Community Development Authority Meeting — Agenda Packet

Administrative Offices Municipal Building - 138 East Main Street Mount Horeb, Wisconsin 53572 608.437.6884 | mounthorebwi.info COMMUNITY DEVELOPMENT AUTHORITY AGENDA Wednesday, September 9, 2026 at 6:00 PM Municipal Building Board Room 138 E. Main Street Mount Horeb, WI 1) Call to order 2) Roll Call 3) Public Participation Participants may speak for up to three minutes. To participate, please complete a public comment form at the Board Room entrance and submit it to staff before the meeting begins. See below for more details. [Space] 4) Consent Agenda All items listed below are considered to be routine by the Governing Body and will be enacted by one motion (roll call vote). There will be no separate discussion of these items unless a Board member so requests, in which event the item will be removed from the Consent Agenda and considered as the first item after the Consent Agenda. [Space] a. Consideration of August 12, 2026 Meeting Minutes 5) Chair's Report 6) Staff Reports a. Economic Development Director's report b. Mount Horeb Area School District report c. Mount Horeb Area Chamber of Commerce Report 7) Action Items a. Consider approval of a TIF Project Plan Creation Proposal from Ehlers b. Consider approval of the Lukken Farms Development Timeline 8) Adjournment *Public Comment Policy Members of the public are invited to speak at meetings of all Mount Horeb Public Bodies. To comment, please complete a Public Comment Form at the Meeting Room entrance and submit it to staff before the meeting begins. Comments are limited to three minutes, must be made from the podium, and the speaker must return to the audience after speaking. Page 1 of 35 • Non-agenda item comments are heard at the start of the meeting. Public Body members and staff will not engage in discussion during public comment but may consider topics for future agendas. • Agenda item comments are heard during the relevant item, after the proposers or staff present the item and before Public Body discussion. All public comments on the item will be heard before any discussion by the Public Body. Members of the public will only be allowed to speak outside these public comment times if they are invited by the meeting chair to share additional information requested by the Public Body. If so invited to speak, the member of the public must do so from the podium. Written comments are also welcome. Written comments shall include the name and address of the submitter and should be submitted to the Deputy Treasurer/Governance Coordinator by email at niki.erickson@mounthorebwi.info (subject line: Public Comment Request-Name of Public Body) or delivered by to the Village at: 138 E Main Street, Mount Horeb WI, 53572, ATTN Public Comment Request-Name of Public Body. UPON REASONABLE NOTICE, EFFORTS WILL BE MADE TO ACCOMMODATE THE NEEDS OF DISABLED INDIVIDUALS THROUGH APPROPRIATE AIDS AND SERVICES. FOR INFORMATION OR TO REQUEST THIS SERVICE, CONTACT ALYSSA GAFFNEY, CLERK, AT 138 E MAIN STREET, MOUNT HOREB, WI (608) 437-9404. Page 2 of 35 Page 3 of 35 Page 4 of 35 Page 5 of 35 August 30, 2026 To: Community Development Authority From: Kristen Fish-Peterson, Economic Development Contracted Staff Re: Report on work to date What follows is a list of activities for August: 1. Meetings in person and virtual a. Gabe Altenbernd individually (virtually, phone, and emails) b. Meetings regarding Lukken Property (with Making a Difference, Staff) c. Meetings regarding Karakahl Redevelopment (with JT Klein) d. Meetings with retail prospects and property owners wishing to market their vacant space e. Meeting with property owners re: annexation f. Chamber of Commerce document review, dialogue with Chamber President/CEO, alley activation project g. Chamber Meet & Greet: village and chamber board 2. Follow up from meetings 3. Work to certify TID 6 with WI DOR 4. Review of map and follow-up for work toward business park potential development 5. Research for future TID/ housing TID 6. Work on timeline for Lukken development Page 6 of 35 Agenda Item Report Community Development Authority: Wednesday, September 9, 2026 Staff Reports: Mount Horeb Area School District report Recommendation Background Board Communication - Mount Horeb Area School District MHASD Monthly Report Financial Impact n/a Attachments Prepared By Page 7 of 35 SEPTEMBER 2026 Chamber Report mounthorebchamber.com 608-437-5914 info@trollway.com O ur la t e s t C h a mb e r e v e n t , t