 35,064 382,441 62,864 4.000% 19,858 28,746 4.000% 9,080 205,000 4.000% 76,700 1,600 403,848 (21,407) 181,105 2,446,842 2035 2036 347,377 35,064 382,441 65,331 4.000% 17,391 29,874 4.000% 7,952 215,000 4.000% 68,300 1,600 405,448 (23,007) 158,098 2,136,637 2036 2037 347,377 35,064 382,441 67,992 4.000% 14,730 31,090 4.000% 6,736 225,000 4.000% 59,500 1,600 406,648 (24,207) 133,891 1,812,554 2037 2038 347,377 35,064 382,441 70,712 4.000% 12,010 32,334 4.000% 5,492 235,000 4.000% 50,300 1,600 407,448 (25,007) 108,885 1,474,509 2038 2039 347,377 35,064 382,441 73,540 4.000% 9,182 33,627 4.000% 4,199 245,000 4.000% 40,700 1,600 407,848 (25,407) 83,478 1,122,341 2039 2040 347,377 35,064 382,441 76,465 4.000% 6,257 34,965 4.000% 2,861 260,000 4.000% 30,600 1,600 412,748 (30,307) 53,171 750,912 2040 2041 347,377 35,064 382,441 79,541 4.000% 3,182 36,371 4.000% 1,455 270,000 4.000% 20,000 1,600 412,148 (29,707) 23,464 365,000 2041 2042 347,377 35,064 382,441 365,000 4.000% 7,300 1,600 373,900 8,541 32,005 (0) 2042 Totals 5,465,253 631,152 251,203 5,105,000 219,695 939,935 250,068 12,862,306 1,086,200 514,208 488,800 229,892 3,530,000 1,686,208 4,841,053 314,310 99,053 40,577 12,830,300 Totals Notes: LEGEND: 1Balances shown for 2025 and preceding years are actual per Village's audited financial statements. CALLABLE MATURITIES END OF EXP. PERIOD ACTUAL (ABOVE LINE) PROJECTED CLOSURE YEAR Annual Cumulative Liabilities Outstanding Village of Fredonia, Wisconsin Tax Increment District No. 3 Cash Flow Projection Investment Income Rental of Land & Misc. Debt Premium Personal Property Aid Tax Increments Proceeds of LT Debt Admin. Expenses Projected Expenditures Series 2024A G.O. Bond $488,800 Projected Revenues Total Revenues Balances Land Sale Revenue State Trust Fund Loan $1,086,200 07/17/21 State Trust Fund Loan Capital Outlay Public Works First Draw - Actual Second Draw - Actual Actual 10/13/21 Finance Related Expenses $3,530,000 Total Expenditures 02/22/24 r----, r----, ----- r -----r -------- ,----- ➔ --------- 1 I I I I I I I I I I I I I I I I I I I -----, I I I I I I ----- r -----r -------- ,----- ➔ --------- ~ ----- r --------- 1 I I I I I I I I I I I I I I I I I I I I I I I -----1 _____ .J I I ______ J Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 26 SECTION 10: Annexed Property A tax incremental district cannot include annexed territory unless at least three years have elapsed since the annexation, or certain other requirements are met. The parcel added to the District by this Amendment was not annexed within the past three years. Other property within the original District boundary was annexed within the three years preceding the original District creation, and the Village has paid the Town of Fredonia an amount equal to the property taxes levied on the territory by the town at the time of the annexation for a period of five-years. Such payments allow ed for inclusion of the annexed lands as a permitted exception under Wis. Stat. § 66.1105(4)(gm)1. SECTION 11: Estimate of Property to be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the Village estimates that none of the territory within the District will be devoted to retail business at the end of the District’s maximum expenditure period. SECTION 12: Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and Village Ordinances Zoning Ordinances The proposed Plan Amendment is in general conformance with the Village’s current zoning ordinances. Individual properties may require rezoning at the time of development. Land within the District zoned industrial at the time of District creation will remain in a zoning classification suitable for industrial sites for the life of the District. Master (Comprehensive) Plan and Map The proposed Plan Amendment is in general conformance with the Village’s Comprehensive Plan identifying the area as appropriate for industrial development. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 27 Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the Village's permitting and inspection procedures. The proposed Plan Amendment conforms to all relevant State and local ordinances, plans, and codes . No changes to the existing regulations are proposed or needed. SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should the continued implementation of this Plan require relocation of individuals or business operations, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. SECTION 14: How Amendment of the Tax Incremental District Promotes the Orderly Development of the Village Amendment of the District and the implementation of the projects in its Plan promotes the orderly development of the Village by creating new industrial sites, providing necessary public infrastructure improvements, and providing appropriate financial incentives for private development projects. Through use of tax increment financing, the V illage can attract new investment that results in increased tax base. Development will occur in an orderly fashion in accordance with approved plans so that the Projects will be compatible with adjacent land uses. Development of new uses in the District will add to the tax base and will generate positive secondary impacts in the community such as creation and retention of manufacturing and other jobs, income and sales taxes, and benefits to the local economy resulting from the purchase of goods and services related to construction, expansion and operation of businesses in the District. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 28 SECTION 15: List of Estimated Non-Project Costs Non-project costs are public works projects which only partly benefit the District. Costs incurred that do not benefit the District may not be paid with tax increments. Examples of non-project costs are: • A public improvement made within the District that also benefits property outside the District. That portion of the total Project Costs allocable to properties outside of the District would be a non -project cost. • A public improvement made outside the District that only partially benefits property within the District. That portion of the total Project Costs allocable to properties outside of the District would be a non - project cost. • Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact fees, grants, special assessments, or revenues other than tax increments. No improvements to be made within the District will benefit property outside the District. Furthermore, there will be no improvements made outside the District that will only partially benefit the District. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 29 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) Legal Opinion Found on Following Page. Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 30 J'ab.Ii M_ C-~ M1etid P. H:!:lti.w 1d l\h r~tt• G. Z l&lilli" ,,....,,.., .Amn.v::.n ~ J'" DI Jif.urr._,.;,, f ~ ·.r lfilotlly - . .sclioo lt~iCl' jl: C.icc.ual i111~.:.w -.'Id .-Limn• H 1 0 'USEMAN & FEIND u.:r. Balli CJI H . J eiil:i ILl~ V illill:IJo l\hd'diii~ _ B•IKI l:!k;i a nr b . C'.tiIUll :J.Nao A.rnr1iid1 !1,1.. ~ullitii'a.a 'ftlt:f C~ lvk . Todd Tave.s :Senior Municipal Ad.visor Ehlers & As_;;ociates, Inc. ATTOR EYS AT LAW 1ii5(1 N INTH A.VENl! IF. GRAJ!"l'ON, Wrscox--.