Economic Development Commission — Agenda Packet

MEETING: REGULAR MEETING OF THE ECONOMIC DEVELOPMENT COMMISSION DATE & TIME: Tuesday, February 10, 2026 at 6:00 PM LOCATION: Germantown Village Hall Board Room N112 W17001 Mequon Road Any member of the body and/or citizen may attend the meeting virtually through the WebEx platform, Meeting #: 2553 499 7080 Password: nBNrkwyj267 which can be accessed by phone at 408-418-9388 or by clicking the link below: https://villageofgermantown.my.webex.com/villageofgermantown.my/j.php?MTID=m1666b64b10c3c10021fac1cb82ed04dd NOTICE: Citizens not wishing to attend the meeting personally or virtually may submit any public comments by sending an email to comments@germantownwi.gov by 4 p.m. on the day of the meeting so that it can be provided to the members of the body for their consideration. Previously recorded Meeting Videos can be viewed at https://www.youtube.com/channel/UCOYp0EgELzTCa9X_iCohyhQ AGENDA I. CALL TO ORDER: This meeting has been given public notice in accordance with Section 19.83 and 19.84, Wis. Stats, in such form that will apprise the general public and news media of subject matter that is intended for consideration and action. II. ROLL CALL: III. ANNOUNCEMENTS: IV. CITIZEN INPUT: (Please be advised per 19.84(2) that information and comment will be received from the public. It is the policy of this municipality that public input be limited to a four (4) minute period per person with a time extension granted at the discretion of the Chairperson. Be advised that there may be limited discussion of the information received but no action will be taken under public comments.) Comments that may be injurious to village personnel or other individuals will not be allowed. V. MEETING MINUTES: A. January 13, 2026, Meeting Minutes (ACTION) VI. BUSINESS DEVELOPMENT LOAN POOL APPLICATIONS: A. Germantown Business Development Loan Pool Application: Brandon Medved, Brandon Medved Photography, LLC DBA Bright Eyed Productions (ACTION) VII. UNFINISHED BUSINESS: A. Operation Storefront Update 1. List of Empty Warehouses for Lease with Square Footage (DISCUSSION AND POSSIBLE ACTION) 2. List of Available Lots for Sale in the Village of Germantown (DISCUSSION AND POSSIBLE ACTION) 3. List of Empty Box Stores on County Line Road (DISCUSSION AND POSSIBLE ACTION) VIII. NEW BUSINESS: Page 1 of 54 ECONOMIC DEVELOPMENT COMMISSION AGENDA February 10, 2026 Page 2 A. Germantown Business Loan Pool Monthly Report - Application Update (DISCUSSION) B. Report from EDWC on Flamingo Marine Expansion in Germantown and Discussion on EDWC Support for the Village (PRESENTATION) C. Discussion Regarding EDC's Advisory Role to the Plan Commission (DISCUSSION) D. Discussion Regarding the March 9, 2026, Presentation to the Tourism Commission for the "Celebrate Germantown" Marketing Campaign (DISCUSSION) IX. NEXT MEETING: A. Tuesday, March 10, 2026 X. ADJOURNMENT: UPON REASONABLE NOTICE, efforts will be made to accommodate the needs of disabled individuals through appropriate aids and services. For additional information or to request this service, please contact the Village Clerk at (262)250-4745 at least 2 days prior to the meeting. Notice is hereby given that a possible quorum of other boards, committees, and/or commissions may attend this meeting to gather information about an item over which they have decision-making responsibility. This may constitute a meeting of these bodies per State ex rel. Badke v Greendale Village Board, even though these bodies will not take formal action at this meeting. Page 2 of 54 MEETING: REGULAR MEETING OF THE ECONOMIC DEVELOPMENT COMMISSION DATE AND TIME: Tuesday, January 