Joint-Review-Board-Meeting-Agenda-Packet-6-11-2026.pdf

JOINT REVIEW BOARD CITY OF FRANKLIN TAX INCREMENTAL DISTRICT NO. 11 June 11, 2026, at 4:00 PM The meeting will be held at the Franklin City Hall, Council Chambers, located at 9229 W Loomis Rd. 1. Call to order. 2. Roll call. 3. Appointments: a. Public member. b. Chairperson. 4. Approval of Minutes: a. May 6, 2026 5. Review responsibilities of the Joint Review Board. 6. Review and discuss draft Project Plan. 7. Set next meeting date. 8. Adjourn. NOTICE OF PUBLIC HEARING AND JOINT REVIEW BOARD MEETING CITY OF FRANKLIN, WISCONSIN NOTICE IS HEREBY GIVEN that the City of Franklin will hold a Joint Review Board meeting on June 11, 2026, at 4:00 PM. The meeting will be held at the Franklin City Hall, Council Chambers, located at 9229 W Loomis Rd. The purpose of the meeting is to organize the Joint Review Board for consideration of the City’s proposal to create Tax Incremental District No. 11. NOTICE IS HEREBY GIVEN that the Plan Commission of the City of Franklin will hold a public hearing on June 18, 2026, at 6:00 PM. The meeting will be held at the Franklin City Hall, located at 9229 W Loomis Rd. The hearing will be held to provide the public a reasonable opportunity to comment on the proposed creation of Tax Incremental District No. 11, its proposed boundaries, and its proposed Project Plan. The District’s proposed boundary is identified on the map included in this Notice. Based on the planned use of properties within the proposed District boundary the City expects to designate the District as suitable for industrial development. Projects to be undertaken within the District and costs to be incurr ed (Project Costs) will be for the purpose of promoting industrial development and will include installation or rehabilitation of utilities and intersections , 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 an d in areas located in the City within ½ mile of that boundary. All interested parties will be given a reasonable opportunity to comment on the proposed creation of the District, its proposed boundaries, and its proposed Project Plan. A copy of the proposed District Project Plan, including a description of the proposed boundaries, is available for public inspection and will be provided on request during normal business hours at the office of the City Clerk at the Franklin City Hall, located at 9229 W Loomis Rd. By Order of the City of Franklin, Wisconsin Published June 3, 2026 & June 10, 2026 DRAFT MINUTES JOINT REVIEW BOARD, CITY OF FRANKLIN TAX INCREMENTAL DISTRICT NO. 10 CREATION May 6, 2026, at 4:00 p.m. 1. The City of Franklin Joint Review Board (JRB) meeting was called to order at 4:00 p.m. on May 6, 2026, at 4:00 p.m. by John Regetz, Chair and City Member. The meeting was held in the Council Chambers at Franklin City Hall, 9229 West Loomis Road, Franklin, Wisconsin. The meeting was held to consider the Creation of Tax Incremental District No. 10 (TID 10). 2. On roll call, the following members were present: Chad Noel (Milwaukee Area Technical College), Andy Chromy (Franklin School District), Celia Benton (Milwaukee County) and John Regetz (City of Franklin). Also present: Franklin City Director of Administration Kelly Hersh, Ehlers Managing Director, Todd Taves, Shirley Roberts, City Clerk and City Attorney Jesse A. Wesolowski. 3. Appointment of Public Member – As there were several candidates the appointment was conducted as an election. Nomination by Chromy, second by Regetz, to nominate Mike Barber. Barber added to the ballot. Motion by Noel to nominate Darrel Malek. Nomination died for lack of second. There being no further nominations, motion by Chromy, second by Regetz to close nominations and cast a unanimous ballot thereof to appoint Mike Barber as the Public Member of the Joint Review Board. Motion carried. 4. Approval of Minutes - The Minutes of February 16, 2026 Organizational JRB Meeting for the Creation of Tax Incremental District No. 10 were submitted for approval. Motion by Barber, second by Chromy to approve. Motion carried. 5. Ehlers Managing Director, Todd Taves reviewed the TID-10 Project Plan, public record and resolutions passed by the Plan Commission and Common Council regarding proposed TID 10 and offered to answer questions regarding the public record and planning documents reviewed at the se meetings. From the April 8 Comm on Council meeting Staff Report, Regetz cited TID-10 project expenses and values created , as well as the potential to maximize values which could close TID-10 in 20 years. Chromy asked what the blight considerations were for that designation. Regetz explained that while the Council is not required to cite specific technical or physical data to designate the property as blighted the deteriorating conditions of the site and buildings (Orchard View Mall’s aging infrastructure, parking area and physical structure) make its operations unfeasible. The geotechnical report of vacant parcels reveals improper fill that is unstable for construction, requiring pilings and deeper engineered foundations. Extra environmental studies were required to determine the extent o f drycleaning chemicals and a transformer leak found in preliminary tests. The subsequent testing revealed levels within acceptable regulated limits. The expenses for these studies and other site mitigations accumulate and impact development feasibility. Access to the vacant parcels is owned only on South 76th Street, but will also be required on West Rawson Avenue to satisfy fire codes. 