>IN 530 24-2'£50 August 5, 2026 375 :Bishops way , Suite 225 Brookfield, Wis co min 53 005-62 02 I N lrl F.MOlllA'.lt.l KJit1 ill I!. H nma Ii> 19Jt, - 201~ UPC. OC'{SB. IKooe,n L IJ"da d.,J J. if.kin:ald I'. O'Mt::1~ ''l:P.J.etlOl',IP. (2l'l!) l'AClf1 .F. (2Qjffl-mll1l Re: Tax Incremental District No. 3 Project Plan Amendment - Village of Fredonia At your direction, I ibav,e rei..i ewed. the T a!X Incremental District No. 3 Project Flan Amendment. }\s you Jmo,1-', my re\iiew of' fue Plm is required by :Section 66J 105 (4)(0 , Wis. :Stats. This Section requires 'Ihm a project plan for a tax mcre:meniral district include the fo11lo\\iing infoID1atio:n: 1. A statement listing tile kind, number and location of all proposed pU:blic '!.li"o:ds or improvements \\'liti.ri:n the district; 2. An economic feasibility study; 3. A detailed list of estimated project coots; 4. A description of the methods of finmcing a]l estiim:aited project costs and the time when the related costs OT monetary obligations are to be incmTed; :5. A map shoiliing the existing us,es and con.ditiom of Fea1 property m llie district; 6. A map :sho\liing proposed .. imp:rovem.ents. md mes in the district; 7. Any proposed ch'3!1lges of zoning ordinances, master plan, if my, n:mp., building codes and. city ordinmces; 8. A 1ist of esfunate,d non-project costs; 9. A statement of the proposed method fo.rFelocmion of any persom to be displaced; and Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 31 HOUSEMAL'I & FEIND, LLP August 5, 2026 Page. 2 10. The plan should further in die.ate ho,,., creation of the. tax incre.mental district promotes the. orderly development of the City. My review of the. Tax Incremental District No,. 3 Project Plan indicates that it is c.omple.te and complies \\ith the requirements of Section 66.1105(1), as identified above. Each of the itemized elements set forth above can be found in the Plan. Should you have any further questions or concerns with re,gard to this matte.r. or this opinion. please. do not hesitate to c.outact me .. MPH:am Very truly yoUIS, HOUSEMAN & FEIND, LLP Michael P. Herbrand Village. Attorney cc: Mr. Christophe Jenkins, Village. Administrator Tax Incremental District No. 3 Project Plan Amendment, Village of Fredonia Prepared by Ehlers Page | 32 SECTION 17: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions The following projection is provided to meet the requirements of Wis. Stat. § 66.1105(4)(i)4. Revenue Year Ozaukee County Village of Fredonia Northern Ozaukee SD MATC Total Revenue Year 2023 1,320 4,312 6,635 746 13, 013 2023 2024 26,783 87,481 134,586 15,128 263, 978 2024 2025 12,294 40,157 61,779 6,944 121, 174 2025 2026 11,382 37,179 57,198 6,429 112, 188 2026 2027 12,213 39,890 61,369 6,898 120, 370 2027 2028 14,104 46,067 70,872 7,966 139, 010 2028 2029 28,355 92,617 142,487 16,016 279, 475 2029 2030 29,976 97,911 150,633 16,932 295, 452 2030 2031 32,002 104,530 160,815 18,076 315, 423 2031 2032 33,623 109,825 168,961 18,992 331, 400 2032 2033 35,244 115,119 177,106 19,907 347, 377 2033 2034 35,244 115,119 177,106 19,907 347, 377 2034 2035 35,244 115,119 177,106 19,907 347, 377 2035 2036 35,244 115,119 177,106 19,907 347, 377 2036 2037 35,244 115,119 177,106 19,907 347, 377 2037 2038 35,244 115,119 177,106 19,907 347, 377 2038 2039 35,244 115,119 177,106 19,907 347, 377 2039 2040 35,244 115,119 177,106 19,907 347, 377 2040 2041 35,244 115,119 177,106 19,907 347, 377 2041 2042 35,244 115,119 177,106 19,907 347, 377 2042 Totals 554,496 1,811,162 2,786,396 313,199 5, 465,254 WI Dept of Revenue TID Annual Report Form PE-300 2025 Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type TID number TID type TID name Creation date Mandatory termination date Anticipated termination date Section 2 – Beginning Balance Amount TID fund balance at beginning of year 45126 FREDONIA OZAUKEE 07/01/2026 ORIGINAL 003 5 07/15/2021 07/15/2041 N/A $1,418,609 Section 3 – Revenue Amount Tax increment Investment income Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID $121,174 $44,692 $0 $0 $35,064 $0 TID number Developer guarantees Developer name Transfer from other funds Source Grants Source Other revenue Source Misc Income $1,350 Total Revenue (deposits) $202,280 Page of 1 4 I WI Dept of Revenue TID Annual Report Form PE-300 2025 Section 4 – Expenditures Amount 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 Allocation to another TID $924,975 $4,124 $43,429 $297,009 $150 $0 $0 $61,896 $0 $0 TID number $0 Developer