Joint Review Board Meeting - TID 14

Notice and Agenda City of Hartford Tax Incremental District Number 14 Joint Review Board Meeting #3 Date: September 9, 2026 Time: 6:00 p.m. Common Council Chambers Lower Level City Hall - 109 North Main Street ____________________________________________________________________________________________ 1. Call to Order 2. Roll Call 3. Appearances 4. Approval of Minutes of July 16, 2026 5. Resolution #JRB1: Review of Corrected Resolution - Consideration of Findings and Approval of the Project Plan and Boundaries for Tax Incremental District Number Fourteen (TID 14), City of Hartford with a TID Termination Date in 2046. 6. Adjournment The Joint Review Board reserves the right to alter the presentation schedule as circumstances warrant. “Persons with disabilities requiring special accommodations for attendance at the meeting should contact City Clerk at least one (1) business day prior to the meeting.” “Members of the Common Council may attend the above meeting. Pursuant to State ex. rel. Badke v. Greendale Village Board , 173 Wis.2d 553, 494 N W 2d 408 (1993) such attendance may be considered a meeting of the Common Council. This notice is given so that members of the Common Council may attend the meeting without violating the open meeting law.” MINUTES OF THE CITY OF HARTFORD TAX INCREMENT DISTRICT NUMBER 14 JOINT REVIEW BOARD MEETING #2 July 16, 2026 / 6:30 p.m. The City of Hartford Tax Incremental District Number 14 Joint Review Board met in the Common Council Chambers, City Hall, City of Hartford, WI. The meeting was called to order at 6:30 p.m. by City of Hartford Chairperson Dennis Regan. Chairperson Regan conducted the roll call. Members of the Joint Review Board were introduced: Dennis Regan, Mayor, City of Hartford, Chair- present Rob Nelson, Director of Business Services & Human Resources, Hartford Union High School District - present Adam Majerus, Director of Business Services, School District of Hartford Joint 1-present Bonnie Baerwald, on behalf of Bethany Rusch, Vice President, Finance and Administration, Moraine Park Technical College- present via Zoom. Aaron Daul, Chief Administrative Officer, Washington County-present Cameron Clapper, Dodge County Administrator, Dodge County – Present via Zoom Dennis Hegy-Present Appearances: No appearances. Minutes from May 28, 2026, meeting were reviewed; Henke motioned to approve; Majerus seconded; motion carried. Chairperson Regan introduced City Planner Jacob Maas. Mr. Maas reviewed the Project Plan and Boundaries for Tax Incremental District Number Fourteen (TID 14), City of Hartford. TID 14 is what we are reviewing. The last TID was TID 13 which was approved in 2024 along State Trunk 60, the east side by the Aurora Healthcare Clinic. TID 14 is on the west side of the city near the westside industrial park. This TID is completely in Washington County. Exhibit A-1 Map, shows the area to West State Street down the railroad tracks and to Independence. All together this TID will consist of a mixed use. Up to 35% can be residential and the other 65% will have to be industrial, commercial or institutional. This property meets these requirements. The 40 acres of the HADC and the Rettler property to the north would be included as the residential area. The remainder would be institutional or industrial. At this time, there is no commercial in this TID. The highest value parcel is on Independence Ave. just north of Tractor Supply. It is assessed around 2 million dollars and is currently used as a person storage facility. They are continuing to expand by building additional storage units. This will increment toward this TID for the development. The big project, the but for, is for the City of Hartford to develop Innovation Way extension, which will connect it to Western Drive. In the project plan, we had about 3.3 million dollars; so far the bids have come lower than this, but there could be unanticipated costs. We are looking at putting the electrical underground which will raise the original cost of 2.1 million we received in bids to more like 2.4 million; this again is under the 3.3 million, which is placed under the criteria for the extension of Innovation Way. South of the Innovation Way extension will be Wisconsin Stamping and Manufacturing. Included in the packet is a breakdown of the economic impact for Wisconsin Stamping and Manufacturing. This business would not be going in if it weren’t for the extension of Innovation Way. It will create several new jobs; approximately 50 for the City of Harford. To the north of Innovation Way is about a 600 unit, proposed, residential development consisting of multifamily (north of West State Street), to the south single-family homes and villas; villas are smaller condos. The equalized value of January 2024 was $2,342,784,500. Under the 12%, the maximum allowable TID Property Value is $281,134,140. The existing TID Value Increment of the TIDs that are out there, TID 6 is being closed, TID 7-13; we don’t have a TID 12 because it was created and closed it out because there wasn’t going to be a residential development. Current TID Value Increment is $71,451,700. The New Value Added by TID 14 is $2,554,300. The Total Net New Value plus Existing TIF Value Increment is $74,006,000, which about 3.16 % of Equalized Value. This is well under the 12% rule, which we are required to qualify for. Exhibit E provided the TID cash flow. This has changed a little since being presented at the first meeting due to the fact the Winter Park project is based off projections, and no financial deal has been confirmed. Based on the raw increment of it, the DJS project and the City of Hartford costs on Innovation Way; again, on the right side of Exhibit E table shows the amortization; this again was for the 3.3 million, not the newer values. After 20 years, the TID life, the expected balance would be $37, 081, 352 of increment generated over the life of the TID minus the Innovation Way bond payments. It would be a very successful TID and the numbers provided are without any type of financial agreement or PayGo for the Winter Park Builders project. Regan noted the board was there to make a recommendation to planning staff that Common Council approved the municipal creation of this TID; Mr. Maas noted we are looking for the Joint Review Board’s resolution. This went before the Plan Commission in early June for the Public Hearing. There was no public comment at the meeting nor received in writing. The Plan Commission approved their resolution; this then went before the June 23rd Common Council and was approved. June 23rd is the official creation date for this TID; we can now bill the construction for Innovation Way from this date. This now goes before this board for their resolution, and we will submit this to