13, 202 6 6:00 PM LOCATION: Germantown Vi llage Hall Board Room N112 W17001 Mequon Road MINUTES I. CALL TO ORDER: This meeting has been given public notice in accordance with Section 19.83 and 19.84, Wis. Stats, in such form that will apprise the general public and news media of subject matter that is intended for consideration and action. Chai rperson Trustee Jan Miller called the Economic Development Commission meeting to order at 6:01 PM. II. ROLL CALL: Present: Trustee Jan Miller, Trustee Kristen Borst, Member Joletta Kerpan, Member Scott Hefle, Member Melanie Smythe, Member Jeffrey Voyer Excused: Member Jim Sedgwick Also Present: Deputy Clerk Maddy Laufenberg, Village President Bob Soderberg III. ANNOUNCEMENTS: Commissioner Smythe spoke about her recent efforts to meet local hotel owners, and her citizen comments given to the Plan Commission. Chairperson Trustee Jan Miller spoke about the recent deaths of Germantown residents Ken Miller and Russ Wendland, and the upcoming Mid-Moraine Municipal Association Legislative Committee meeting and Dinner meeting. IV. CITIZEN INPUT: (Please be advised per 19.84(2) that information and comment will be received from the public. It is the policy of this municipality that public input be limited to a four (4) minute period per person with a time extension granted at the discretion of the Chairperson. Be advised that there may be limited discussion of the information received but no action will be taken under public comments.) Comments that may be injurious to village personnel or other individuals will not be allowed. Lynne Schauer Bednarz (W156N10121 Pawnee Ct) spoke regarding the Village budget and the 2050 Comprehensive Plan. Trustee David Baum (N128W12442 Highland Rd) spoke regarding Unfinished Business Item C (Operation Storefront Update). DRAFT Page 3 of 54 Page 2 V. MEETING MINUTES: A. December 9, 2025 (ACTION) Motion: Approve as presented Motioned By: Kristen Borst Seconded By: Jeffrey Voyer Yes: Jan Miller, Kristen Borst, Joletta Kerpan, Scott Hefle, Melanie Smythe, Jeffrey Voyer No: None Abstain: None Motion Carried by Voice Vote (Yes 6, No 0, Abstained 0) VI. UNFINISHED BUSINESS: A. Germantown Marketing Campaign - EDC Commissioners Ideas for a Marketing Campaign with Videos (DISCUSSION AND POSSIBLE ACTION) Motion: Request that the Tourism Commission Takes on Unfinished Business Items A & B (Germantown Marketing Campaign) Motioned By: Melanie Smythe Seconded By: Jeffrey Voyer Yes: Jan Miller, Kristen Borst, Joletta Kerpan, Scott Hefle, Melanie Smythe, Jeffrey Voyer No: None Abstain: None Motion Carried by Voice Vote (Yes 6, No 0, Abstained 0) B. Formerly "Celebrate Germantown" Campaign - EDC Commissioners Ideas for New Name (DISCUSSION AND POSSIBLE ACTION) C. Operation Storefront Update Village President Soderberg provided context regarding empty storefronts and his work compiling the Operation Storefront documents. 1. List of Empty Warehouses for Lease with Square Footage (DISCUSSION AND POSSIBLE ACTION) 2. List of Available Lots for Sale in the Village of Germantown (DISCUSSION AND POSSIBLE ACTION) DRAFT Page 4 of 54 Page 3 3. List of Empty Box Stores on County Line Road (DISCUSSION AND POSSIBLE ACTION) D. Germantown Business Loan Pool Monthly Report - YTD Update Regarding Number of Applications (DISCUSSION) Updates were provided by Chairperson Trustee Jan Miller regarding her upcoming meeting with Bank FiveNine to restructure the loan pool application. She also shared a goal of hosting 2–3 loan pool seminars each year to market the program to local businesses. E. Beautification of Germantown (DISCUSSION) Discussion ensued regarding a potential