grants Developer name N/A $0 Transfer to other funds Fund $0 Other expenditures Name $0 Total Expenditures $1,331,583 Section 5 – Ending Balance Amount TID fund balance at end of year Future costs Future revenue Surplus or deficit $289,306 $8,253,691 $7,316,074 $-648,311 Page of 2 4 WI Dept of Revenue TID Annual Report Form PE-300 2025 Current Year TID New Construction Values TID TID New Construction Increase TID New Construction Decrease Prior Year Correction TID Net New Construction (NNC) Section 6 – TID New Construction 003 $0 $0 $0 $0 Total $0 $0 $0 $0 Current Year Allowable Levy Increase Attributable to TID NNC TID TID Net New Construction Prior Year Municipal Equalized Value TID Net New Construction % Prior Year Adjusted Actual Levy Allowable Levy Increase Attributable to TID Net New Construction 003 $0 $273,032,200 0.00 $1,103,458 $0 Total $0 $273,032,200 0.00 $1,103,458 $0 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Historical Allowable Levy Increase Attributable to TID NNC Year TID TID Net New Construction TID Net New Construction % Allowable Levy Increase Attributable to TID Net New Construction Prior Year Adjusted Actual Levy Prior Year Municipal Equalized Value 2024 003 $0 $278,598,400 0.00 $897,463 $0 2024 Total $0 $278,598,400 0.00 $897,463 $0 2023 003 $14,707,200 $237,041,400 6.20 $863,003 $53,506 2023 Total $14,707,200 $237,041,400 6.20 $863,003 $53,506 Page of 3 4 WI Dept of Revenue TID Annual Report Form PE-300 2025 Section 7 – Contact Information Contact name Contact title Contact email Contact phone Christophe E. Jenkins Village Administrator (262) 707-3959admin@fredoniawi.gov Page of 4 4 VILLAGE OF FREDONIA Find Your Moments H<!-re Owner of Property Property Address City, State, Zip Code Phone Number Email CSM/ Plat Review Application 242 Fredonia Ave PO Box 159 Fredonia, Wisconsin 53021 {262} 692-9125 https:/ /www.fredoniawi.gov/ Owner's Information Smiley Properties, LLC 760 Tower Drive Fredonia, WI 53021 608-393-6100 jacob@badgerpaperboard.com Property Information Date 9'/3/ a.oAP Filed Fee* $250.00 Subdivision Requested: Purpose of CSM is to combine 2 lots that the owner currently owns. Does this property require a zoning change 0 Yes (i) No Proposed Use of Property: M-2 Manufacturing Names and Addresses of Adjoining Property Owners (Use Reverse if Needed) 1. CTNB Properties, 1603 Whitewater Drive, West Bend WI 53095 2. Marcus Real Estate, 4300 River Park Road, Saukville WI 53080 3. Jeremy Gasiorowski, 3960 Sounty Road 0, Saukville WI 53080 4. KMC RE Investor LLC, 1221 S Park Street, Port Washington WI 53074-0348 5. JJ Sweet Properties, 764 Tower Drive, Fredonia WI 53021-9329 6. Darrel Dohrwardt, 875 N. Dries Street, Saukville WI 53080 7. 8. 9. I certify that the forgoing statements are true and correct to the best of my knowledge. Signature of Owner: Eric R. Otte for Jacob Smiley Address of Owner (if different from above): Notice: This application must be complete and accurate, or it will be returned. CSM, survey, building plans, and/or drawings pertaining to this subdivision request must be included with this application before a hearing will be scheduled. * Fee $250 PLUS $5 per lot PLUS any engineering, administrative, or special meeting costs related to the subdivision. From the Desk of: Christophe E. Jenkins Village Administrator Plan Commission 9-14-2026 Badger Paperboard Certified Survey Map Commssioners, Our Office has reviewed the request to merge parcels 090351501600 (769 Tower) & 090351501500 for the purpose of accomodating the expansion of Badger Paperboard’s operations. The Certified Survey Map has been reviewed and complies with all municipal reuirements for lot sizes and and the current zoning, and Administration would recommend approval to the Village Board. Thank you, Christophe E. Jenkins Village Administrator VILLAGE OF FREDONIA Find Your Moments Here CERTIFIED SURVEY MAP NO __ _ FOR SMILEY PROPERTIESJ LLC LOT 1 AND 2, CSM NO. 3141, BEING PART OF THE SW 1/4 OF THE SE 1/4 OF SECTION 35, T. 12 N.