6. The Board considered approval of a “Resolution Approving the Creation of Tax Incremental District No. 10”. Motion by Barber, second by Chromy , to approve the resolution. Motion carried. 7. Motion by Barber, second Chromy, to adjourn. Meeting adjourned at 4:31 pm. June 18, 2026 PROJECT PLAN City of Franklin, Wisconsin Tax Incremental District No. 11 Franklin Business Park Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT’S WHAT WE DO. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 2 KEY DATES Organizational Joint Review Board Meeting Held: June 11, 2026 Public Hearing Held: June 18, 2026 Approval by Plan Commission: June 18. 2026 Adoption by Common Council: July 7, 2026 Approval by the Joint Review Board: TBD TABLE OF CONTENTS Executive Summary.................................................................................................................................. 3 Preliminary Map of Proposed District Boundary .......................................................................... 6 Map Showing Existing Uses and Conditions ................................................................................... 9 Preliminary Parcel List and Analysis .................................................................................................. 11 Equalized Value Test ............................................................................................................................. 14 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District ..................................................................................................... 15 Map Showing Proposed Improvements and Uses ...................................................................... 19 Detailed List of Estimated Project Costs ....................................................................................... 22 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 ....................................................................................................................................................... 23 Annexed Property ...................................................................................................................................28 Estimate of Property to Be Devoted to Retail Business ..........................................................28 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances .................................................................................................................................................28 Statement of the Proposed Method for the Relocation of any Persons to be Displaced ....................................................................................................................................................................... 29 How Creation of the Tax Incremental District Promotes the Orderly Development of the City ....................................................................................................................................................... 29 List of Estimated Non-Project Costs .............................................................................................. 30 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) ............................................................................................................................................... 31 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions .....................................................33 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 3 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District (“TID”) No. 1 1 (“District”) is a proposed Industrial District comprising approximately 114 acres located in the Franklin Business Park and adjoining lands to the north. The District will be created to pay costs related to Yaskawa Electric Corporation’s (“Yaskawa”) development of a new campus in the District (“Project”). The new campus will include a headquarters, training, and manufacturing facilities for industrial robots . Approximately 576,000 square feet of new facilities will be constructed as part of the overall 1,043,000 square foot campus representing a $182 million private capital investment that is expected to create over 1,000 positions with annual salaries averaging $90,000. The employment opportunities resulting from the Project will support home ownership, increased population and retail & services markets in the City . In addition to the incremental property value that will be created because of this capital investment, and the long- term employment opportunities, the City expects the Project will result in short-term employment related to the construction and expansion of industrial facilities, and a general increase in commerce and economic activity within the City and region. AUTHORITY The City is creating the District under the provisions of Wis. Stat. § 66.1105. ESTIMATED TOTAL PROJECT COST EXPENDITURES The City anticipates making total expenditures of approximately $ 5.3 million (“Project Costs”) to undertake the projects listed in this Project Plan (“Plan”). Project Costs include an estimated $4.2 million in development incentives, $165,000 to reimburse Yaskawa for the portion of the cost of relocating traffic signals, $300,000 for sanitary sewer and water main relocations at the Allis Roller site (within ½ mile) , $300,000 for a site remediation grant for WilCraft Can (within ½ mile), $114,963 in interes t on repayment of advances , and $205,000 in City administrative expense related to creation and administration of the District. INCREMENTAL VALUATION The City projects that new land and improvements value of approximately $37.5 million will result from the Project. 