the Department of Revenue (DOR). The DOR can’t approve this until after Board of Review updates all the new tax values for the properties in this TID. In September, the appraisal will be provided, and at that time we will close it out with the DOR based off the new appraised values. This has gone to the Town of Hartford because some of these parcels have been annexed within the last three years from the creation of this TID. Hegy inquired about the TID value of $2,554,300 and whether that value was upon approval of the TID; Mr. Maas noted this was the current value of everything in the TID. This may go up dependent on the assessment. The new proposed residential development and new storage area improvements have not been included. Regan inquired if the next JRB meeting would be next year; Mr. Maas confirmed it would be for annual review of the TIDS. Majerus inquired if there were any other proposed developments that may require a TID in the next 12 months outside of this TID; Mr. Maas noted there has been conversation with developers on residential side because of the new residential TID; that would be a case-by-case basis and they would really have to show a but for; we really need to make sure there is a true but for when engaging with these residential developers to make sure this isn’t only financial driven to benefit the developers. Nelson motioned by, Daul seconded to approve the resolution JRB, approving the Project Plan and Boundaries for Tax Incremental District Number Fourteen (TID 14), City of Hartford; motion carried. Chairperson noted the Review of Joint Review Board Duties and Obligations. Mr. Maas noted we have gone through the process right now and this is the last step. Included in the packet, the economic impact of this for Wisconsin Stamping and Manufacturing. This does have a but for and it does have an economic impact on our community; that is why it has been presented tonight for approvals. Your duty was to review this and make sure it was in the best economic sense of the City of Hartford and each of the taxing districts you each represent. Chairperson Regan noted agenda item seven; Mr. Maas noted this is what was previously done but advised addressing it again to follow with the agenda as noted. Hegy wanted to know who reviewed the boundaries for accuracy. Mr. Maas noted MSA reviewed it. Hegy motioned by, Daul seconded to approve the resolution JRB, approving the Project Plan and Boundaries for Tax Incremental District Number Fourteen (TID 14), City of Hartford; motion carried. Daul motioned to adjourn; seconded by Hegy; motioned carried. Meeting adjourned at 6:50pm. Respectfully submitted: Jacob Maas, Recording Secretary Compiled by J. Conley, Planning Secretary Daily News: September 1, 2026 11 Notices Sent NOTICE OF PUBLIC MEETING CITY OF HARTFORD TAX INCREMENTAL DISTRICT 14 JOINT REVIEW BOARD PLEASE TAKE NOTICE that a PUBLIC MEETING will be held at 6:00p.m. or thereafter on September 9, 2026, in the Common Council Chambers at the lower level of City Hall, 109 North Main Street, by the City of Hartford Tax Incremental District 14 (Fourteen) Joint Review Board. The purpose of the meeting is to review the corrected Resolution regarding the proposed creation of Tax Incremental District (TID) Number 14 (Fourteen), City of Hartford, Wisconsin, the proposed boundaries thereof, the cash grant proposal for the district, and the proposed project plan for the district with a termination date of 2046. The Proposed TID No. 14 District is generally described as follows: Tax Keys: 36-0704-001-007, 36-0704-003-005, 36-1801-003-004, 36-1804-002-017, 36-1802-001-014, 36-1801-003-003, 36- 1804-002-003, 36 -1801-003-006, 36 -1804-002-009, 36 -1703-003-004, 36 -1802-006-011, 36 - 1802-003-001, 36 -1803-002-007, 36 -1803-002-002, 36 -1803-002-005, 36 -1803-002-006, 36 - 1803-002-004, 36 -1803-002-003, 36 -1803-002-010, 36-1803-002-008, 36 -1803-002-009, 36 - 1804-001-001, 36 -1804-003-002, 36 -1703-005-001, 36 -1703-003-011, 36-1804-002-016, 36- 1804-002-017 and 36-2002-002-001. At the meeting, interested parties will be afforded a reasonable opportunity to express their views on the proposed Project Plan. Copies of the proposed TID 1 4 (Fourteen) Boundary and Project Plan are available and will be provided upon request at the City Clerk’s office, 109 North Main Street, Monday – Friday between the hours of 7:30 a.m. and 4:30 p.m. Dated this 25th day of August, 2026. Shanna Kreilkamp City Clerk City of Hartford Tax District Tax Parcel ID Number Name Mailing Address Mailing City Mailing State Mailing Zip Site Address Site City Site State Site Zip 36 1801-003-003,1804-002-003 ALLAN & DELORES M RETTLER 269 W STATE ST HARTFORD WI 53027-0000 Unaddressed,1199 Western Drive Hartford WI 53027 36 1801-003-004, 1804-002-017,1801- 003-006,1804-002-009,1802-006- 011, 1803-002-007,1803-002- 006,1803-002-008,1804-003- 002,1703-005-001, 1703-003- 011,2002-002-001, 1804-002-016, 1804-002-017 CITY OF HARTFORD 109 N MAIN ST HARTFORD WI 53027-0000 1500 Innovation Way, 1501 Innovation Way,Unaddressed,1127 Western Drive,1523 Innovation Way,1230 Independence Avenue,1604 Liberty Avenue,Unaddressed,Unaddressed,701 Airport Drive,441 Airport Drive,Unaddressed, 1345 Innovation Way Hartford WI 53027 36 1803-002-002 CITY OF HARTFORD HADC 109 N MAIN ST HARTFORD WI 53027-0000 1600 Liberty Avenue Hartford WI 53027 36 1802-001-014 DREAM CENTER PROPERTIES LLC 1190 WESTERN DR HARTFORD WI 53027 1650 Independence Avenue Hartford WI 53027 36 1803-002-005 HUMBLING INVESTMENTS LLC 2466 LOUGH LN HARTFORD WI 53027 1210 Independence Avenue Hartford WI 53027 36 0704-001-007, 0704-003-005 JAMES E & JANICE RETTLER REVOCABLE TRUST 1500 W STATE ST HARTFORD WI 53027-0000 Unaddressed.1500 West State Street Hartford WI 53027 36 1803-002-004,1803-002-009 JOHN, GERRY, & PAUL GROTH & JUDY MAYER 324 W ROSSMAN ST HARTFORD WI 53027 1640 Liberty Avenue, 1611 Liberty Avenue Hartford WI 53027 36 1803-002-003, 1803-002-010 LIBERTY SELF STORAGE LLC N62W34153 BAYVIEW RD OCONOMOWOC WI 53066 1645 Liberty Avenue, 1000 Independence Avenue Hartford WI 53027 36 1804-001-001 SANDRA J & RONALD A ROSKOPF 7436 STATE HWY 60 W HARTFORD WI 53027-0000 Unaddressed Hartford WI 53027 36 1703-003-004 SMJE LLC 1117 WESTERN DR HARTFORD WI 53027-0000 1117 Western Drive Hartford WI 53027 36 1802-003-001 STATE OF WISCONSIN DOT 141 NW BARSTOW ST WAUKESHA WI 53188-0000 Unaddressed Hartford WI 53027 Mailed: 8/25/26 City of Hartford Tax Incremental District Creation TID #14 Joint Review Board Members, July 16, 2026, 6:30 p.m. Mayor Dennis Regan City of Hartford 109 N. Main Street Hartford, WI 53027 Rob Nelson – Director of Business Services & Human Resources Hartford Union High School 805 Cedar St Hartford, WI 53027 Adam Majerus - Director of Business Services School District of Hartford Joint 1 402 W. Sumner Street Hartford, WI 53027 Pete Rettler, Dean of West Bend Campus Alternate: Bethany Rusch – Vice President Moraine Park Technical College Finance and Administration 2151 N. Main Street Moraine Park Technical College West Bend, WI 53090-1598 cc: Tina Brochtrup Aaron Daul Budget, Policy & Analytics Director 432 East Washington Street West Bend, WI 53095-7986 Cameron Clapper cc: Dawn Gault Dodge County Administrator Dodge County Administration Building 127 E. Oak Street Juneau, WI 53039 Dennis Hegy - Citizen Member RESOLUTION NO. JRB1 - CORRECTED TAX INCREMENTAL DISTRICT #14, CITY OF HARTFORD JOINT REVIEW BOARD WHEREAS, pursuant to Wis. Stats. 