h e A u gu s t 1 9 V illa ge a n d C h a mb e r M e e t & G r e e t , b r o u g h t t o g e t h e r 1 4 m e m b e r s o f V illa ge a n d C h a mb e r le a d e r s h ip fo r a n in fo r m a l o p p o r t u n it y t o c o n n e c t a n d b u ild r e la t io n s h ip s . T h e r e s p o n s e w a s v e r y p o s it iv e , a n d w e lo o k fo r w a r d t o b u ild in g o n t h a t m o m e n t um t h r o u gh t h e C o mmu n it y C o a lit io n . A fa ll m e e t in g fo r t h e C o a lit io n is s c h e d u le d fo r O c t o b e r 1 t o d is c u s s m e r gi n g t h e C h a mb e r 's B u s in e s s A d v o c a c y C o m m it t e e w it h t h e C o a lit io n a n d e s t a b lis h s h a r e d p r io r it ie s a n d g o a ls fo r t h e c o mi n g y e a r . L o o k in g a h e a d , S e p t e mb e r m a r k s t h e V illa ge 's n e w ly p r o c la im e d C h a m b e r M o n t h . T o c e le b r a t e , w e w ill b e gin a n n o u n c in g n o mi n e e s n e x t w e e k fo r o u r n e w ly e x p a n d e d A n n u a l A w a r d s p r o g r a m , w h ic h w ill r e c o g n iz e b u s in e s s e s , o r ga n iz a t io n s , a n d in d iv id u a ls a c r o s s 1 4 c a t e g o r ie s . W in n e r s w ill b e a n n o un c e d a t t h e A n n u a l A w a r d s e v e n t o n D e c e mb e r 2 . S e p t e m b e r p r o g r a mmi n g a ls o in c lu d e s a n o n lin e J o b R o u n d - U p h ig h lig h t in g lo c a l e m p lo y e r s a n d c ur r e n t o p e n in gs . F a ll V illa ge -W id e G a r a ge S a le s w ill t a k e p la c e S e p t e m b e r 1 6 –1 9 . W h ile t r a d it io n a lly s m a lle r t h a n t h e s p r in g e v e n t , t h e fa ll s a le s c o n t in u e t o b r in g t r e a s ur e h un t e r s t o t h e a r e a . Plan n in g is a ls o w e ll u n d e r w a y fo r o u r t w o ma jo r O c t o b e r e v e n t s . F a ll V illa g e M a r k e t w ill t a k e p la c e O c t o b e r 3–4 a n d w ill b e h e ld e x c lu s iv e ly in t h e D u lu t h T r a d in g C o m p a n y p a r k in g lo t t h is y e a r d ue t o c o n s t r u c t io n n e a r t h e B ik e S h e lt e r . W e a n t ic ip a t e 5 0 –6 0 v e n d o r s a n d a p p r o x im a t e ly 8 ,0 0 0 a t t e n d e e s o v e r t h e w e e k e n d . W it c h e s ' N igh t O u t w ill t a k e p la c e O c t o b e r 1 5 , w it h t ic k e t s a le s n o w o p e n . T h is y e a r w e a r e in t r o d uc in g a n a n n u a l c o lle c t ib le p in fo r t ic k e t h o ld e r s in p la c e o f t r a d it io n a l g o o d ie b a g s . A n e w d e s ign w ill b e un v e ile d e a c h y e a r , c r e a t in g a d d it io n a l e x c it e m e n t a r o un d t h e e v e n t a n d gi v in g a t t e n d e e s a f un r e a s o n t o r e t u r n a n d b u ild t h e ir c o lle c t io n . B e h in d t h e s c e n e s , w e a r e a ls o f in a liz in g 2 0 2 7 M e mb e r s h ip ma t e r ia ls , e x c it in g n e w p la n s fo r G o o d Mo r n in g Mo u n t H o r e b , a W e lc o m e C e n t e r T r o ll E x h ib it , u p d a t e d T r o ll C a p it a l o f t h e W o r ld B r a n d in g a n d m o r e ! Page 8 of 35 BUILDING COMMUNITIES. IT’S WHAT WE DO. September 9, 2026 Proposal to Provide Tax Incremental Financing District Creation Assistance to the: Village of Mount Horeb, WI Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 Advisors: Brian Roemer Senior Municipal Advisor Kayla Thorpe Municipal Advisor Page 9 of 35 Village of Mount Horeb, WI Page 1 TID Creation Proposal Ehlers Transmittal Letter Re: Proposal to Provide Tax Incremental Financing District Creation Assistance to the Village of Mount Horeb Dear Gabe, We are pleased to present this proposal to the Village of Mount Horeb. We believe our expertise and reputation, our dedication to proactive client service, and our unique project approach provide a compelling relationship option for the Village to consider. For more than 60 years, Ehlers has helped its municipal clients build strong and vibrant communities through its municipal advisory services. The following qualitative factors separates us from competing firms: Expertise. Ehlers has staff dedicated to the specialized work of completing economic development projects. We serve clients across Wisconsin and throughout the upper Midwest. In the last five years ( 2021-2025), our firm has completed over 376 TID Creations and Amendments . Process. Our process is designed to facilitate effective decision-making. Our TID Creations are completed in phases with the first phase being a Feasibility