-R. 21 E., VILLAGE OF FREDONIA, OZAUKEE COUNTY, WISCONSIN Parcel Line Table Curve Table Line # Dlrectlan Length Curve # L1 S87'30'33 "W 699 .56' C1 L2 s20·1a•4a•w 32.54 ' L3 N46'52 '58"W 177.12' L4 N43'07 '02"E 373 .30' L5 N01'49'38 "W 84.95' L6 N88'10'22 "E 477.69' L7 S01 '49 '37"E 667.53' LEGEND Length Radius Delta 257.05' 327.69' 44'56'40 " 200 0 SCALE 1"=200' Chord Directian I Chard Length N20'38 '42"E 200 I 250.51' 400 I FEET NORTH POINT REffRENCU> TO 11-tE S. LINE-SE 1/<t-, SEC. 35- 12-21 , RECORDED AS N8T30 'JJ•E PER STATE PLANE COORDINATE SYSTEM, SOUTH ZONE {NADBJ/20 11) 01 0) 0) g -.J ■ • IRON PIPE FOUND IN PLACE -N- ~ ( 1" X 18" (O.D.) IRON PIPE SET WEIGHING 1.13 LBS. PER LINEAL FOOT REBAR FOUND IN PLACE MAG NAIL SET RECORDED INFORMATION SECTION CORNER N46'52'58" W _ ____ _ _: - - - 7 LOT 1 417,203 SQ FT 9.58 ACRES . ~QT. 1. I I ~itWJh. 1 ------------- --- 3:: > C '° C en .... "' p "' 0 "' ---------- ----0, ~~=-=~ (622.6 6') I Cj --- ~.2.:·_1_4~---------i- (/) ::r: ITI ITI -i CERTIFIED SURVEY MAP NO __ _ FOR SMILEY PROPERTIES~ LLC LOT 1 AND 2, CSM NO. 3141, BEING PART OF THE SW 1/4 OF THE SE 1/4 OF SECTION 35, T. 12 N.-R. 21 E., VILLAGE OF FREDONIA, OZAUKEE COUNTY, WISCONSIN SURVEYOR'S CERTIFICATE I, Eric R. Otte, Professional Land Surveyor, hereby certify. That I have surveyed, divided, and mapped a parcel of land described below. That I have made such Certified Survey by the direction of Smiley Properties, LLC, bounded and described as follows: Lot 1 and Lot 2, Certified Survey Map No. 3141, recorded in Volume 22, Page 172, Certified Survey Maps, Ozaukee County Register of Deeds Office, being part of the Southwest 1/4 of the Southeast 1/4 af Section 35, T. 12 N. - R. 21 E., Village of Fredonia, Ozaukee County, Wisconsin. That such is a correct representation af all the exterior boundaries of the land surveyed and the subdivision thereof made . That I have fully complied with the provisions of Section 236.34 of the Wisconsin Statutes and the Subdivision Ordinance of the Village of Fredonia in surveying, dividing, and mapping the same. ,,,, k~ S-2440 J.E. Arthur and Associates, Inc. 548 N. Prairie Road Fond du Lac, Wisconsin 54935 ~LLAGE BOARD APPROVAL This Certified Survey Map has been submitted to and approved as mapped by the Village of Fredonia, Wisconsin. Dated this ______ day of _________ _ 2026. By. Peter Lenz, President Michelle Johnson, Clerk (11 O> !'> g -.J I ("') (/) s:::: )> C IQ C Ill r+- 1'> !=' 1'> 0 1'> O> (/) :I: 1"11 1"11 -I 0 "Tl (/) :I: 1"11 1"11 ~ CERTIFIED SURVEY MAP NO __ _ FOR SMILEY PROPERTIESI LLC LOT 1 AND 2, CSM NO. 3141, BEING PART OF THE SW 1/4 OF THE SE 1/4 OF SECTION 35, T. 12 N.-R. 21 E., VILLAGE OF FREDONIA, OZAUKEE COUNTY, WISCONSIN OWNER'S CERTIFICATE OF DEDICATION As owner, I hereby certify that I caused the land described on this plot to be surveyed, divided, and mopped as represented on the plot. I also certify that this plot is required by s.236.10 or s.236.12 to be submitted to the following for approval or objection: 1. Village of Fredonia In Witness whereof the said Owner caused these presents this __ day of ---~ 2026. SMILEY PROPERTIES, LLC Jacob Smiley, Authorized Agent STATE OF WISCONSIN) OZAUKEE COUNTY) ss Personally, come before me this _____ day of----------~ 2026 the above-named Jacob Smiley to me known to be the person who executed the foregoing instrument and acknowledged the some. Notary Public, ------~ Wis. My Commission Expires: 01 O> O> 9 -.J I (") ~ > C '° C en .... I\,) p I\,) 0 I\,) O> en :c ITI ITI -I 0 ..,, en :c ITI ITI ~ CERTIFIED SURVEY MAP NO FOR ---- SMILEY PROPERTIES1 LLC LOT 1 AND 2, CSM NO. 3141, BEING PART OF THE SW 1/4 OF THE SE 1/4 OF SECTION 35, T. 12 N.-R. 21 E., VILLAGE OF FREDONIA, OZAUKEE COUNTY, WISCONSIN 200 0 e-, SCALE 1"=200' 200 400 FEET 01 O> !'> 9 " -N- b 3::