66.1105, the City of Hartford convened a Joint Review Board to consider the creation of Tax Incremental District Number 14, City of Hartford, and WHEREAS, on July 16, 2026 at 6:30 pm, a meeting was held in the Common Council Chambers for the purpose of reviewing the public record, planning documents and the resolutions passed by the Planning Commission and Common Council regarding proposed TID #14, and WHEREAS, after such review the Joint Review Board makes the following findings: a) The Development expected in proposed Tax Incremental District #14 would not occur without the use of tax incremental financing; b) The economic benefits of the proposed Tax Incremental District including increased employment, business and personal income and increased property value are sufficient to compensate for the cost of the improvements; c) The benefits of the proposals identified in the project pl an including but not limited to the development Wisconsin Stamping & Manufacturing, LLC, the potential residential development of the HADC and Rettler parcels, and the development of parcels along Independence Avenue and West State Street, outweigh the tax increments to be paid by the owners of the property in the overlying taxing districts; WHEREAS, the Joint Review Board expects Tax Incremental District #14 to terminate in 2046. NOW, THEREFORE, the Joint Review Board approves the project plan for TID #14 as approved by the Plan Commission and Common Council of the City of Hartford and Approves the boundaries of TID #14 as approved by the Plan Commission and Common Council of the City of Hartford. Dated this 16th day of July, 2026. Signed: _________________________ Dennis J. Regan, Chairperson INTRODUCED: July 16, 2026 ADOPTED: July 16, 2026 City of Hartford, Wisconsin Tax Incremental District #14 Project Plan June 23, 2026 City of Hartford 109 North Main Street Hartford, WI 53027 Phone: 262-673-8272 Fax: 262-673-8309 CITY OF HARTFORD, WISCONSIN TAX INCREMENTAL DISTRICT #14 PROJECT PLAN June 23, 2026 City of Hartford 109 North Main Street Hartford, WI 53027 Phone: 262.673.8272 TID 14 Project Plan, 2026 2 CITY OF HARTFORD, WISCONSIN PROJECT PLAN – TAX INCREMENTAL DISTRICT #14 TABLE OF CONTENTS Page 3 Schedule of Exhibits 4 Purpose and Introduction 5 Statement of Kind, Number, and Location of Proposed Project 7 Economic Feasibility Study 9 List of Project Costs 9 Financing Methods 10 Proposed Changes in Zoning 10 Proposed Changes in the Community Development Plan, Map, Building Code & Ordinance 11 Non-Project Costs 11 Relocation Plan 11 Promotion of Orderly Growth and Development 12 Legal Opinion TID 14 Project Plan, 2026 3 CITY OF HARTFORD, WISCONSIN PROJECT PLAN – TAX INCREMENTAL DISTRICT #14 SCHEDULE OF EXHIBITS Exhibit A Map and Description of TID Boundaries B Comprehensive Plan for Affected Area C Table of Parcels Included in TID No. 14 D Amortization of Outstanding Principal – All General Obligation Debt E Project Feasibility Review F Map of Existing Uses and Conditions of Real Property G Map of Development Layout H Opinion of City Attorney TID 14 Project Plan, 2026 4 CITY OF HARTFORD, WISCONSIN PROJECT PLAN – TAX INCREMENTAL DISTRICT #14 PURPOSE AND INTRODUCTION The City of Hartford has identified the need to expand its economic base through business, mixed-use, and residential development. To promote development, the City is seeking to designate a geographical area lying within its corporate limits as a Tax Incremental Finance District (TID) No. 14. The creation of TID No. 14 will allow the City to make certain public improvements and investments to the designated area so that growth, development, and/or blight elimination can occur. Anticipated growth, combined with the City’s commitment toward development, will ensure sufficient tax increment to retire all debt issued by the District for improvements. These improvements will allow the City to attract and retain potential development, and encourage further private investment in local business. The development that is anticipated to occur will provide long-term tax benefits to both the City and all other overlying taxing jurisdictions. Wisconsin’s Tax Incremental Law gives the City the authority, under certain conditions, to designate specific areas within its boundaries as Tax Incremental Districts (TID’s), and requires the preparation of Project Plans to develop or redevelop the Districts. The City may then use all extra taxes generated by the increased property value of such development or redevelopment to pay for eligible costs which are incurred to improve the Districts. This law assumes that all governmental units which tax properties with in Tax Incremental Districts eventually will benefit from the increased value which will be generated. In the meantime, because it is developing the improvements, the municipality which created the Districts is allowed to retain the increased taxes genera ted during the existence of the Districts to pay for the cost of the public improvements. Wisconsin Law places certain limitations upon the creation of TID’s. In general, only whole parcels of property which are contiguous can be included within the District. In addition at least 50% of the real property in a District (excluding road right of way and conservancy areas) must be blighted, in need of rehabilitation or conservation work, suitable for industrial sites, or suitable for two or more mixed uses (industrial, commercial, or residential). TID’s must also involve improvements likely to enhance significantly the value of substantially all the other real property in the District. Project costs must relate directly to eliminating blight, rehabilitation, conservancy, or the promotion of industrial, commercial, or residential development. The aggregate value of the equalized taxable property of the District plus all existing districts may not exceed 12% of the total value of equalized property within the City at the time the TID is created. The City of Hartford’s current ratio (01-01-2026) of equalized valuation within tax incremental districts to its total equalized valuation is: 3.16% TID 14 Project Plan, 2026 5 Before a TID