Analysis. To our knowledge, our competitors cannot complete an analysis to the level of detail we strive for due to their lack of Municipal Advisor designation or do not complete this vital step. The analysis will provide decision makers with the framework for options on how to approach the Project Plan formation before paying the expenditures to other third parties for the creation project (engineers, attorneys, etc.). Accessible Team Players. We are responsive to our clients by meeting short deadlines and assigning more than one Municipal Advisor to each client to ensure we meet their needs. Our process is flexible and designed to avoid delays and facilitate decision-making. Client-First Values. Ehlers prides itself on transparent communication, proactive service, and an unwavering dedication to deploying client resources most efficiently and effectively. At the core, we will provide the Village with ongoing dialogue and idea-sharing, independent analysis, customized options, and a competitive, value-oriented fee structure. Our team will be led by Brian Roemer and supported by Kayla Thorpe. Thank you for including us in this process. We appreciate your consideration and look forward to discussing how Ehlers can best serve the Village of Mount Horeb. Respectfully submitted, Brian Roemer, Senior Municipal Advisor broemer@ehlers-inc.com Kayla Thorpe, Municipal Advisor kthorpe@ehlers-inc.com Page 10 of 35 Village of Mount Horeb, WI Page 2 TID Creation Proposal Ehlers Qualifications & Experience Professional biographies for the team follow below. Biographies and credentials for remaining team members can be found under the Our Team tab on Ehlers' public website. Brian Roemer Senior Municipal Advisor Brian helps clients with fiscal studies, debt planning and issuance, and financial management planning. Since he joined the firm as an intern in 2016, Brian has quickly risen through the ranks due to his commitment to accuracy, dedication to customer service, and ability to break down complex financial concepts in a way that all client constituents can understand. Brian holds a Master of Business Administration degree from the University of Wisconsin Milwaukee. Kayla Thorpe Municipal Advisor Kayla is a Municipal with our Wisconsin Municipal Finance Team, helping clients with project management, long-term financial management planning, and economic development and redevelopment. She also assists our Wisconsin Municipal Advisors with public debt planning and issuance. Kayla brings nearly 15 years of local and federal government experience to her role with the firm, most recently serving as the Administrator | Clerk for the Village of Butler, Wisconsin. She holds a bachelor’s degree in Political Science and a Master of Business Administration degree. Page 11 of 35 Village of Mount Horeb, WI Page 3 TID Creation Proposal Ehlers Scope of Service – TID Creation The project team proposes to undertake the following steps for the Village. Our approach is flexible and has proven to deliver the information, recommendations, and facilitated discussions essential to creating development pla ns with confidence and accuracy. Ehlers proposes and agrees to provide the following scope of services for the Creation of a new Tax Incremental Financing District (“Project”): Phase I – Feasibility Analysis The purpose of Phase I is to determine whether the Project is a statutorily and economically feasible option to achieve the Client’s objectives. This phase begins upon your authorization of this engagement and ends on completion and delivery of a feasibility analysis report. As part of Phase I services, Ehlers & Associates will: • Consult with appropriate Client officials to identify the Client’s objectives for the Project. • Provide feedback as to the appropriateness of using Tax Incremental Financing in the context of the “but for” test. • If the Project includes creation of or addition of territory to a district, identify preliminary boundaries and gather parcel data from Client. Determine compliance with the following statutory requirements as applicable: o Equalized Value test. o Purpose test (industrial, mixed use, blighted area, in need of rehabilitation or conservation, or environmental remediation). o Newly-platted residential land use test. • Prepare feasibility analysis report. The report will include the following information, as applicable: o Identification of the type or types of districts that may be created. o A description of the type, maximum