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. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 4 EXPECTED TERMINATION OF DISTRICT Based on the Economic Feasibility Study located within Section 9 of this Plan, the City anticipates that the District will generate sufficient tax increment to pay all Project Costs within 13 of 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 City. In reaching this determination, the City has considered the substantial private capital investment that will be made to expand industrial operations in the District, and the negotiations with the company related to the need for City participation in the Project. 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 improvement s. In making this determination, the City has considered the $1 82 million private capital investment within the proposed District that is expected to create over 1,000 positions with annual salaries averaging $ 90,000. as well as the benefits of short -term employment related to the construction and expansion of industrial facilities, and a general increase in commerce and economic activity within the City and region. 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 share 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 incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the City 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 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 is found suitable for industrial sites and is zoned for industrial use at the time of creation of the District will remain zoned for industrial use for the life of the District. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 5 5. Based on the foregoing finding, the District is designated as an industrial district. 6. The 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 in the District, plus the incremental value of all existing tax incremental districts within the City does not exceed 12% of the total equalized value of taxable property within the City. 9. The City estimates that less than 35% 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). 10. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. 11. The Plan for the District is feasible and is in conformity with the Master Plan of the City. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 6 SECTION 2: Preliminary Maps of Proposed District Boundary Maps Found on Following Pages. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 7 Map Key Parcel # Map Key P arcel # Map Key Parcel # 1 881-9998-001 7 900- 0007-004 13 900-0009-007 2 881-9999-001 8 900-0009-021 14 900-0009-006 3 900-0009-022 9 900-0009-020 15 900-0009-005 4 900-0009-018 10 900-0002-002 16 900-0012-002 5 900-0009-019 11 900-0005-001 17 900-0012-003 6 900-0009-011 12 900-0005-003 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 8 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 9 SECTION 3: Map Showing Existing Uses and Conditions Map Found on Following Page. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 10 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 11 SECTION 4: Preliminary Parcel List and Analysis The table below identifies the parcels to be included in the District, with identification of the acres zoned and suitable for industrial use. Total acreage of existing public rights-of-way included within the proposed District boundary are also listed. A total of 113.51 acres, to include existing rights-of-way, lie within the proposed District boundary. Of this total, 96.95 acres, or 85% of the total District acreage is zoned and suitable for industrial development, meeting the minimum requirement of 50%. Table continues on next page. N/A ROW Areas 6.80 1 881-9998-001 5012 W RYAN RD DMN/RYAN, LLC 5.64 2 881-9999-001 0 W RYAN RD DMN/RYAN, LLC 4.12 3 900-0009-022 5000 W ASHLAND WAY FRANKLIN CORPORATE CENTER, LLC 9.27 9.27 4 900-0009-018 4800 W ASHLAND WAY YASKAWA AMERICA, INC 5.16 5.16 5 900-0009-019 2 W WORLD PACKAGING CIR YASKAWA AMERICA, INC 17.48 17.48 6 900-0009-011 9559 S OAKWOOD PARK DR YASKAWA AMERICA, INC 4.02 4.02 7 900-0007-004 9670 S FRANKLIN DR OAK BROOK APPLE, LLC 9.51 9.51 8 900-0009-021 4801 W ASHLAND WAY YASKAWA AMERICA, INC 6.64 6.64 9 900-0009-020 1 W WORLD PACKAGING CIR YASKAWA AMERICA, INC 13.56 13.56 10 900-0002-002 5075 W AIRWAYS AVE FRANKLIN OFFICE PARTNERS, LLC 2.96 2.96 11 900-0005-001 9750 S FRANKLIN DR CARMA LABORATORIES, INC 3.45 3.45 12 900-0005-003 9780 S FRANKLIN DR 9780 FRANKLIN DRIVE, LLC 3.47 3.47 13 900-0009-007 4710 W BASSWOOD DR YASKAWA AMERICA, INC 5.67 5.67 Map Reference Number Parcel Number Address Owner Acres Zoned and Suitable for Ind. Develop. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 12 The table on the following page provides January 1, 2025, assessed values of the land and improvements for each parcel to be included in the District. For purpose of estimating District base value, the prior year’s actual assessment ratio of 90.76% is used. Based on that ratio, the total equalized, or fair market value of land and improvements within the District as of January 1, 202 5, was $73,428,400. Actual base value will be certified using January 1, 2026, assessed values and assessment ratio. 14 900-0009-006 4620 W BASSWOOD DR AFLP FRANKLIN, LLC 5.30 5.30 15 900-0009-005 9705 S OAKWOOD PARK DR TI INVESTORS OF FRANKLIN III, LLC 5.71 5.71 16 9 00-0012-002 4403 W BASSWOOD DR GENERATION II, LLC 2.40 2.40 17 900-0012-003 0 S OAKWOOD PARK DR GENERATION II, LLC 2.34 2.34 TOTALS 113.51 96.95 Per centage of TID Area Zoned and Suitable for Industrial Development (at least 50%) 85% Percentage of TID Area Not Zoned and Suitable for Industrial Development 15% Total Area 100% Map Reference Number Parcel Number Address Owner Acres Zoned and Suitable for Ind. Develop. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 13 Calculation of Estimated Base Value 1 Parcel Land Improvement Total Land Improvement Total 881-9998-001 377,100 0 377,100 415,500 0 415,500 881-9999-001 135,900 0 135,900 149,700 0 149,700 900-0009-022 784,700 5,371,300 6,156,000 864,600 5,918,200 6,782,800 900-0009-018 482,200 0 482,200 531,300 0 531,300 900-0009-019 3,383,100 14,563,400 17,946,500 3,727,500 16,046,200 19,773,700 900-0009-011 597,700 0 597,700 658,600 0 658,600 900-0007-004 801,000 4,248,000 5,049,000 882,600 4,680,500 5,563,100 900-0009-021 589,900 0 589,900 650,000 0 650,000 900-0009-020 2,625,300 14,459,100 17,084,400 2,892,600 15,931,200 18,823,800 900-0002-002 320,800 30,800 351,600 353,500 33,900 387,400 900-0005-001 384,400 2,314,500 2,698,900 423,500 2,550,100 2,973,600 900-0005-003 386,100 711,600 1,097,700 425,400 784,100 1,209,500 900-0009-007 518,700 0 518,700 571,500 0 571,500 900-0009-006 491,900 5,527,100 6,019,000 542,000 6,089,800 6,631,800 900-0009-005 522,300 5,178,700 5,701,000 575,500 5,706,000 6,281,500 900-0012-002 267,300 1,293,000 1,560,300 294,500 1,424,600 1,719,100 900-0012-003 277,300 0 277,300 305,500 0 305,500 TOTALS 12,945,700 53,697,500 66,643,200 14,263,800 59,164,600 73,428,400 1) Estimated based on values as of January 1, 2025. Actual base value will be as of January 1, 2026. 2) Calculation based on aggregate assessment ratio of 90.76%. Assessed Value Equalized Value 2 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 14 SECTION 5: Equalized Value Test The following calculations demonstrate that the City expects to be in compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property in the proposed 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 City . The equalized value of the increment of existing tax incremental districts within the City, plus the base value of the proposed District, totals $441,097,400. This value is less than the maximum of $869,462,904 in equalized value that is permitted for the City. Calculation of City Equalized Value Limit City TID IN Equalized Value (Jan. 1, 2025) 7,245,524,200$ TID Valuation Limit @ 12% of Above Value 869,462,904$ Calculation of Value Subject to Limit Estimated Base Value of Territory to be Included in District 73,428,400$ Incremental Value of Existing Districts (Jan. 1, 2025) 367,669,000$ Total Value Subject to 12% Valuation Limit 441,097,400$ Tot al Percentage of TID IN Equalized Value 6.09% Residual Value Capacity of TID IN Equalized Value 428,365,504$ City of Franklin, Wisconsin Tax Increment District #11 (Franklin Business Park) Valuation Test Compliance Calculation Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 15 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 C ost. 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, permits, updating City ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The following is a list of public works and other tax incremental financing eligible Project Costs that the City expects to make, or may need to make, in conjunction with the implementation of the District’s Plan. The map found in Section 7 of this Plan al ong 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. Property, Right-of-Way and Easement Acquisition Acquisition of Rights-of-Way The City 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 City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements The City 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 City to identify, ne gotiate and acquire easement rights are eligible Project Costs. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 16 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. Utilities Sanitary Sewer System Improvements To allow development to occur, the City 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 provi de direct benefit to land outside of the District, the City 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 City 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 City 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 City 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 City 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 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 17 necessitated by the implementation of the Project Plan are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the City 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 util ity 