Joint Review Board — Minutes

Page 1 of 2 A meeting of the Joint Review Board was held at City Hall on June 9, 2026 at 3:00 P.M. Mayor Jay Eddy , County Board Chair Ron Carney , School Superintendent Dr. Shelly Severson, and Julie Murray were present. Western Technical College Board member Christina Heit attended remotely via Zoom meetings. The City Administrator was also present. 1. Mayor Jay Eddy called the meeting to order at 3:00 PM. 2. Shelly Severson nominated Jay Eddy to serve as Chairperson. There were no other nominations. 3. It was moved by Ron Carney , seconded by Shelly Severson to close the nominations and cast a unanimous ballot for Jay Eddy to serve as Chairperson. Motion carried. 4. Shelly Severson nominated Julie Murray to serve as the public member. There were no other nominations. 5. It was moved by Shelly Severson , seconded by Ron Carney to close the nominations and cast a unanimous ballot for Julie Murray to serve as public member. Motion carried. 6. Mayor Jay Eddy represented the City of Black River Falls, Ron Carney represented the Jackson County Board, Dr. Shelly Severson represented the Black River Falls School District, Christina Heit represented Western Technical College, and Julie Murray served as Public Member. 7. City Administrator Brad Chown presented the 2025 annual PE-300 reports for all 5 active tax incremental financing districts in the City. 8. TID #3 is the Wal -Mart district and ha d a fund balance of $ 1,118,385 as of December 31, 202 5. This TID is projected to be closed in 2028 . This TID shares revenues with TID #6. Expenditure period has expired so the only expenses left are administrative fees and debt service. Prior to this TID being terminated, a majority of the fund balance will be moved to TID #6 to support future development in the downtown district. 9. TID #6 is the Downtown District and ha d a fund balance of $ 275,436 as of December 31, 2025. The District receives shared revenue from TID #3. The assessed value in the district continues to increase even without any large developments thanks in part to current property owners making improvements to their properties and the city wide revaluation that occurred in 2024. Increment revenue was $56,717 in 2025. 10. TID #7 is the Industrial Park II district and ha d a fund balance of $ 9,434 as of December 31, 2025. This is an industrial district which was created in 2017. A small warehousing building has created the current increment and annual revenue of approximately $6,532. Page 2 of 2 11. TID #8 is the Swiderski district and ha d a negative fund balance of $77,845 as of December 31, 202 5. This district was created in 2021. SC Swiderski constructed 6 apartment buildings, an office building, and three self-storage buildings in the district . The Development Agreement has provisions that guarantee annual tax revenue of $270,000 . Debt was issued to cover the deficit and increment revenue going forward will cover debt payments and leave a small annual surplus for the district. 12. TID #9 is the McFour district and had a negative fund balance of ( -$15,433) as of December 31, 2025. This district was created in 2022. There has been no development so there is no increment revenue at this time. 13. It was moved by Ron Carney, seconded by Shelly Severson to approve JRB Resolution 202 6-A acknowledging filing of annual reports and compliance with annual meeting requirements. Motion carried. 14. It was moved by Shelly Severson , seconded by Ron Carney to adjourn. Motion carried at 3:18pm. Alex B. Chown City Administrator