life, expenditure period and other features corresponding to the type of district proposed. o A summary of the development assumptions used with respect to timing of construction and projected values. o Projections of tax increment revenue collections to include annual and cumulative present value calculations. o Qualification of the district as a donor or recipient of shared increment, and projected impact of any allocations of shared increment. o If debt financing is anticipated, a summary of the sizing, structure, and timing of proposed debt issues. o A cash flow pro forma reflecting annual and cumulative district fund balances and projected year of closure. Page 12 of 35 Village of Mount Horeb, WI Page 4 TID Creation Proposal Ehlers o A draft timetable for the Project. o Identification of how the creation date may affect the district’s valuation date, the base value, compliance with the equalized value test, and the ability to capture current year construction values and changes in economic value. o When warranted, evaluate, and compare options with respect to boundaries, type of district, project costs and development levels. o Ehlers & Associates will provide guidance on district design within statutory limits to creatively achieve as many of the Client’s objectives as possible and will provide liaison with State Department of Revenue as needed in the technical evaluation of options. • Present the results of the feasibility analysis to the Client’s staff, Plan Commission, or governing body. Phase II – Project Plan Development and Approval If the Client elects to proceed following completion of the feasibility analysis, the Project will move to Phase II. This phase includes preparation of the Project Plan, and consideration by the Plan Commission 1, governing body, and the Joint Review Board. This phase begins after receiving notification from the Client to proceed and ends after the Joint Review Board acts on the Project. As part of Phase II services, Ehlers & Associates will: • Based on the goals and objectives identified in Phase I, prepare a draft Project Plan that includes all statutorily required components. • We will coordinate with your staff, engineer, planner or other designated party to obtain a map of the proposed boundaries of the district, a map showing existing uses and conditions of real property within the district, and a map showing proposed improvements and uses in the district. 1If Client has created a Redevelopment Authority or a Community Development Authority, that body may fulfill the statutory requirements of the Plan Commission related to creation or amendment of the district. • Submit to the Client an electronic version of the draft Project Plan for initial review and comment. • Coordinate with Client staff to confirm dates and times for the meetings indicated within the table beginning on the following page. Ehlers & Associates will ensure that selected dates meet all statutory timing requirements and will provide documentation and notices as indicated. Meeting Ehlers & Associates Responsibility Client Responsibility Initial Joint Review Board Prepare Notice of Meeting and transmit to Client’s designated paper. Mail meeting notice, informational materials, and draft Project Plan to overlapping taxing jurisdictions. Provide agenda language to Client. Post or publish agenda and provide notification as required by the Wisconsin Open Records Law. Prepare meeting minutes. Page 13 of 35 Village of Mount Horeb, WI Page 5 TID Creation Proposal Ehlers Attend meeting to present draft Project Plan. Designate Client Joint Review Board representative. Identify and recommend Public Joint Review Board representative for appointment. Plan Commission Public Hearing Prepare Notice of Public Hearing and transmit to Client’s designated paper. Post or publish agenda and provide notification as required by the Wisconsin Open Records Law. Plan Commission Provide agenda language to Client. Attend meeting to present draft Project Plan. Provide approval resolution for Plan Commission consideration. Post or publish agenda and provide notification as required by the Wisconsin Open Records Law. Distribute Project Plan & resolution to Plan Commission members in advance of meeting. Prepare meeting minutes. Governing Body Action Provide agenda language to Client. Attend meeting to present draft Project Plan. Provide approval resolution for governing body consideration. Post or publish agenda and provide notification as