is created, a Joint Review Board (JRB) comprised of representatives of authorities having the power to levy taxes in the District must approve the municipality’s action creating the District. Summary of Findings In creating TID No. 1 4, the City of Hartford has made the following findings, consistent with Section 66.1105 of Wisconsin Statutes: • Activities and improvements to the newly designated TID No. 1 4 are intended to encourage and attract business, mixed-use, and residential growth in the City. • The improvements to the newly designated area are likely to encourage, develop, and maintain a strong growth pattern in the City, taking advantage of major transportation routes through the City. • The improvements to the area are likely to maximize private investment within the newly designated TID No. 14 and significantly enhance the value of substantially all other real estate in the District. • The improvements to the area are likely to make currently underdeveloped areas of the City more attractive by providing necessary and desired public improvements, which are compatible and feasible with existing systems • The improvements to the area are likely to encourage and promote conformity with the City’s land use policies and procedures. • The development in the newly designated area would not take place “But For” in the absence of the improvements stated in the Project Plan. • TID No. 14 is declared to be a “Mixed-Use District” and at least 50% of the land in TID No. 1 4 has been classified as a mixed -use area, as defined in Section 66.1105(2)(cm) of Wisconsin Statutes. • The equalized value of the taxable property of the District plus the aggregate value increment of all existing districts within the City does not exceed 12% of the total value of equalized taxable property within the City. • The estimated percentage of territory within the District that is devoted to newly platted residential land use will not exceed 35% at the end of the District’s expenditure period and the density of newly platted residential housing will be at least three units per acre. STATEMENT OF KIND, NUMBER, AND LOCATION OF PROPOSED PROJECT Tax Increment District No. 1 4 is being created by the City of Hartford as a “Mixed -Use District” under the authority provided by Wisconsin Statute Section 66.1105. The City of Hartford finds that at least 50%, by area, or real property within the District is suitable for mixed-use development. Boundary Description: The boundary for the newly designated TID No. 1 4 was established using the following criteria: TID 14 Project Plan, 2026 6 1. The equalized value of the taxable property of the District plus the aggregate value of increment of all existing districts within the City does not exceed 12% of the total value of equalized taxable property within the City at the time of creation. 2. The District is contiguous and contains only whole parcels. 3. At least 50% of the land in TID No. 1 4 has been classified as a mixed -use area, as defined in Section 66.1105(2)(cm) of Wisconsin Statutes. 4. That lands proposed for newly platted residential use, as shown in the Project Plan, will not exceed 35%, by area, of the real property within the District. A map and a legal description identifying the boundaries for the newly designated TID No. 14 is provided in EXHIBIT A. The location of TID No. 14 is within the City of Hartford’s West State Street/West Side Industrial corridor. The City of Hartford’s Comprehensive Plan’s future land use map shows the District ’s boundaries and parcels as being appropriate for mixed -use development. All intended uses identified under th is Project Plan are met by current Zoning Districts (see EXHIBIT B). The City expects that there may be several projects that encompass an area outside of the boundaries of the TID. Pursuant to Wisconsin Statutes Section 66.1105(2)(f)(1)(n), the City may undertake projects within territory located within one -half (1/2) mil e of the boundary of the TID, and pay them using tax increment provided that: 1. The project area is located within the City’s corporate boundaries; 2. The projects are an eligible TIF expenditure within this project Plan as approved by the Joint Review Board; and 3. The expenditure must be made within the expenditure period. The one-half (1/2) mile boundary of TID No. 14 is illustrated on EXHIBIT A. Tax Parcels EXHIBIT C provides a table of all parcels located within TID No. 14. Equalized Value Test Per Wisconsin State Statute 66.1105(4)(gm)4.c., municipalities are restrained in their use of Tax Increment Financing such that the equalized value of taxable property of the (new/amended) district area plus the value increment of all existing districts do es not exceed 12 percent of the total equalized value of taxable property within the municipality. The total assessed value of taxable property in TID No. 1 4, as of January 1, 202 6, is $2,554,300. The City has 7 other active TIDs, TID No. 6, No. 7, No. 8, No. 9, No. 10, No. 11, and No. 13, with a value increment, as of January 1, 2026 of $71,451,700. The total municipal equalized value, as of January 1, 202 6, for the City is $2, 342,784,500. Table 1 indicates that creation of TID No. 1 4 may bring the City’s TID to total municipal value ratio to approximately 3.16%, within the 12% limit. TID 14 Project Plan, 2026 7 Table 1: Equalized Value Test Maximum Allowable TID Property Value Equalized Value (as of January 1, 2024) $2,342,784,500 Maximum Allowable TID Property Value (12%) $281,134,140 12% Test - Compliance Existing TIF Value Increment $71,451,700 New Value Added by TID No. 14 $2,554,300 Total Net New Value + Existing TIF Value Increment $74,006,000 Percentage of Equalized Value 3.16% ECONOMIC FEASIBILITY STUDY Municipal Financial Capacity: The development plan consists of up to 3 potential developable parcels and construction projects with a projected buildout valuation in excess of $ 175,000,000 (See Exhibit G). A borrowing will be required for a project of this magnitude, and the first phase of the project is identified in the City’s approved 2026 Capital Improvement Plan. The borrowing will be paid for with recovery through the receipt of 100% of the anticipated tax increments. The City maintains adequate reserves to provide cash flows for the public purpose projects, with recovery over the life of the District. The City enjoys a Moody’s Investors Service Rating of Aa2 to the City of Hartford’s general obligation promissory notes, Series 2026A. The City of Hartford’s margin of indebtedness for general obligation purposes at May 1, 2026 is calculated: Equalized Valuation (01-01-26) $2,342,784,500 Debt Limitation: 5% of Equalized Valuation 117,139,225 Less Outstanding Debt (05-01-26) (30,485,000) Unused Margin of Indebtedness $ 86,654,225 Unused Legal Debt