future budget for beautification projects. VII. NEW BUSINESS: A. Report from EDWC on Flamingo Marine Expansion in Germantown (PRESENTATION) At the request of Chairperson Trustee Jan Miller, this item is tabled until the next Economic Development Commission meeting. VIII. NEXT MEETING DATES: A. February 10, 2026 B. March 10, 2026 IX. ADJOURNMENT: Motion: Adjourn at 7:11 PM Motioned By: Scott Hefle Seconded By: Melanie Smythe Yes: Jan Miller, Kristen Borst, Joletta Kerpan, Scott Hefle, Melanie Smythe, Jeffrey Voyer No: None Abstain: None Motion Carried by Voice Vote (Yes 6, No 0, Abstained 0) DRAFT Page 5 of 54 Page 6 of 54 Page 7 of 54 Page 8 of 54 Page 9 of 54 Page 10 of 54 Page 11 of 54 Page 12 of 54 Page 13 of 54 Vittage of Germantown Industria[ Vacancy Rate Data provided on a one-time basis by an industrial reat estate broker. The numbers were extrapol,ated from report devetoped by the CommerciaI Association of Reattor Wisconsin (CARW) for the Northwest I nd ustriaI Su bma rket. Prod Type I lnventoryi 1 Vacancy Rat.1 YrD Netj Absorption] Avg. Net Aski Rental Re Cl,ass A 3,791, 19. 86,9 Ctass B 2,197 0. 4,27 $0. Ftex 339,1 9 $4. User Owned 4,883,4151 o.oo/ol 252,0501 N/A TOTALS 11,21 1,6881 7.2o/ol 349,7091 $6.40 Key Points and Caveats: o Overatl submarket vacancy rate is 4.50/0. o Vacancy rate is higher in Germantown because most of the new space has been buitt here. o Net absorption rate of Ctass A space tor 2025 witt tikety be about 200,000 sq. ft. . Average net absorption rate for Ctass A space has been about 990,000 sq. ft. for the last six years. o Absorption rate is bel,ow average this year due to uncertainty retated to tariff and interest rates. o Vi1tage's current vacant class A space (about 754,000 sq. ft.) represents less than one-year typicat absorption rate. o Takes about 2 years from initial ptanning to occupancy. Page 14 of 54 Economic Development Commission Operation Storefront Inventory of Known Vacant Retail Sites • County Line Corridor • Mequon Road Corridor • Main Street Corridor Data Current as of December 06, 2025 Source: Bob Soderberg, Village President Page 15 of 54 County Line Corridor Page 16 of 54 County Line Corridor – Former Shepard Arms Miscellaneous Information • Leasing Agent: Re/Max, Mark Kivley, 414- 967-0506 • Previous Tenants: Shepard Arms. Current tenant is Natures Healing Day Spa. • Vacancy: Site has two spaces with one being vacant or 50% vacant. Page 17 of 54 County Line Corridor - Former KFC Restaurant Miscellaneous Information • Leasing Agent: Unknown • Previous Tenant: KFC restaurant • Vacancy: Site has one space or 100% vacant. Page 18 of 54 County Line Corridor – Rivers Edge Plaza Miscellaneous Information • Leasing Agent: Unknown, but owner is Marshall Peebles, Butler, WI • Previous Tenant: A Cut A Head • Vacancy: Site has one space and is 100% vacant. Page 19 of 54 County Line Corridor – Germantown Plaza Miscellaneous Information • Leasing Agent: Colliers, Russ Sagmoen, 414- 276-9500 • Previous Tenant: Pier 1 • Vacancy: Site has four spaces with one being vacant or 25% vacant. • Agent Comments: Very difficult to get traditional retail to lease space due to lack of traffic (roof tops). Opportunity could be for a Goldfish Swim School or similar retail establishment. Page 20 of 54 County Line Corridor – Germantown Plaza II Miscellaneous Information • Leasing Agent: Unknown, but owner is Athony Palermo, AAP Properties, LLC, Milwaukee, WI • Previous Tenants: TJ Maxx, Bed Bath & Beyond and World Market • Vacancy: Site has five spaces with four being vacant or 80% vacant. Sally Beauty Supply is the only tenant. • Comments: Based on comments from Colliers