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. Community Development Cash Grants (Development Incentives) The City 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 City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Projects Outside the Tax Increment District Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the City 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 City’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. The City intends to make the following project cost expenditures outside the District: • The City will need to relocate sewer and water mains and hydrants to accommodate an expansion of Allis Roller. The relocations are necessary to provide continued utility services to the District. • The City will need to relocate traffic signals at the intersection of West Ryan Road and South Oakwood Park Drive to accommodate traffic from the Project. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 18 • The City may fund studies and provide a remediation grant to property located outside the District (WilCraft Can) that promotes the industrial expansion objectives of 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 services 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 City 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 City 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. 11 Project Plan City of Franklin Prepared by Ehlers Page | 19 SECTION 7: Map Showing Proposed Improvements and Uses Maps Found on Following Pages. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 20 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 21 Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 22 SECTION 8: Detailed List of Estimated Project Costs The following list identifies the Project Costs that the City currently expects to incur in implementing the District’s Plan. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan. 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). Chan ges in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This 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. Project Name/Type Estimate Timing Environmental Studies and Remediation Grant - WilCraft Can 300,000 2027 Traffic Signal Relocation Reimbursement - Yaskawa 165,000 2028 Utility Relocations - Allis Roller 300,000 2031 City Administrative Costs 205,000 2026-2040 Interest on Advances 114,963 2029-2034 Development Incentives - Yaskawa 4,200,000 2030-2044 Total Projects 5,284,962 City of Franklin, Wisconsin Tax Increment District #11 (Franklin Business Park) Estimated Project List Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 23 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 a forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how Project Costs would be financed, and a projected cash flow demonstrating that the District is economically feasible. Key Assumptions The Project Costs the City plans to make are expected to create $ 37.5 million in incremental value by January 1, 20 34. Estimated valuations and timing for construction of the Project are included in Table 1. Assuming the City’s current equalized TID Interim tax rate of $1 6.50 per thousand of equalized value, and annual 1% economic appreciation in property values , the Project would generate $10.8 million in incremental tax revenue over the 20-year term of the District as shown in Table 2. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 24 Table 1 – Development Assumptions Building One1 Building Two2 Building Three3 Parking Garage3 Annual Total 1 2026 2,483,000 2,483,000 2026 1 2 2027 3,103,750 3,103,750 2027 2 3 2028 620,750 6,370,000 6,990,750 2028 3 4 2029 6,370,000 6,370,000 2029 4 5 2030 6,370,000 6,370,000 2030 5 6 2031 0 2031 6 7 2032 2,209,350 1,801,800 4,011,150 2032 7 8 2033 4,485,650 3,658,200 8,143,850 2033 8 9 2034 0 2034 9 10 2035 0 2035 10 11 2036 0 2036 11 12 2037 0 2037 12 13 2038 0 2038 13 14 2039 0 2039 14 15 2040 0 2040 15 16 2041 0 2041 16 17 2042 0 2042 17 18 2043 0 2043 18 19 2044 0 2044 19 20 2045 0 2045 20 Totals 6,207,500 19,110,000 6, 695,000 5,460,000 37,472,500 Bldg. Sq. Ft 95,500 294,000 103,000 84,000 Value/Sq. F 65$ 65$ 65$ 65$ @ $65 Sq. F 6,207,500 19,110,000 6,695,000 5,460,000 Notes: 1Occupancy must be issued prior to July 30, 2028 to be eligible for development incentive. 2Occupancy must be issued prior to December 31, 2030 to be eligible for development incentive. 3Occupancy must be issued prior to December 31, 2033 to be eligible for development incentive. Construction Year Construction Year City of Franklin, Wisconsin Tax Increment District #11 (Franklin Business Park) Development Assumptions Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 25 Table 2 – Tax Increment Projection Worksheet Type of District Base Value 73,428,400 District Creation Date Appreciation Factor 1.00% Valuation Date Jan 1, 2026 Base Tax Rate $16.50 Max Life (Years) Rate Adjustment Factor Expenditure Period/Termination 15 7/7/2041 Revenue Periods/Final Year 20 2047 Extension Eligibility/Years Yes 3 Eligible Recipient District Construction Year Value Added Valuation Year Inflation Increment Total Increment Revenue Year Tax Rate Tax Increment 1 2026 2,483,000 2027 0 2,483,000 2028 $16.50 40,980 2 2027 3,103,750 2028 24,830 5,611,580 2029 $16.50 92,614 3 2028 6,990,750 2029 56,116 12,658,446 2030 $16.50 208,916 4 2029 6,370,000 2030 126,584 19,155,030 