Capacity 73.98% The City of Hartford historically carries large reserves in the form of undesignated fund balances in various funds. Currently, its General Fund alone includes an undesignated fund balance of approximately $6,746,064. The City’s debt management plan includes the biennial issuance of $3.0 - 4.0 million of 10-year general obligation notes in even numbered calendar years for the purpose of funding capital projects of the City for a two year period. These biennial borrowings are intended to match an approximately equal amortization of debt during the same fiscal TID 14 Project Plan, 2026 8 period, thereby creating a “revolving” debt program for recurring public infrastructure purposes. The City has followed this revolving debt program for 20 years. The City believes its debt ratio is sufficient to provide additional borrowing capacity to meet any unanticipated needs, as well as funding for any of the public purpose projects identified in this Project Plan if this were to become necessary. A chart de picting the amortization of all currently outstanding general obligation debts is included in this Project Plan as EXHIBIT D. Projected Tax Increment Revenues: EXHIBIT E demonstrates the anticipated project revenues for Tax Incremental District No. 14. The Exhibit makes a set of assumptions with respect to the development of the District: 1. The City of Hartford anticipates that Wisconsin Stamping & Manufacturing, LLC will begin construction on an approximately 80,000 square foot industrial manufacturing facility (Project Area “A”, Exhibit G). 2. Furthermore, the City of Hartford anticipates Winter Park Builders will begin development of an approximately 600 dwelling unit subdivision (Project Area “B”, Exhibit G). 3. The equalized value of taxable property within the District as of January 1, 2026 was $2,554,300. 4. The value of taxable new construction will be approximately $ 6,112,500 or more on or before December 31, 202 7, and a final taxable new construction of $177,540,000 by December 31, 2033 5. Equalized values are assumed to appreciate at a modest 2.0% through the 20 - year life of the District. 6. A conservative, combined property tax rate (equalized basis) of $13.00 per $1000 of valuation is applied. The current (calendar year 2025) equalized tax rate for all applicable taxing entities is $13.03. Anticipated New Development In addition to the development described above, the City believes that the presence of 6 other development -ready commercial/Industrial sites will spur additional development within the District. Annual Cash Flows EXHIBIT E projects the annual cash flows through the anticipated life of TID No. 14. Economic Conditions TID 14 Project Plan, 2026 9 The City of Hartford is a growing municipality in Southeastern Wisconsin. (Population up more than 4 3% since 2000.) Growth in equalized valuation has been approximately 332% during the same time period, from $542,898,600 to the current $2,342,784,500. The City’s current Moody’s Investor Service rating is Aa2, last affirmed May 1, 2026. In its credit profile for the City, Standard & Poor’s noted: Favorable location within the Milwaukee metropolitan area. Solid financial operations with healthy reserves. The City of Hartford recognizes that its ability to compete as a major regional industrial and manufacturing center will depend upon the cooperation and coordination of public and private efforts. These efforts must include a focus on development that provides continuum of care and housing opportunity across demographics and socio -economic status. The City of Hartford realizes that providing new housing and continuum of care opportunities creates housing access that benefits the changing demands of the City’s industrial and manufacturing base. LIST OF ESTIMATED PROJECT COSTS Table 2: Innovation Way Extension (Project Area “C”, Exhibit G) Innovation Way Public Purpose Projects Phase 1 1 Water Construction $443,400 2 Sanitary Sewer Construction $199,900 3 Stormwater Construction $235,400 4 Street and Site Construction $634,360 5 Rough Grading $124,000 6 Contingency (5%) $81,860 Phase 1 Project Costs Funded from Tax Increment: $1,718,920 Phase 2 1 Sanitary Sewer Construction $95,050 2 Stormwater Construction $235,400 3 Street and Site Construction $704,850 4 Stormwater Pond Construction $358,000 5 Contingency (15%) $209,000 Phase 2 Project Costs Funded from Tax Increment $1,602,300 TOTAL COST – PHASE 1 & PHASE 2 $3,321,220 FINANCING METHODS Under Wisconsin law there are several methods of borrowing, some of which apply against a municipality’s debt limit, and others that do not apply against the limit. The State sets this limit at five percent (5%) of the municipality's total equalized prope rty TID 14 Project Plan, 2026 10 valuation. The feasibility of financing specific projects at any given time using a particular method can be determined based on the municipality’s current fiscal situation, anticipated non-TID related capital needs, the amount of money to be borrowed, interest rates, and lending terms. Possible funding sources include: A. General Obligation Borrowing General Obligation Borrowing includes all types of municipal borrowing from banks, the State Trust Fund, or other lending institutions. This method of borrowing requires little effort or legal expenditures and works particularly well for smaller projects. B. General Obligation Bonding General Obligation Bonds are debt instruments backed by the full faith and credit of the municipality and its ability to raise revenue through taxation. In the case of default, the municipality is liable for repayment of debt. As a result, this type of debt can often result in lower interest rates tha n regular General Obligation Borrowing. The high fees associated with the issuance of the bonds makes them more attractive for larger projects. C. Mortgage Revenue Bonds Revenue Bonds are a debt instrument backed by revenue generated from the project. These types of bonds are also mainly used for larger debt issuances due to their relatively high associated fees. They are typically issued by municipal bodies that raise r evenues on a fee for service type basis, such as the Water, Electric, or Sanitary/Sewer Utility. These types of bonds generally do not count against a municipality’s five percent (5%) debt limit. D. Special Assessment “B” Bonds Special Assessment “B” Bonds are a debt instrument backed by the municipality’s ability to raise revenue from special assessments charged to persons, organizations, or businesses receiving benefits from the project. These bonds also do not normally count against a municipality’s debt limit. E. Federal/County/State Loan and Grant Programs The County, State, and Federal Government often sponsor grant and loan programs that municipalities may potentially use to supplement TID expenditures or provide financing for capital costs which positively impact the District. Thes e programs include Wisconsin Community Development Block Grants, Rural Development Administration Community Facility Loan/Grants, Transportation Economic Assistance Grants, Economic Development Administration Grants, and Washington County Impact Loan Funds. These programs may require local match funding to insure State and Federal participation in the project. PROPOSED CHANGES IN ZONING The City of Hartford is zoned in accordance with an ordinance formally adopted by the City’s Common Council. Based on the current zoning classifications within TID No. 1 4, TID 14 Project Plan, 2026 11 one zoning change will be necessary because of the creation of TID No. 1 4. 