Joint Review Board Packet 07.31.2025

VILLAGE OF MARATHON CITY, MARATHON COUNTY, WISCONSIN AGENDA JOINT REVIEW BOARD TAX INCREMENT DISTRICTS NO. 1 & 2 THURSDAY, JULY 31, 2025 – 9:30 A.M. PUBLIC VIRTUAL ACCESS Join Teams Meeting: https://www.microsoft.com/en-us/microsoft-teams/join-a-meeting Meeting ID: 287 258 794 798 3 Passcode: ZY9hW6yQ Notice Posted at the Municipal Center Notice Received by Record-Review DATE: July 22, 2025 DATE: July 22, 2025 TIME: 2:30 pm TIME: 2:30 pm ________________________________________________________________________________________________________ 1. CALL TO ORDER ROLL CALL: L. LEONARD, C. HOLMAN, B. SEUBERT, K. HANDRICK JR., C. RICKERT, T. VETTER 2. PLEDGE OF ALLEGIANCE 3. APPROVAL OF MINUTES OF PREVIOUS MEETINGS a. July 22, 2024 – 2024 Joint Review Board Meeting 4. REVIEW OF TID NO. 1 2025 ACTIVITIES AND FINANCIALS 5. REVIEW OF TID NO. 2 2025 ACTIVITIES AND FINANCIALS 6. ADJOURNMENT Steven Cherek Administrator VILLAGE OF MARATHON CITY, MARATHON COUNTY, WISCONSIN AGENDA JOINT REVIEW BOARD TAX INCREMENT DISTRICTS NO. 1 & 2 WEDNESDAY, JULY 22, 2024 – 9:30 A.M. VIRTUAL MEETING ________________________________________________________________________________________________________ 1. CALL TO ORDER ROLL CALL: L. LEONHARD, B. SEUBERT, K. HANDRICK JR., C. STREBE, T. VETTER, C. HOLMEN Absent form Joint Review Board Meeting were Leonhard and Holmen. Strebe joined virtually. 2. PLEDGE OF ALLEGIANCE 3. APPROVAL OF MINUTES OF PREVIOUS MEETINGS a. July 19, 2023 – 2023 Joint Review Board Meeting Motion – Approve Minutes of July 19, 2023 Joint Review Board Meeting. Motion was made by Strebe, second by Seubert. Motion was passed by a voice vote. 4. REVIEW OF TID NO. 1 2024 ACTIVITIES AND FINANCIALS Administrator Cherek provided an update on TID 1. This Financial District was created in 2002 with a base valuation of $7,361,400. Amendments were made over the years, including borrowing and investment for development. Initial construction occurred on the south side in 2003–2004, with development on the north side beginning in 2019. At the end of 2023, TID 1 has an assessment value of $38,235,900. Current projects include a new Kwik Trip and a Menzner Hardwoods expansion along with the completion of North Business Parkway utility/road construction. Estimated TID cost to complete the remaining work on is $1,912,395.19. North Business Parkway is under construction, with blacktop installation near Kwik Trip scheduled in the coming weeks. The remaining gravel road will be paved and curbed next year. TID 1 is at the end of its expenditure period, so no new construction projects can be taken and financed by this TID District. Kwik Trip is expected to add $2,500,000 in assessed value for 2025; Menzner’s project is valued at $11,500,000 and completed in 2026. The TID currently shows a negative balance of $179,671 but with current development agreements signed and in place, it is expected to end positive with a surplus projected at $40,328 by 2035. Trustee Vetter asked about additional housing, but it was noted the TID is at full capacity with multiple Swiderski buildings already constructed. Discussion followed regarding a potential traffic study, stoplights or roundabout installation, and possible speed limit reduction upon Kwik Trip’s opening. 