required by the Wisconsin Open Records Law. Provide Project Plan & resolution to governing body members in advance of meeting. Prepare meeting minutes. Joint Review Board Action Mail meeting notice and copy of final Project Plan to overlapping taxing jurisdictions. Prepare Notice of Meeting and transmit to Client’s designated paper. Provide agenda language to Client. Attend meeting to present final Project Plan. Provide approval resolution for Joint Review Board consideration. Post or publish agenda and provide notification as required by the Wisconsin Open Records Law. Prepare meeting minutes. Page 14 of 35 Village of Mount Horeb, WI Page 6 TID Creation Proposal Ehlers • Throughout the meeting process, provide drafts of the Project Plan and related documents in sufficient quantity for the Client’s staff, Plan Commission, governing body and Joint Review Board members. • Provide advice and updated analysis on the impact of any changes made to the Project Plan throughout the approval process. Phase III – State Submittal This phase includes final review of all file documents, preparation of filing forms, and submission of the base year or amendment packet to the Department of Revenue. This phase begins following approval of the district by the Joint Review Board and ends with the submission of the base year or amendment packet. As part of Phase III services, Ehlers & Associates will: • Coordinate with Client’s assessor and other staff as necessary to obtain parcel valuations, parcel data and other information needed for preparation of the State forms that must be filed as part of the base year or amendment packet. • Assemble and submit to the Department of Revenue the required base year or amendment packet to include a final Project Plan document containing all required elements and information. • Provide the Client with an electronic copy of the final Project Plan (and up to 15 bound hard copies if desired). • Provide the municipal Clerk with a complete electronic and/or hard copy transcript of all materials as submitted to the Department of Revenue for certification. • Act as a liaison between the Client and the Department of Revenue during the certification process in the event any questions or discrepancies arise. Compensation - Flat Fee Portion of Engagement In return for the services set forth in the “Scope of Service,” Client agrees to compensate Ehlers & Associates as follows: Phase I $ 5,500 Phase II $ 8,000 Phase III $ 2,500 Total $ 16,000 • Phase I base fee includes up to five financial scenarios. Additional scenarios will be run as needed at a cost of $750/scenario. • In the event Client determines not to proceed with the Project once a Phase has been authorized, but prior to that Phase’s completion, the compensation due for that Phase will be prorated to reflect the percentage of the work completed. Page 15 of 35 Village of Mount Horeb, WI Page 7 TID Creation Proposal Ehlers Compensation – Hourly Services Portion of Engagement Ehlers & Associates will bill Client on an hourly basis for services requested by Client in conjunction with the engagement that are not specifically identified in the Scope of Service set forth in this letter. Examples would include: • Attendance at additional meetings beyond the four required for approval or amendment of the District (Organizational Joint Review Board, Plan Commission (or CDA), Governing Body and Final Joint Review Board). • Review of development agreements related to the District’s Project Plan and participation in negotiations with developers. Hourly services will be billed at a rate that is dependent upon the task/staff required to meet Client request at $250.00/hour. Payment for Services For all compensation due to Ehlers & Associates, we will invoice Client for the amount due at the completion of each Phase. Our fees include our normal travel, printing, computer services, and mail/delivery charges. The invoice is due and payable upon receipt by the Client. Client Responsibility The following expenses are not included in our Scope of Services, and are the responsibility of Client to pay directly: • Services rendered by Client’s engineers, planners, surveyors, appraisers, assessors, attorneys, auditors, and others that may be called on by Client to provide information related to completion of the Project. • Preparation of maps necessary for inclusion in the Project Plan. • Preparation of maps necessary for inclusion in the base year or amendment packet. • Publication charge for