6/17/2020 Minutes

MINUTES OF JOINT REVIEW BOARD VILLAGE OF SLINGER June 17, 2020 The annual meeting of the Joint Review Board was called to order by Village Trustee, Dean Otte, at the Village of Slinger Municipal Building at 300 Slinger Road, Slinger, WI, at 8:00am on Wednesday, June 17, 2020 in accordance with the Notice of Meeting delivered to the m embers on Friday, June 12, 2020. 1. Roll Call & Notice of Meeting: Present Absent Dean Otte, Village of Slinger Trustee & Representative x Ethan Hollenberger, Washington County Representative x Pete Rettler, MPTC Representative x Daren Sievers, Slinger School District Representative x Debra Selle, Public Member x _____ _____ 4 1 Also Present: Margaret Wilber, Village Administrator Valerie Knetzger, Village Treasurer Trustee Otte informed the members present that the open meeting law had been complied with in connection with the meeting. Notice of the meeting was sent to all who requested same and posted in three public locations. Attendance or abs ence of the Board members was noted for the record. 2. Review and consideration of minutes from 06/19/2019 Joint Review Board The Board reviewed the minutes from the June 19, 2019 Joint Review Board meeting. Motion Sievers/Rettler to approve the minutes as presented; carried unanimously. 3. Review of annual financial reports a. TID #4 Compilation Report for Period Ending 12/31/2019 Treasurer Knetzger presented the 2019 Compilation Report for TID #4. She explained that this was not a full audit of the district but is a general report created in coordination with the Village’s annual audit process . Trustee O tte mentioned there was verbiage confusion in the report when discussing recapture vs. redevelopment costs. Administrator Wilber confirmed that these descriptions referenced the same thing and that the auditors would fix this in future compilations. Joint Review Board – Village of Slinger June 17, 2020 Page 2 b. TID #5 Compilation Report for Period Ending 12/31/2019 Treasurer Knetzger presented the 2019 Compilation Report for TID #5 and explained that the information was basically a summary of the district’s revenues and expenditures . Administrator Wilber informed the Board that 2019 activity for this district was relatively low and that it is currently in a maintenance mode for now. The Board reviewed both compilation reports. 4. Review of Reports filed with WI Department of Revenue a. 2019 TID Annual Report (PE-300) for TID #4 Treasurer Knetzger stated that th e report and Joint Review Board meeting were established as an annual requirement by the State legislature . It is a summary of revenues and expenditures for each TID, and reviewing this report annually with the taxing jurisdictions is how everyone stays informed on ho w our TID’s are performing. Treasurer Knetzger discussed the report and stated that the TID was doing well and that the surpluses achieved helped pay down debt. Administrator Wilber affirmed that the outlook for next year looks positive due to the Stonefield Terrace apartments which are breaking ground in 2020. b. 2019 TID Annual Report (PE-300) for TID #5 Treasurer Knetzger presented the 2019 report for TID #5 . She informed the Board that this TID continues achieving a surplus even with its limited activity. Administrator Wilber mentioned that the 1 property not E.H. Wolf -owned is working with the building inspector to bring their building up to code. There are already plans for minor repairs to be done. The Board reviewed both annual reports and agreed that they were complet e and acceptable as presented. 5. TID Valuations a. 2019 Changes in TID Value Report The Board reviewed the 2019 Statement of Changes in TID Value rep orts. Treasurer Knetzger stated that TID #4 has increased in value by $1,887,900 or 18%. She stated this is very similar to last year’s 20% and is forecasting continued growth mainly due to the Stonefield Terrace apartments being built on American Eagle Drive . Treasurer Knetzger stated that TID #5 gained 30% in value or $1,272,500. She informed the Board that it was significantly lower than last year’s 144% increase but still very respectable. The Board agreed that both TIDs are making steady progress. Joint Review Board – Village of Slinger June 17, 2020 Page 3 b. TIF Value Limitation Report Treasurer Knetzger mentioned that the Village’s 2019 equalized value (EV) increased again by over 9% and that the 2 districts combined equaled 2.20% of the Village’s 2019 EV which is far below the maximum of 12% of EV . Treasurer Knetzger explained this large increase was a combination of new construction, which was 3.78% for 2019, and continued increases in market values. She further stated t he Village met with the assessor at the Board of Review, and he does not foresee any reappraisals due to the pandemic. 6. Status of TID Projects a. TID #4 Project Status Report b. TID #5 Project Status Report Treasurer Knetzger presented the 2019 Project Status Reports for both districts and the Board discussed the reported activity in both districts. Administrator Wilber mentioned that TID #4’s expenses were expected to increase in 2020 due to the Stonefield Terrace activity. V. Adjournment Motion Sievers/Selle to adjourn at 8:15am; carried unanimously. Approved By: ________________________________________________ Dean Otte, Village Trustee Drafted By: Valerie Knetzger, Treasurer