Leasing Agent, traditional retail to backfill site will be challenging absent additional traffic (roof tops). Opportunity could be for a Pickle Ball, Indoor Golf , and Market Place to fill empty spaces. Village President is contacting Mr. Palermo. Page 21 of 54 County Line Corridor – Dollar Tree Plaza Miscellaneous Information • Leasing Agent: Founders 3, 414-271-1111 • Previous Tenants: Unknown • Vacancy: Site has five spaces with two being vacant or 40% vacant. • Comments: Based on comments from Colliers Leasing Agent, traditional retail to backfill site may be challenging absent additional traffic (roof tops). Page 22 of 54 Mequon Road Corridor Page 23 of 54 Mequon Road Corridor – Sendik’s Village Centre Miscellaneous Information • Leasing Agent: CBRE, 414-273-0880 • Previous Tenants: Unknown • Vacancy: Site has 17 spaces with one being vacant (inside shop) or 5.9% vacant. Page 24 of 54 Mequon Road Corridor – Germantown Marketplace (Pick n Save) Miscellaneous Information • Leasing Agent: Mid America, 414-273-4600 • Previous Tenants: Unknown • Vacancy: Site has 14 spaces with two being vacant or 14.3% vacant. Page 25 of 54 Mequon Road Corridor – Germantown Center Building #1 Miscellaneous Information • Leasing Agent: Mid America, 414-273-4600 • Previous Tenants: China Kitchen. Current tenants include Germantown Cleaners and Salon Service Group. • Vacancy: Site has 4 spaces with two being vacant or 50% vacant. Page 26 of 54 Mequon Road Corridor – Germantown Center Building #2 Miscellaneous Information • Leasing Agent: Mid America, 414-273-4600 • Previous Tenants: Unknown. Current tenants include Stix Golf Entertainment and Edward Jones Investment. • Vacancy: Site has 4 spaces with two being vacant or 50% vacant. Page 27 of 54 Mequon Road Corridor – Former Kwik Trip Miscellaneous Information • Selling Agent: KT Real Estate Holdings, Lacrosse, WI • Previous Tenant: Kwik Trip • Vacancy: Site has 1 space and is 100% vacant. • KT Real Estate has stated that they will sell the location along with an adjoining lot. Page 28 of 54 Main Street Corridor Page 29 of 54 Main Street Corridor – Former Gehl’s Office Miscellaneous Information • Leasing Agent: Unknown • Previous Tenant: Gehl's • Vacancy: Site has 1 spaces and is 100%. • Possible re-development location for retailer or restaurant. Page 30 of 54 Main Street Corridor – Former Citizen's Bank Miscellaneous Information • Leasing Agent: Unknown, but rent sign is visible. • Previous Tenant: Citizen’s Bank • Vacancy: Site has 1 spaces and is 100%. • Possible re-development location for retailer or restaurant. Page 31 of 54 Main Street Corridor – Former Barley Pop Pub & Restaurant Miscellaneous Information • Leasing Agent: Troy Schmidt is the current owner. • Previous Tenant: Barley Pop Pub with Trible B’s Backyard BBQ leasing the second space. • Vacancy: Site has 2 spaces and 1 space is vacant or 50%. • Possible re-development location for retailer or restaurant. Page 32 of 54 END Page 33 of 54 Presented by: Christian Tscheschlok CEO February 10, 2026 Germantown Economic Development Commission Briefing Page 34 of 54 CEO Background • 25+ years of rural and urban economic development and redevelopment experience • Over 15 years leading EDWC • Awarded North America’s Top 50 Economic Developer Designation (2025, Consultant Connect) • Graduate of Oklahoma University’s Economic Development Institute • International Economic Development Council Certified Economic Developer 2009-2021 • U.S. Peace Corps Volunteer (Slovakia 1996-99) • MBA from Western Illinois University; BA University of Illinois Urbana-Champaign • Enjoys collecting & shooting firearms, backcountry