the Notice of Public Hearing and Notices of Joint Review Board meetings. • Legal opinion advising that Project Plan contains all required elements. (Normally provided by municipal attorney). • Preparation of District metes & bounds description. (Needed in Phase III for creation of new districts, or amendments that add or subtract territory). • Department of Revenue filing fee and annual administrative fees. The current Department of Revenue fee structure is: Current Wisconsin Department of Revenue Fee Schedules Base Year Packet $1,000 Amendment Packet with Territory Addition or Subtraction $1,000 Page 16 of 35 Village of Mount Horeb, WI Page 8 TID Creation Proposal Ehlers Amendment Packet with Territory Addition and Subtraction $2,000 Base Value Redetermination $1,000 Amendment Packet No Charge Annual Administrative Fee $150 Client Engagement If the Village finds this proposal suitable, please take the appropriate action and/or governing body approval. Please inform us of the decision and we will provide our required disclosures for signature. Page 17 of 35 Village of Mount Horeb, WI TID Feasibility Discussion September 9, 2026 CDA Meeting Page 18 of 35 BACKGROUND: TID 101 TID Feasibility Discussion 2 Page 19 of 35 3 • Key acronyms:  TIF = Tax Increment Financing (the tool)  TID = Tax Increment District (where the tool is used - boundary) • Economic development tool • Allows municipalities to capture incremental property tax revenue from growth in defined area & use it to benefit that area What is TIF? Page 20 of 35 4 How does it work? Page 21 of 35 5 • Contiguous area and cannot extend beyond corporate limits • Increment value of existing TID(s) + proposed base value of new district(s) < 12% of total Equalized Value  Currently Village is at 9.12% with 40M of residual capacity • TID Type TBD  More on the next slide Requirements for TID creation Page 22 of 35 6  Mixed Use: At least 50% of land area in proposed TID Suitable for Mixed-Use development as determined by any combination of industrial, commercial or ‘qualifying residential (limited to 35% of total area newly platted) TID Type TBD but looking at residential development  New Residential TID rules  The development only consists of owner-occupied, single-family or two-family residences.  The lot size of each single-family residence is less than 7,500 square feet.  The lot size of each two-family residence is 12,500 square feet or less.  The residential lot width for each single-family residence is 70 feet or less.  The residential lot width for each two-family residence is 80 feet or less.  No side setback is greater than 10 feet.  No single-story residence is larger than 1,500 square feet.  No two-story residence is larger than 2,000 square feet. Page 23 of 35 7 Eligible project costs • Public works & improvements • Financing costs • Real property assembly costs (land write-down) • Professional service costs • Admin./Org. costs • Contribution to Community Dev. Authority or Redev. Authority • Relocation costs • Pro-rated costs of utility infrastructure (municipality- wide) • Cash grants (requires developer agreement) • Environmental remediation • Projects within ½ mile of district All costs must directly relate to purpose of the TID, including ½ mile Page 24 of 35 8 • Boundary  May add and/or subtract property  Must remain contiguous, however district can encircle a non-district parcel  Must follow 12% test to add territory (unless subtraction)  Limit of 4 allowed during life of district Amendments • Plan  Used to amend list of projects to be undertaken  Revenue Sharing  No limit to number allowed (except maximum expenditure period) Page 25 of 35 FINANCING & BEST PRACTICES TID Feasibility Discussion 9 Page 26 of 35 • Issue general obligation or revenue debt • Advances from other funds Community “Fronts” Costs • Use TIF revenue stream and accumulated balances to pay expenses • Developer agrees to up-front costs, repaid from TIF revenues Pay-As-You-Go Funding Eligible Projects: Options Page 27 of 35 11 • Developer funds project costs up front • Municipality agrees to return tax increment revenue paid from new development  Subject to annual appropriation: Payment dependent on revenue being available, no revenue – no payment • Shifts risks of insufficient revenue to repay debt from Village to Developer while allowing for use of TIF to incentivize project • Developer may choose to monetize TIF, request private financing secured by the PAYGO agreement “Pay as You Go” model Page 28 