2031 $16.50 316,136 5 2030 6,370,000 2031 191,550 25,716,581 2032 $16.50 424,428 6 2031 0 2032 257,166 25,973,746 2033 $16.50 428,672 7 2032 4,011,150 2033 259,737 30,244,634 2034 $16.50 499,159 8 2033 8,143,850 2034 302,446 38,690,930 2035 $16.50 638,557 9 2034 0 2035 386,909 39,077,839 2036 $16.50 644,943 10 2035 0 2036 390,778 39,468,618 2037 $16.50 651,392 11 2036 0 2037 394,686 39,863,304 2038 $16.50 657,906 12 2037 0 2038 398,633 40,261,937 2039 $16.50 664,485 13 2038 0 2039 402,619 40,664,556 2040 $16.50 671,130 14 2039 0 2040 406,646 41,071,202 2041 $16.50 677,841 15 2040 0 2041 410,712 41,481,914 2042 $16.50 684,620 16 2041 0 2042 414,819 41,896,733 2043 $16.50 691,466 17 2042 0 2043 418,967 42,315,701 2044 $16.50 698,380 18 2043 0 2044 423,157 42,738,858 2045 $16.50 705,364 19 2044 0 2045 427,389 43,166,246 2046 $16.50 712,418 20 2045 0 2046 431,662 43,597,909 2047 $16.50 719,542 Totals 37,472,500 6,125,409 Future Value of Increment 10,828,946 Notes: 1Tax rate shown is actual TID interim rate for the 2025/26 levy per DOR Form PC-202 (Tax Increment Collection Worksheet). City of Franklin, Wisconsin Tax Increment District #11 (Franklin Business Park) Tax Increment Projection Worksheet Industrial July 7, 2026 20 No Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 26 Financing and Implementation Based on the District’s January 1, 2026, base value date, tax increment will first be collected for the 2028 budget year. The Village expects to incur costs for a remediation grant as well as administrative expense prior to 2028 and will advance funds to the District as needed to pay those costs. The District will repay the advanced funds with interest, with full repayment projected within eight years of the initial advance. The City will reimburse Yaskawa for a portion of the cost of relocating traffic signals and pay the cost of relocation of utilities in the vicinity of Allis Roller, from cash projected to be available from tax increment collections. If tax increment collections are not sufficient to pay these costs at the time they are incurred, the City may advance additional funds, to be recovered with interest. Development incentives for Yaskawa will be made on a “pay as you go” basis from tax increment generated by the additional facilities to be constructed. The source of these payments is solely limited to the tax increment, and payments will be subject to annual appropriation. I ncentive payments are based on a percentage of the tax increment generated, ranging from 55% - 65%, for a period of ten years, for any new or expanded facility that receives occupancy by dates specified in the development agreement . No payments will be made after the 20 44 calendar year, and total payments will be subject to a cap of $4,200,000. 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 year 2040 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. 11 Project Plan City of Franklin Prepared by Ehlers Page | 27 Table 3 – Cash Flow City of Franklin, Wisconsin Tax Increment District #11 (Franklin Business Park) Cash Flow Projection Building Building B uilding Parking One Two Thr ee Structure Year MRO1 MRO1 MRO1 MRO1 Year 2026 0 50,000 50, 000 50,000 50,000 0 0 51,750 2026 2027 0 655,000 310,000 965, 000 655,000 300,000 10,000 965,000 0 0 374,411 2027 2028 40,980 134,020 175, 000 165,000 10,000 175,000 0 0 1,211,096 2028 2029 92,614 92, 614 40,000 10,000 50,000 42,614 42,614 1,189,514 2029 2030 208,916 208, 916 55% 57,082 50,000 10,000 117,082 91,834 134,448 3,250,493 2030 2031 316,136 316, 136 60% 62,894 300,000 65,000 10,000 437,894 (121,758) 12,690 3,139,130 2031 2032 424,428 424, 428 60% 63,523 191,134 150,000 10,000 414,657 9,771 22,461 4,114,040 2032 2033 428,672 428, 672 65% 69,504 209,133 150,000 10,000 438,637 (9,965) 12,496 3,695,507 2033 2034 499,159 499, 159 65% 70,199 211,224 153,983 10,000 445,406 53,753 66,249 3,265,308 2034 2035 638,557 638, 557 65% 70,901 213,336 72,059 58,766 10,000 425,062 213,495 279,744 2,850,246 2035 2036 644,943 644, 943 65% 71,610 215,469 72,779 59,354 10,000 429,213 215,730 495,474 2,431,033 2036 2037 651,392 651, 392 65% 72,326 217,624 73,507 59,947 10,000 433,405 217,987 713,461 2,007,629 2037 2038 657,906 657, 906 65% 73,050 219,800 74,242 60,547 10,000 437,639 220,267 933,728 1,579,990 2038 2039 664,485 664, 485 65% 73,780 221,998 74,984 61,152 10,000 441,915 222,570 1,156,298 1,148,074 2039 2040 671,130 671, 130 65% 224,218 75,734 61,764 25,000 386,716 284,413 1,440,711 786,358 2040 2041 677,841 677,841 65% 226,461 76,492 62,381 365,334 312,508 1,753,219 421,024 2041 2042 684,620 684, 620 65% 77,256 63,005 140,262 544,358 2,297,576 280,763 2042 2043 691,466 691, 466 65% 78,029 63,635 141,664 549,801 2,847,378 139,098 2043 2044 698,380 698, 380 65% 78,809 60,289 139,098 559,282 3,406,660 0 2044 2045 705,364 705, 364 0 705,364 4,112,024 0 2045 2046 712,418 712, 418 0 712,418 4,824,442 0 2046 2047 719,542 719, 542 0 719,542 5,543,984 0 2047 Total 10,828,946 655, 000 494,020 11,977,967 684,869 2,150,398 753,891 610,841 655,000 165,000 300,000 300,000 608,983 205,000 6,433,983 Total Maximum Total Incentive of $4,200,000 4,200,000 Notes: Yaskawa Payment of T raffic Signal Relocation City Reimb. For Traffic Sig nal Relocation Projected TID Closure Annual CumulativeAdmin. Liabilities Outstanding Total Expenditures Expenditures % Increment Applied1 Advance Repayment Traffic Signal Relocation 155% of the tax increment generated annually by the first building receiving occupancy will be paid as an incentive for a term of 10 years. On occupancy of the second building, that building will receive 60% of the tax increment generated by that building for a term of 10 years, and the 60% will be applied to the first building for the remaining term in which it is eligible to receive payments. The third and subsequent buildings will receive 65% under the same terms, which percentage shall also then be applied to the first two buildings for their remaining term of payment. Projected Revenues Tax Increments Interfund Advances Total Revenues Balances Environmental Studies & R emediation Grant Potential Allis Roller Utility Re location Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 28 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. None of the property within the proposed District boundary was annexed during the past three years. SECTION 11: Estimate of Property to Be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 35% 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 City Ordinances Zoning Ordinances The proposed Plan is in general conformance with the City’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 is in general conformance with the City’s Comprehensive Plan identifying the area as appropriate for industrial development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 29 SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should 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 Creation of the Tax Incremental District Promotes the Orderly Development of the City Creation of the District and the implementation of the projects in its Plan will promote the orderly development of the City by creating new industrial sites, providing necessary public infrastructure , and providing appropriate financial incentives for private development projects . Through use of tax increment financing, the City 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 c ompatible with adjacent land uses. The industrial expansion project involves a $1 82 million private capital investment within the proposed District that is expected to create over 1,000 positions with annual salarie s averaging $ 90,000, which will support home ownership, increased population and retail & services markets in the City. In addition to the incremental property value that will be created because of this capital investment, and the long-term employment opportunities, the City expects the Project will result in short -term employment related to the construction and expansion of industrial facilities, and a general increase in commerce and economic activity within the City and region. Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 30 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. 11 Project Plan City of Franklin Prepared by Ehlers Page | 31 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. 11 Project Plan City of Franklin Prepared by Ehlers Page | 32 To Be Inserted Tax Incremental District No. 11 Project Plan City of Franklin Prepared by Ehlers Page | 33 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 Milwaukee County MMSD City of Franklin Franklin School District MATC Total Revenue Year 2028 9,049 3,551 10,184 15,999 2,197 40,980 2028 2029 20,452 8,025 23,015 36,158 4,964 92,614 2029 2030 46,134 18,103 51,916 81,563 11,199 208,916 2030 2031 69,811 27,394 78,561 123,423 16,946 316,136 2031 2032 93,725 36,778 105,472 165,702 22,751 424,428 2032 2033 94,662 37,146 106,527 167,359 22,978 428,672 2033 2034 110,227 43,254 124,043 194,878 26,757 499,159 2034 2035 141,010 55,333 158,684 249,301 34,229 638,557 2035 2036 142,420 55,887 160,271 251,794 34,571 644,943 2036 2037 143,844 56,446 161,874 254,312 34,917 651,392 2037 2038 145,283 57,010 163,492 256,855 35,266 657,906 2038 2039 146,736 57,580 165,127 259,423 35,619 664,485 2039 2040 148,203 58,156 166,779 262,018 35,975 671,130 2040 2041 149,685 58,737 168,446 264,638 36,334 677,841 2041 2042 151,182 59,325 170,131 267,284 36,698 684,620 2042 2043 152,694 59,918 171,832 269,957 37,065 691,466 2043 2044 154,221 60,517 173,550 272,657 37,435 698,380 2044 2045 155,763 61,122 175,286 275,383 37,810 705,364 2045 2046 157,320 61,734 177,039 278,137 38,188 712,418 2046 2047 158,894 62,351 178,809 280,918 38,570 719,542 2047 Totals 2,391,313 938,369 2,691,039 4,227,759 580,466 10,828,946 Tax Incremental District No. 11 City of Franklin, Wisconsin 2 How Tax Incremental Financing Works Tax Increment Equalized Value Time (Max. 20 Years) Baseline Property Value (Approx. $73.4 million) Value After Termination of TIF (Projected $117 million) Creation Termination Captured Value Blue: Base value continues to be part of the general tax base Purple: Increased value “captured” & used to pay costs than enabled redevelopment Green: Full value reverts to general tax base 3 Proposed District Boundary • Yaskawa Campus Development Purpose • 20 Years Maximum Life • Not less than 50% by area of real property within District is suitable for mixed use development (85% of the territory meets this criteria). Required Finding 6/ 2/ 2026 4 Economic Benefits of Proposed TID • Development of headquarters, training, and manufacturing facilities for industrial robots • Approximately 576,000 square feet of new facilities will be constructed as part of the overall 1,043,000 square foot campus representing a $182 million private capital investment • Creation of over 1,000 positions with annual salaries averaging $90,000 • Long-term employment opportunities resulting from the Project will support home ownership, increased population and retail & services markets in the City • Short-term employment related to the construction and expansion of industrial facilities, and a general increase in commerce and economic activity within the City and region Project Cost Est. Cost Development Incentive (Yaskawa)* $4,200,000 Environmental Studies & Remediation Grant (WilCraft Can) $300,000 Traffic Signal Relocation Reimbursement (Yaskawa) $165,000 Utility Relocations (Allis Roller) $300,000 Interest on Advances $114,963 Administrative Expense $205,000 Total $5,284,962 5 Proposed Project Costs * Incentive to be provided on a “Pay as you go” basis • Payable solely from tax incremental revenue generated by District • Subject to annual appropriation by Common Council 6 • Traffic signal relocation from intersection of S. 41st and West Ryan to S. Oakwood Park and West Ryan  Estimate cost of $655,000 to be paid by Yaskawa with $165,000 reimbursement from City if $330,000 DOT grant awarded • Incentive Requirements (Maximum $4,200,000) *Percentage steps up to previously constructed buildings Yaskawa Development Agreement Building Occupancy Deadline Increment Percentage* Latest Payment Date 1 7/30/2028 55% 10/1/2039 2 12/31/2030 60% 10/1/2041 3+ 12/31/2033 65% 10/1/2044 7 Projected Tax Increment Construction Year Value Added Valuation Year Inflation Increment Total Increment Revenue Year Tax Rate Tax Increment 1 2026 2,483,000 2027 0 2,483,000 2028 $16.50 40,980 2 2027 3,103,750 2028 24,830 5,611,580 2029 $16.50 92,614 3 2028 6,990,750 2029 56,116 12,658,446 2030 $16.50 208,916 4 2029 6,370,000 2030 126,584 19,155,030 2031 $16.50 316,136 5 2030 6,370,000 2031 191,550 25,716,581 2032 $16.50 424,428 6 2031 0 2032 257,166 25,973,746 2033 $16.50 428,672 7 2032 4,011,150 2033 259,737 30,244,634 2034 $16.50 499,159 8 2033 8,143,850 2034 302,446 38,690,930 2035 $16.50 638,557 9 2034 0 2035 386,909 39,077,839 2036 $16.50 644,943 10 2035 0 2036 390,778 39,468,618 2037 $16.50 651,392 11 2036 0 2037 394,686 39,863,304 2038 $16.50 657,906 12 2037 0 2038 398,633 40,261,937 2039 $16.50 664,485 13 2038 0 2039 402,619 40,664,556 2040 $16.50 671,130 14 2039 0 2040 406,646 41,071,202 2041 $16.50 677,841 15 2040 0 2041 410,712 41,481,914 2042 $16.50 684,620 16 2041 0 2042 414,819 41,896,733 2043 $16.50 691,466 17 2042 0 2043 418,967 42,315,701 2044 $16.50 698,380 18 2043 0 2044 423,157 42,738,858 2045 $16.50 705,364 19 2044 0 2045 427,389 43,166,246 2046 $16.50 712,418 20 2045 0 2046 431,662 43,597,909 2047 $16.50 719,542 Totals 37,472,500 6,125,409 Future Value of Increment 10,828,946 8 Projected District Cashflow Tax Increment Other Total Dev. Incentives Other Costs Repay Advances Admin. Costs Total Annual Cumulative Liabilities 2026 0 50,000 50,000 0 0 0 50,000 50,000 0 0 51,750 2026 2027 0 965,000 965,000 0 955,000 0 10,000 965,000 0 0 374,411 2027 2028 40,980 134,020 175,000 0 165,000 0 10,000 175,000 0 0 1,211,096 2028 2029 92,614 0 92,614 0 0 40,000 10,000 50,000 42,614 42,614 1,189,514 2029 2030 208,916 0 208,916 57,082 0 50,000 10,000 117,082 91,834 134,448 3,250,493 2030 2031 316,136 0 316,136 62,894 300,000 65,000 10,000 437,894 (121,758) 12,690 3,139,130 2031 2032 424,428 0 424,428 254,657 0 150,000 10,000 414,657 9,771 22,461 4,114,040 2032 2033 428,672 0 428,672 278,637 0 150,000 10,000 438,637 (9,965) 12,496 3,695,507 2033 2034 499,159 0 499,159 281,423 0 153,983 10,000 445,406 53,753 66,249 3,265,308 2034 2035 638,557 0 638,557 415,062 0 0 10,000 425,062 213,495 279,744 2,850,246 2035 2036 644,943 0 644,943 419,213 0 0 10,000 429,213 215,730 495,474 2,431,033 2036 2037 651,392 0 651,392 423,405 0 0 10,000 433,405 217,987 713,461 2,007,629 2037 2038 657,906 0 657,906 427,639 0 0 10,000 437,639 220,267 933,728 1,579,990 2038 2039 664,485 0 664,485 431,915 0 0 10,000 441,915 222,570 1,156,298 1,148,074 2039 2040 671,130 0 671,130 361,716 0 0 25,000 386,716 284,413 1,440,711 786,358 2040 2041 677,841 0 677,841 365,334 0 0 0 365,334 312,508 1,753,219 421,024 2041 2042 684,620 0 684,620 140,262 0 0 0 140,262 544,358 2,297,576 280,763 2042 2043 691,466 0 691,466 141,664 0 0 0 141,664 549,801 2,847,378 139,098 2043 2044 698,380 0 698,380 139,098 0 0 0 139,098 559,282 3,406,660 0 2044 2045 705,364 0 705,364 0 0 0 0 0 705,364 4,112,024 0 2045 2046 712,418 0 712,418 0 0 0 0 0 712,418 4,824,442 0 2046 2047 719,542 0 719,542 0 0 0 0 0 719,542 5,543,984 0 2047 Totals 10,828,946 1,149,020 11,977,967 4,200,000 1,420,000 608,983 205,000 6,433,983 5,543,984 Totals Year Revenues Expenditures Year Balances Cashflow projection indicated TID will recover costs in 2040, seven years prior to end of 20-year maximum life 6/ 2/ 2026 9 Timeline June 11, 2026 Organizational Joint Review Board meeting June 18, 2026 Plan Commission public hearing and consideration of resolution recommending creation of TID 11 to Common Council July 7, 2026 Common Council meeting to consider approval of resolution creating TID 11 Late - July Final Joint Review Board meeting to consider approval of TID 11 creation