trekking, cooking, reading, & travel © 2026 EDWC. All rights reserved. edwc.org Christian Tscheschlok Page 35 of 54 How EDWC Gets Stuff Done © 2026 EDWC. All rights reserved. edwc.org EXISTING BUSINESS EXPANSION NEW BUSINESS RECRUITMENT REDEVELOPMENT & REVITALIZATION START-UP BUSINESS GROWTH DATA ANALYSIS & INSIGHTS Fuel for Each Segment How We Do It Unparalleled Expertise Tools We Use Capital Seamlessly lead, manage and execute from estimating to structuring to closing Reverse-engineered incentives; proforma to optimal combination; deal-structuring $20M portfolio; TIF; loan segments; IP of our “project” proforma workbook Consulting Uncover “what matters,” analyze options, build opportunity, secure results See into, through and around nearly all sides of a project; build win-win IP of our “business park” proforma workbook; agreement templates; network Workforce Leverage data, technologies and existing workers to build a pipeline for businesses Focus on tactics with immediate impact; forge solutions where none exists Lightcast; Employee Net Promotor Score Service; Heart & Homestead; network Analytics Simplify complex datapoints into actionable intel; find patterns in seeming “chaos” “Work” the “right” databases to uncover insights others don’t find or see Lightcast; ESRI Business Analyst; ImpactDashboard; Moody’s Real Estate Page 36 of 54 How EDWC Connects with Economic Development Projects © 2026 EDWC. All rights reserved. edwc.org Ways projects find EDWC How EDWC qualifies opportunities EDWC next steps P Partner referrals Banks/lenders • accountants • brokers contractors • developers • utilities chambers • nonprofits G Government referrals Municipalities • WashCo state agencies • regional partners (M7) B Direct from businesses Inbound calls/emails • walk-ins existing relationships • word of mouth O Online discovery Website/webforms • social media newsletters • events • search R Proactive outreach EDWC outreach • cold calls databases/lists • industry directories EDWC Way • Conduct due diligence • Uncover “what matters” • Clarify goals and project needs • Identify the right partners and resources • Structure the best EDWC support path After qualifying, EDWC will: Connect Introduce the business to the right partners and EDWC services. Fuel Explore funding options and incentives if applicable. Refer If it’s not an EDWC fit, connect them to the best next resource. Nurture Stay in touch & deepen relationship for future growth projects. Page 37 of 54 Mission-Centered Impact of this Work © 2026 EDWC. All rights reserved. edwc.org 2030 Total New Capital Investment target is $500M 2030 Total Net Public Benefit Target is $50M 2030 New Direct Payroll Target is $1B New Private Investment New Direct Payroll Indirect Payroll Created Net Public Benefits Washington County Economy Calculations based on data provided at time of closing. Analysis period various based on project dynamics. Assumptions used (including tax rates) are at time of project. Data 2008 through 2/2/2026. Jobs Private Investment Growth Wins Net Public Benefit Page 38 of 54 What Matters: Prosperous Lives © 2026 EDWC. All rights reserved. edwc.org Page 39 of 54 What Matters: Reducing Taxpayer Burden © 2026 EDWC. All rights reserved. edwc.org Germantown $10.4 million in Fiscal Benefits (8,281 Households) Page 40 of 54 © 2026 EDWC. All rights reserved. edwc.org IMPACT LOAN FUND MISSION Leverage new private sector investment to successfully accelerate business growth in Washington County, provide catalytic impact within communities and generate quality opportunities for workers. VISION Recognized by the taxpayers of Washington County as a highly prized reinvestment