1500 Innovation Way (Tax Key: 1801-003-004) will be required to rezone from A -1, Limited Agriculture to R -8, Planned Mixed Residential. If further future rezoning is needed to facilitate development within TID No. 1 4, approval of rezoning applications will occur on a case-by-case basis consistent with the City’s Comprehensive Plan. PROPOSED CHANGES IN THE COMMUNITY DEVELOPMENT PLAN, MAP, BUILDING CODE & ORDINANCE The creation of TID No. 1 4 will not require any changes to the existing community development plans or the City’s municipal codes or ordinances. The projects proposed in the project plan are consistent with the development policies of the municipality, as well as existing building codes, maps, and ordinances. It should be noted that the City of Hartford will initiate a complete update of the City’s Comprehensive Plan in July of 2026. NON-PROJECT COSTS The following bullets identify public works projects that are not eligible to be paid with tax increment under Wis. Stat. 66.1105(2)(f).2. • The cost of constructing or expanding administrative buildings, police and fire buildings, libraries, community and recreational buildings and school buildings, unless the administrative building s, police and fire buildings, libraries and community and recreational buildings were damaged or destroyed before January 1, 1997, by a natural disaster. • The cost of constructing or expanding any facility, ex cept a parking structure, in the City generally finances similar facilities only with user fees • General government operating expenses, unrelated to the planning and development of a TID. • Cash grants made by the City to owners, lessees, or developers of land that is located within the TID unless the grant recipient has signed a development agreement with the City, a copy of which shall be retained by the City in the official records of that TID. The City is not anticipating incurring non-eligible project costs. RELOCATION PLAN No persons are expected to be displaced or relocated as a result of proposed projects in the TID; however, if relocation were to become necessary in the future, the following is the method proposed by the City for displacement or relocation. Before negoti ations TID 14 Project Plan, 2026 12 begin for the acquisition of property or easement, all property owners will be contacted to determine if there will be displaced persons, all property owners and p rospective displaced person will be provided an informational pamphlet prepared by the Wisconsin Department of Administration (DOA). The City will file a relocation plan with the DOA and shall keep records as required in Wisconsin State Statutes 32.27. The City will provide each owner a full narrative appraisal, a map showing the owner s of all property affected by the proposed project and a list of neighboring landowners to whom offers are being made as required by law. PROMOTION OF ORDERLY GROWTH AND DEVELOPMENT TID No. 1 4 will promote orderly development in the City of Hartford by marketing and attracting activity to a specified area. This allows the City greater control over economic activity in order to ensure that development and/or growth is orderly, harmonious with adjoining land uses, and enhances the health and welfare of the community. LEGAL OPINION An opinion from the City’s legal counsel regarding the Project Plan for TID No. 14 and its compliance with Section 66.1105 of Wisconsin State Statutes is provided in EXHIBIT H. Exhibit A Maps & Description of TID Boundaries Hartford TID #14 Boundary Description A parcel of land located in the Southwest 1/4 of the Southeast 1/4 of Section 7, the Northwest 1/4 of the Northeast 1/4, the Northeast 1/4 of the Northwest 1/4, the Southwest 1/4 of the Northeast 1/4 and the Southeast 1/4 of the Northeast 1/4, Southeast 1/4 of the Northwest 1/4, Southwest 1/4 of the Northwest 1/4, Northeast 1/4 of the Southwest 1/4, Northwest 1/4 of the Southwest 1/4, Southwest 1/4 of the Southwest ¼, Southeast 1/4 of the Southwest 1/4, Northwest 1/4 of the Southeast 1/4, Northeast 1/4 of the Southeast 1/4, Southeast 1/4 of the Southeast 1/4, of Section 18, the Southwest 1/4 of the Southwest 1/4 of Section 17, the Northwest 1/4 of the Southwest 1/4, the Northeast 1/4 of the Southwest 1/4 of Section 20, all in Township 10 North, Range 18 East in the City of Hartford, Washington County, Wisconsin, more particularly described as follows: Beginning at the Southeast Corner of said Section 18 and a point on the east line of Lot 1 of CSM #6135 as recorded in Volume 45, Page 390 of Certified Survey Maps as Document #1152769; thence N 01°15’28” W along the east line of the Southeast 1/4 of the Southeast 1/4 said Section 18 and an east line of Lot 1 of said CSM #6135, 350.01 feet more or less to the northeast corner of Lot 1 of said CSM #6135; Thence N 89°57’04” W along the northerly line of said CSM #6135, 245.53 feet more or less to the southeast corner of Lot 2 of CSM #6723 as recorded in Volume 51, Page 298 of Certified Survey Maps as Document #1417637; Thence N 01°05’17” E along an easterly line of Lot 2 of said CSM #6723, 158.39 feet more or less to a easterly corner of Lot 2 of said CSM #6723; Thence N 46°54’03” W along a northeasterly line of Lot 2 of said CSM #6723, 192.26 feet more or less to a northeasterly corner of Lot 2 of said CSM #6723; Thence N 46°28’04” W along a northeasterly line of Lot 2 of said CSM #6723, 345.19 feet more or less to a northeasterly corner of Lot 2 of said CSM #6723; Thence N 67°41’54” W along a northerly line of Lot 2 of said CSM #6723, 108.37 feet more or less to a northerly corner of Lot 2 of said CSM #6723; Thence N 73°55’35” W along a northerly line of Lot 2 of said CSM #6723, 138.95 feet more or less to a northerly corner of Lot 2 of said CSM #6723; Thence N 39°03’51” W along a northerly line of Lot 2 of said CSM #6723, 260.15 feet more or less to a northerly corner of Lot 2 of said CSM #6723; Thence N 82°53’41” W along a northerly line of Lot 2 of said CSM #6723, 148.62 feet more or less to a northerly