of 35 12 Best Practice: Planning & Monitoring • Sensitivity analysis • Worst case scenario, back-up plan Effective ways to mitigate risk • Better match expenses, debt service to revenues • Ensure TID doesn’t undertake projects it’s unlikely to recover Use together, proactively to • Economic cycles, change in law, private party performance Can’t fully eliminate risks Page 29 of 35 13 • Pay-go Memorialized in Developer’s Agreement • Incentive payments do not start or continue  Development & improvements completed in time and manner prescribed; advantage to phasing agreements  Private and public improvements, erosion, grading, landscaping, etc. • Developer to pay for site infrastructure  Reimbursed through increment created  Subject to Village approval Risk Assessment Page 30 of 35 14 • Village Costs  Issue debt for near term projects and necessary infrastructure  Village to pay for administrative costs  Could be Protected in Incentive Calculation: Village collects increment first • Incentives  Calculation = Annual Increment * Sharing percentage OR – (Annual Increment - Village Annual costs) * Sharing Percentage  Capped at costs of project specific infrastructure  Prepayable anytime • Village retains a portion of increment collected  Allows for cumulating fund balance to close TID early, additional cash flow protection, and/or additional Village projects funded Risk Assessment Page 31 of 35 15 A Q & Page 32 of 35 16 Ehlers is the joint marketing name of the following affiliated businesses (collectively, the “Affiliates”): Ehlers & Associates, Inc. (“EA”), a municipal advisor registered with the Municipal Securities Rulemaking Board (“MSRB”) and the Securities and Exchange Commission (“SEC”); Ehlers Investment Partners, LLC (“EIP”), an SEC registered investment adviser; and Bond Trust Services Corporation (“BTS”), a holder of a limited banking charter issued by the State of Minnesota. Where an activity requires registration as a municipal advisor pursuant to Section 15B of the Exchange Act of 1934 (Financial Management Planning and Debt Issuance & Management), such activity is or will be performed by EA; where an activity requires registration as an investment adviser pursuant to the Investment Advisers Act of 1940 (Investments and Treasury Management), such activity is or will be performed by EIP; and where an activity requires licensing as a bank pursuant to applicable state law (paying agent services shown under Debt Issuance & Management), such activity is or will be performed by BTS. Activities not requiring registration may be performed by any Affiliate. This communication does not constitute an offer or solicitation for the purchase or sale of any investment (including without limitation, any municipal financial product, municipal security, or other security) or agreement with respect to any investment strategy or program. This communication is offered without charge to clients, friends, and prospective clients of the Affiliates as a source of general information about the services Ehlers provides. This communication is neither advice nor a recommendation by any Affiliate to any person with respect to any municipal financial product, municipal security, or other security, as such terms are defined pursuant to Section 15B of the Exchange Act of 1934 and rules of the MSRB. This communication does not constitute investment advice by any Affiliate that purports to meet the objectives or needs of any person pursuant to the Investment Advisers Act of 1940 or applicable state law. Important Disclosures Page 33 of 35 Agenda Item Report Community Development Authority: Wednesday, September 9, 2026 Action Items: Consider approval of the Lukken Farms Development Timeline Recommendation Background Financial Impact Attachments Prepared By 1. Lukken Farms Gantt Chart Page 34 of 35 Lukken Farms Housing Development Timeline 2026 - 2028 Crowd Sourcing* Phase 1 Utility Expansion Plan Concept* Prepare CSM SEPTTask List OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY AUG Soil Testing CARPC Env. Coor. Review Preferred Concept Review* Phase 2 Utility Expansion Engineering* Traffic Impact Analysis 2026 2027 Preliminary Plat* Phase 4 TIF Project Plan Creation Annexation* Phase 3 Letter of Intent Appraisal (TBD) Determine Park/Dev/ Funding* CARP Sewer Ext./Plat Review Phase 4 Final Plat* SEPTTask List OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY AUG 2027 2028 Shovel in Ground Phase 5 Approve CSM* Pur/TIF/Dev Agreement* Page 35 of 35