of sales tax dollars into a powerful growth engine empowering new business opportunity and prosperous lives countywide . Page 41 of 54 Portfolio Segments © 2026 EDWC. All rights reserved. edwc.org Core Loans 20 - $6,235,637 Developer 3 - $776,846 Start-up 3 - $320,191 Small Biz 7 - $98,439 Brownfield 4 - $1,169,066 Housing 1 - $500,000 Data as of 11/30/2025 Page 42 of 54 © 2026 EDWC. All rights reserved. edwc.org 2008 - 2025 Page 43 of 54 Impact Loans Provided in Germantown © 2026 EDWC. All rights reserved. edwc.org Company Address Industry Segment Kivy LLC N114 W18605 Clinton Drive Manufacturing Mahuta Tool Corp N118 W19137 Bunsen Drive Manufacturing Kessler's Diamond Center N96 W16920 County Line Rd Retail Harrigan Solutions N106 W13131 Bradley Way Distribution Northwestern Extract W194 11250 McCormick Dr. Manufacturing Nova-Kem N115 W19392 Edison Dr Manufacturing Sterling Pharma (Cambridge Major Labs) W130 N10437 Washington Dr Medical Trans-Coil W132 N10611 Grant Dr Manufacturing Machining Concepts W188 N12012 Maple Rd Manufacturing JW Speaker N120 W19434 Freistadt Rd. Manufacturing Ethoplex N115 W19150 Edison Dr Service Old Germantown W148 N12696 Pleasant View Dr. Hospitality Techplex N115 W19150 Edison Dr Service Aluminum Unlimited N104 W16768 Donges Bay Rd Retail District One LLC W140 N10385 Fond du Lac Ave Developer K Smith Fitness Germantown W175N11162 Stonewood Dr Retail M.S.T.L.C. LLC W210 N10738 Appleton Ave. Retail Techplex LLC N115W19150 Edison Dr Service Motis W210 N12975 Gateway Crossing Manufacturing Village Services W172 N12185 Division Rd. Service Prescription Analytics N114 W18770 Clinton Dr. Medical Page 44 of 54 © 2026 EDWC. All rights reserved. edwc.org $25K Small Biz loan in Germantown to help give the building a face lift and resurface the parking lot Page 45 of 54 © 2026 EDWC. All rights reserved. edwc.org $1,500,000 Impact Loan in Germantown to redevelop an existing warehouse into a new HQ Present Value of Net Public Benefits $1,041,491 after incentives Page 46 of 54 © 2026 EDWC. All rights reserved. edwc.org GERMANTOWN CASE STUDY Flamingo Marine Attraction Project Page 47 of 54 © 2026 EDWC. All rights reserved. edwc.org Page 48 of 54 © 2026 EDWC. All rights reserved. edwc.org Page 49 of 54 © 2026 EDWC. All rights reserved. edwc.org Page 50 of 54 © 2026 EDWC. All rights reserved. edwc.org Page 51 of 54 © 2026 EDWC. All rights reserved. edwc.org Page 52 of 54 © 2026 EDWC. All rights reserved. edwc.org PROPOSAL UNDERWRITING TERM SHEET AGREEMENTS CLOSE Page 53 of 54 © 2026 EDWC. All rights reserved. edwc.org • March 2025 – Zilber requests EDWC help with an attraction project to lease space in existing Building #6 • July 2025 – EDWC, WEDC & Zilber visit with Flamingo at their Grafton location to explore project opportunity • August 2025 – gather data; build project proforma & impact analysis; internal discussions with G-town • August 22, 2025 – propose deal structure and incentives to Flamingo (via joint proposal letter) • October 2025 – company provides incentive application; EDWC conducts underwriting & diligence • November 2025 – EDWC Loan Committee approves $750K forgivable loan w/ earned, performance-based TID #8 PayGo repayment; issue term sheet for the deal • January 2026 – EDWC drafts model IGA for Washington County and Germantown consideration • February 2026 – anticipated closing Timeline © 2025 EDWC. All rights reserved. edwc.org “Thank you for your assistance with, and support of Flamingo. The financial assistance package you put together with Germantown / Washington County / EDWC was impactful and well received.” – Todd Battle, Zilber Property Group Page 54 of 54