corner of Lot 2 of said CSM #6723; Thence N 74°27’54” W along a northerly line of Lot 2 of said CSM #6723, 127.62 feet more or less to a northwest corner of Lot 2 of said CSM #6723 and a point on the West line of the Southeast 1/4 of the Southeast 1/4 of Section 18; . Exhibit A.3 Thence northerly along the West line of the Southeast 1/4 of the Southeast 1/4 of Section 18, 134.19 feet more or less to the Northeast Corner of Southwest 1/4 of the Southeast 1/4 of Section 18; Thence westerly along the north line of the Southwest 1/4 of the Southeast 1/4 of Section 18, 844.28 feet more or less to a point on the east line of lands described in document #1287429. Thence N 00°14’30” E along the east line of lands described in document #127429, 158.50 feet more or less. Thence N 13°02’30” W along an easterly line of lands described in document #127429, to the Rubicon River; Thence southwesterly along the Rubicon River, to the northwest corner of lands described in Document #127429; Thence S 00°20’46” W along the west line of lands described in document #127429, 197.44 feet more or less to the northeast corner of Lot 1 of CSM #6800 as recorded in Volume 52, Page 226 of Certified Survey Maps as Document #1447025; Thence N 88°37’20” W along the north line of Lot 1 of said CSM #6800, 660.25 feet to the northwest corner of Lot 1 of said CSM #6800; Thence S 00°59’43” W along the west line of Lot 1 of said CSM #6800, 559.40 feet more or less to the southeast corner of lands described in document #1565329; Thence S 89°59’04” E along the south line of lands described in document #1535329, 620.25 feet more or less to the southwest corner of lands described in document #1565329 and a point on the easterly right-of-way of Independence Avenue; Thence N 00°20’34” W along the easterly right-of-way of Independence Avenue, 825.38 feet more or less to the southerly right-of-way of Liberty Avenue; Thence northwesterly to the southeast corner of Lot 1 of CSM 4005 and the northerly right-of-way of Liberty Avenue. Thence northerly along the west line of Lot 1 of CSM #4005 to the southerly ordinary high water mark of the Rubicon River; Thence westerly along the southerly ordinary high water mark of the Rubicon River also being the northerly line of Lot 1 of said CSM #4005 to a northwesterly corner of Lot 1 of said CSM #4005; Thence S 01°11’23” E along a westerly line of said Lot 1 of said CSM #4005, 30.00 feet more or less to a point on the northeasterly right-of-way of Independence Avenue and a westerly corner of Lot 1 of said CSM #4005; Thence N 01°11’23” W along the northeasterly right-of-way of Independence Avenue 7.36 feet more or less to the beginning of a curve to the right; Thence northwesterly along the northeasterly right-of-way of Independence Avenue and the arc of a curve to the right 404.65 feet more or less; Thence N 00°50’29” E along the easterly right-of-way of Independence Avenue 65.67 more or less feet to the beginning of a curve to the right; Thence northeasterly along the easterly right-of-way of Independence Avenue and the arc of a curve to the right 178.23 feet; Thence N 28°40’00” E along the easterly right-of-way of Independence Avenue, 590.14 feet more or less to the southwesterly right-of-way of the Wisconsin & Southern Railroad; Thence northwesterly along the southwesterly right-of-way of the Wisconsin & Southern Railroad to the West line of Southwest 1/4 of the Northwest 1/4 of Section 18; Thence northerly along the West line of Southwest 1/4 of the Northwest 1/4 of Section 18 to the northeasterly right-of-way of the Wisconsin & Southern Railroad; Thence southeasterly along the northeasterly right-of-way of the Wisconsin & Southern Railroad to the southwest corner of Lot 1 of CSM #7213 as recorded in Volume 55, Page 321 of Certified Survey Maps as Document #1560352; Thence N 28°40’02” E along the northwesterly line of said CSM #7213, 443.26 feet more or less to the northwest corner of Lot 1 of said CSM #7213 and a point on the southwesterly right-of-way of Innovation Way; Thence S 51°14’29” E along the southwesterly right-of-way of Innovation Way, 728.62 feet more or less to the Northeast Corner of the Southwest 1/4 of Section 18; Thence N 00°21’13” W along the west line of the Southwest 1/4 of the Northeast 1/4 of Section 18, 1,534.40 feet more or less to southeast corner of Lot 1 of CSM #5726 as recorded in Volume 41, Page 326 of Certified Survey Maps as Document #1051977; Thence S 76°29’02” W along the southerly line of Lot 1 of said CSM #5726, 422.41 feet more or less to the southwest corner of Lot 1 of said CSM #5726; Thence N 22°14’00” W along the westerly line of Lot 1 of said CSM #5726, 450.00 feet mor or less to the northwest corner of Lot 1 of said CSM #5726 and a point on the southerly right-of-way of Independence Avenue; Thence northeasterly along the southerly right-of-way of Independence Avenue to the southwesterly right-of-way of West State Street; Thence northeasterly along the extension of the southerly right-of -way of Independence Avenue to the northeasterly right-of-way of West State Street; Thence northwesterly along the northeasterly right-of way of West State Street to the southwest corner of Lot 1 of CSM #6551 as recorded in Volume 50, Page 27 of Certified Survey Maps as Document #1356953; Thence easterly along the south line of Lot 1 of said CSM #6551 588.57 feet more or less to the southeast corner of Lot 1 of said CSM #6551 and the Southwest Corner of the East 1/2 of the Southwest 1/4 of the Southeast ¼ of Section 7; Thence northerly along the West line of the East 1/2 of the Southwest 1/4 of the Southeast 1/4 of Section 7 to the Northwest Corner of the East 1/2 of the Southwest 1/4 of the Southeast 1/4; Thence easterly along the North line of the East 1/2 of the Southwest 1/4 of the Southeast 1/4 of Section 7 to the Northeast Corner of the Southwest 1/4 of the Southeast 1/4 of Section 7; Thence southerly along the East line of the Southwest 1/4 of the Southeast 1/4 of Section 7 and the East line of the Northwest 1/4 of the Northeast 1/4 of Section 18 and the East line of the Southwest of the Northeast 1/4 of Section 18 to the north line of lands described in Document #1588585; Thence easterly along the northerly line of lands described in Document #1588585 to the southwest corner of Lot 3 of CSM #5631 as recorded in Volume 50, Page 27 of Certified Survey Maps as Document #1006448 and the northerly right-of-way of Western Drive; Thence southerly of easterly line of lands described in Document #1588585 and the westerly right-of- way of Western Drive to the southeast corner of lands described in Document #1588585. Thence southerly along the westerly right-of-way of Western Drive and the easterly line of Document #909347 to the northwest corner of Lot 1 of CSM #3976 as recorded in Volume 