5. REVIEW OF TID NO. 2 2024 ACTIVITIES AND FINANCIALS Administrator Cherek provided an update on Tax Increment District (TID) No. 2. The district was established in 2016 with a base value of $1,146,800. It was created to address blighted properties within Marathon City and to support the redevelopment of the Downtown area. Since its creation, the assessed value within TID 2 has increased to $6,428,700, largely due to the Marathon Cheese expansion. The Village continues to actively promote economic development, with a particular focus on opportunities in the 400 Block. Currently, TID 2 is operating at a deficit due to limited development activity. As a result, the TID has been borrowing from the General Fund to support ongoing expenses. Development opportunities remain available in the 400 Block and on the lot located behind the R-Store. Additionally, construction of the new baseball fields is underway, which may impact the future use of the former Veterans Park site. 6. ADJOURNMENT A motion to adjourn the meeting was made by Vetter, second by Strebe. Motion carried by voice vote. Anita Krautkramer Clerk/Deputy Treasurer Marathon City – Administrator 311 Walnut Street PO Box 487 Marathon City, WI 54448 (715) 443-2221 2025 TID ACTIVITIES REPORT TID #1 Construct N Business PKWY from STH 107 to N 152 Ave $879,249.81 TID 1 – Balance Project Remaining for projects started prior to expenditure period Menzner Hardwoods Business Expansion construction started to be completed by end of 2026 Dollar General – Development Agreement in place, corporate contract still needed. Continued Negotiations with developers for sale of remaining lots inside TID 1. TID #2 2024 the Village split $606,250 advance from the General Fund with Utility Fund TID #2 to pay for the TID #2 deficit over the years. This was needed due to low fund balance in the Village General Fund from the past advances given to TID #2 Efforts continue to secure a developer for the 400 Block of Marathon City. WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type TID number TID type TID name Creation date Mandatory termination date Anticipated termination date Section 2 – Beginning Balance Amount TID fund balance at beginning of year 37151 MARATHON CITY MARATHON 07/01/2025 ORIGINAL 001 99 TID No 1 01/03/2002 01/03/2035 N/A $-179,671 Section 3 – Revenue Amount Tax increment Investment income Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID $730,724 $2,038,791 $13,646 Developer guarantees Transfer from other funds Grants Other revenue Total Revenue (deposits) $2,783,161 Page of 1 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 4 – Expenditures Amount Capital expenditures Administration Professional services Interest and fiscal charges DOR fees Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID $1,492,283 $48,562 $79,481 $254,287 $150 $508,942 Developer grants Developer name JDEM Properties $31,250 Transfer to other funds Other expenditures Total Expenditures $2,414,955 Section 5 – Ending Balance Amount TID fund balance at end of year Future costs Future revenue Surplus or deficit $188,535 $11,112,053 $11,144,315 $220,797 Page of 2 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Current Year TID New Construction Values TID TID New Construction Increase TID New Construction Decrease Prior Year Correction TID Net New Construction (NNC) Section 6 – TID New Construction 001 $5,676,100 $0 $-121,700 $5,554,400 002 $0 $0 $-71,200 $-71,200 Total $5,676,100 $0 $-192,900 $5,483,200 Current Year Allowable Levy Increase Attributable to TID NNC TID TID Net New Construction Prior Year Municipal Equalized Value TID Net New Construction % Prior Year Adjusted Actual Levy Allowable Levy Increase Attributable to TID Net New Construction 001 $5,554,400 $198,616,200 2.80 $881,784 $24,690 002 $-71,200 $198,616,200 -0.04 $881,784 $-353 Total $5,483,200 $198,616,200 2.76 $881,784 $24,337 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Historical Allowable Levy Increase Attributable to TID NNC Year TID TID Net New Construction TID Net New Construction % Allowable Levy Increase Attributable to TID Net New Construction Prior Year Adjusted Actual Levy Prior Year Municipal Equalized Value 2023 001 $-273,900 $201,342,800 -0.14 $866,006 $-1,212 2023 002 $25,800 $201,342,800 0.01 $866,006 $87 2023 Total $-248,100 $201,342,800 -0.13 $866,006 $-1,126 Page of 3 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 7 – Preparer/Contact Information Preparer name Preparer title Preparer email Preparer phone Contact name Contact title Contact email Contact phone Steven Cherek Treasurer (715) 443-2221scherek@marathoncitywi.gov Steven Cherek Treasurer (715) 443-2221scherek@marathoncitywi.gov Submission Information Co-muni code TID number Submission date Confirmation Submission type 37151 001 06-25-2025 02:26 PM TIDAR20241013O1750687279553 ORIGINAL Page of 4 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 1 – Municipality and TID Co-muni code Municipality County Due date Report type TID number TID type TID name Creation date Mandatory termination date Anticipated termination date Section 2 – Beginning Balance Amount TID fund balance at beginning of year 37151 MARATHON CITY MARATHON 07/01/2025 AMENDED 002 6 TID #2 06/20/2016 06/20/2036 N/A $4,536 Section 3 – Revenue Amount Tax increment Investment income Debt proceeds Special assessments Shared revenue Sale of property Allocation from another TID $122,859 $1,590 Developer guarantees Transfer from other funds Grants Other revenue Source MISC - Reimbursement/Overpayment $31 Total Revenue (deposits) $124,480 Page of 1 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 4 – Expenditures Amount Capital expenditures Administration Professional services Interest and fiscal charges DOR fees Discount on long-term debt Debt issuance costs Principal on long-term debt Environmental costs Real property assembly costs Allocation to another TID $18,205 $1,840 $24,150 $150 $110,000 Developer grants Developer name N/A $0 Transfer to other funds Other expenditures Name Write Down land asset held for resale, Park $276,029 Total Expenditures $430,374 Section 5 – Ending Balance Amount TID fund balance at end of year Future costs Future revenue Surplus or deficit $-301,358 $1,745,908 $1,716,900 $-330,366 Page of 2 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Current Year TID New Construction Values TID TID New Construction Increase TID New Construction Decrease Prior Year Correction TID Net New Construction (NNC) Section 6 – TID New Construction 001 $5,676,100 $0 $-121,700 $5,554,400 002 $0 $0 $-71,200 $-71,200 Total $5,676,100 $0 $-192,900 $5,483,200 Current Year Allowable Levy Increase Attributable to TID NNC TID TID Net New Construction Prior Year Municipal Equalized Value TID Net New Construction % Prior Year Adjusted Actual Levy Allowable Levy Increase Attributable to TID Net New Construction 001 $5,554,400 $198,616,200 2.80 $881,784 $24,690 002 $-71,200 $198,616,200 -0.04 $881,784 $-353 Total $5,483,200 $198,616,200 2.76 $881,784 $24,337 Current Year Actual TID NNC Impact to Municipal Levy Levy Increase Attributable to TID Net New Construction Increase per $100,000 $0 $0 Historical Allowable Levy Increase Attributable to TID NNC Year TID TID Net New Construction TID Net New Construction % Allowable Levy Increase Attributable to TID Net New Construction Prior Year Adjusted Actual Levy Prior Year Municipal Equalized Value 2023 001 $-273,900 $201,342,800 -0.14 $866,006 $-1,212 2023 002 $25,800 $201,342,800 0.01 $866,006 $87 2023 Total $-248,100 $201,342,800 -0.13 $866,006 $-1,126 Page of 3 4 WI Dept of Revenue TID Annual Report Form PE-300 2024 Section 7 – Preparer/Contact Information Preparer name Preparer title Preparer email Preparer phone Contact name Contact title Contact email Contact phone Steven Cherek Treasurer (715) 443-2221scherek@marathoncitywi.gov Steven Cherek Treasurer (715) 443-2221scherek@marathoncitywi.gov Submission Information Co-muni code TID number Submission date Confirmation Submission type 37151 002 06-25-2025 02:30 PM TIDAR20241013A1750879787349 AMENDED Page of 4 4