25, Page 224 of Certified Survey Maps as Document #617579; Thence southeasterly along the southwesterly right-of-way of Western Avenue and the northerly line of Lot 1 of said CSM #3976 to the northeast corner of Lot 1 of said CSM #3976; Thence southwesterly along the easterly line of Lot 1 of said CSM #3976 to the northeasterly right-of- way of the Wisconsin and Southern Railroad and the southeast corner of Lot 1 of said CSM #3976; Thence southeasterly along the northeasterly line of the Wisconsin and Southern Railroad to the southeast corner of Lot 2 of CSM #4618 as recorded in Volume 31, Page 93 of Certified Survey Maps as Document #708858; Thence northerly along the east line of Lot 2 of said CSM #4618 to the southwest corner of Lot 1 of CSM #3951 as recorded in Volume 25, Page 156 of Certified Survey Maps as Document #613133; Thence southeasterly along the southerly line of Lot 1 of said CSM #3951 to the southeast corner of Lot 1 of said CSM #3951 and the westerly right-of-way of Airport Drive; Thence southerly along the westerly right-of-way of Airport Drive to northeasterly right-of-way of the Wisconsin and Southern Railroad; Thence southerly to the northwest corner of Parcel 1 of CSM #4594 as recorded in Volume 31, Page 24 of Certified Survey Maps as Document #705659 Thence southerly along the west line of Parcel 1 of said CSM #4594 to the southwest corner of Parcel 1 of said CSM # 4594 and the northwest corner of lands described as Parcel 2 in Document #1552023; Thence southeasterly along a westerly line of lands described as Parcel 2 of said Document #1552023, 600 feet more or less; Thence southerly along a westerly line of lands described as Parcel 2 of said Document #1552023, 426.70 feet more or less; Thence westerly along a northerly line of lands described as Parcel 2 of said Document #1552023, 400 feet more or less to the northeast corner of lands described in Document #1493955; Thence northwesterly along the northerly line of lands described in Document #1493955, 1484.28 feet more or less to a point on the east line of Lot 1 of CSM #6135 and a point on the East line of the Northeast 1/4 of the Northeast 1/4 of Section 19. Thence northerly along the East line of the Northeast 1/4 of the Northeast 1/4 of Section 19 and the east line of Lot 1 of said CSM #6135 to the Southeast Corner of Section 18 and the Point of Beginning. Exhibit B Comprehensive Plan of Affected Area Exhibit B Comprehensive Plan for TID No. 14 Exhibit C Table of Parcels Included in TID No. 14 Acres % of Total Acres Tax Key Property Address City State Zip Land Value Improvement Value Total Value Zoning Zoning Description 20 6.52% 0704-001-007 Unaddressed Hartford WI 53027 $5,800 $0 $5,800 R-8 Planned Mixed Residential 34.32 11.19% 0704-003-005 1500 West State Street Hartford WI 53027 $105,600 $336,100 $441,700 R-8 Planned Mixed Residential 38.60 12.58% 1801-003-004 1500 Innovation Way Hartford WI 53027 $0 $0 $0 A-1 Limited Agriculture 9.36 3.05% 1804-002-017 1501 Innovation Way Hartford WI 53027 $0 $0 $0 M-2 General Industrial 5.84 1.90% 1802-001-014 1650 Independence Avenue Hartford WI 53027 $154,500 $0 $154,500 M-2 General Industrial 1.09 0.36% 1801-003-003 Unaddressed Hartford WI 53027 $300 $0 $300 A-1 Limited Agriculture 21.94 7.15% 1804-002-003 1199 Western Drive Hartford WI 53027 $21,000 $0 $21,000 A-1 Limited Agriculture 1.47 0.48% 1801-003-006 Unaddressed Hartford WI 53027 $0 $0 $0 A-1 Limited Agriculture 9.68 3.16% 1804-002-009 1127 Western Drive Hartford WI 53027 $0 $0 $0 M-2 General Industrial 1.64 0.53% 1703-003-004 1117 Western Drive Hartford WI 53027 $66,000 $184,000 $250,000 M-1 Light Industrial 6.88 2.24% 1802-006-011 1523 Innovation Way Hartford WI 53027 $0 $0 $0 M-2 General Industrial 6.38 2.08% 1802-003-001 Unaddressed Hartford WI 53027 $0 $0 $0 SP-1 Railroad 1.30 0.42% 1803-002-007 1230 Independence Avenue Hartford WI 53027 $0 $0 $0 C-1 Conservancy 28.19 9.19% 1803-002-002 1600 Liberty Avenue Hartford WI 53027 $0 $0 $0 I-1 Institutional 6.82 2.22% 1803-002-005 1210 Independence Avenue Hartford WI 53027 $147,000 $0 $147,000 M-2 General Industrial 1.85 0.60% 1803-002-006 1604 Liberty Avenue Hartford WI 53027 $0 $0 $0 I-1 Institutional 5.00 1.63% 1803-002-004 1640 Liberty Avenue Hartford WI 53027 $1,600 $0 $1,600 A-1 Limited Agriculture 2.87 0.94% 1803-002-003 1645 Liberty Avenue Hartford WI 53027 $900 $0 $0 A-1 Limited Agriculture 7.97 2.60% 1803-002-010 1000 Independence Avenue Hartford WI 53027 $203,000 $1,319,000 $1,522,000 M-1 Light Industrial 9.85 3.21% 1803-002-008 Unaddressed Hartford WI 53027 $0 $0 $0 I-1 Institutional 9.15 2.98% 1803-002-009 1611 Liberty Avenue Hartford WI 53027 $5,100 $0 $5,100 I-1 Institutional 9.64 3.14% 1804-001-001 Unaddressed Hartford WI 53027 $5,300 $0 $5,300 A-1 Limited Agriculture 8.42 2.75% 1804-003-002 Unaddressed Hartford WI 53027 $0 $0 $0 A-1 Limited Agriculture 10.81 3.52% 1703-005-001 701 Airport Drive Hartford WI 53027 $0 $0 $0 I-1 Institutional 1.02 0.33% 1703-003-011 441 Airport Drive Hartford WI 53027 $0 $0 $0 I-1 Institutional 34.00 11.09% 2002-002-001 Unaddressed Hartford WI 53027 $0 $0 $0 I-1 Institutional 12.63 4.12% 1804-002-016 1345 Innovation Way Hartford WI 53027 $0 $0 $0 M-2 General Industrial Total Acreage 306.72 $716,100 $1,839,100 $2,554,300 Total Residential Acreage 92.92 % Residential Acreage 30.29% Total Assessed Values TID #14 Parcels EXHIBIT C - AMENDED Land Area Property Information Assessed Values Zoning Exhibit D Amortization of Outstanding Principal – All General Obligation Debt 2012 Budget Refunding 2016B G.O. 2018A G.O. 2020A G.O. 2022A G.O. 2022B G.O. 2024A G.O. 2026A G.O. Total To Year Bonds Notes Notes Notes Notes Refg Bonds Notes Notes Be Paid 2026 400,000$ 400,000$ 2027 350,000$ 700,000$ 200,000$ 500,000$ 300,000$ 500,000$ 300,000$ 2,850,000$ 2028 375,000$ 700,000$ 700,000$ 325,000$ 500,000$ 300,000$ 2,900,000$ 2029 375,000$ 700,000$ 700,000$ 325,000$ 500,000$ 300,000$ 2,900,000$ 2030 375,000$ 700,000$ 400,000$ 600,000$ 500,000$ 2,575,000$ 2031 350,000$ 650,000$ 625,000$ 750,000$ 2,375,000$ 2032 350,000$ 350,000$ 750,000$ 850,000$ 275,000$ 2,575,000$ 2033 1,000,000$ 750,000$ 1,750,000$ 2034 1,265,000$ 750,000$ 2,015,000$ 2035 1,200,000$ 1,200,000$ 2036 1,200,000$ 1,200,000$ 2037 1,200,000$ 1,200,000$ 2038 1,200,000$ 1,200,000$ 2039 1,200,000$ 1,200,000$ 2040 1,225,000$ 1,225,000$ 2041 2,000,000$ 2,000,000$ TOTALS 2,175,000$ 3,800,000$ 600,000$ 1,900,000$ 2,725,000$ 2,100,000$ 5,265,000$ 11,000,000$ 29,565,000$ City of Hartford, Wisconsin 2026 Annual Budget Amortization of Outstanding Principal All General Obligation Debt (2026-2041) EXHIBIT D # Internal Use Exhibit E Project Feasibility Review REVENUE EXPENDITURE REVENUE 2026 -$ -$ -$ -$ -$ -$ -$ -$ 2027 -$ -$ -$ -$ -$ 165,000.00$ (165,000.00)$ 165,000.00$ 2028 80,236$ -$ 45,813$ 34,423.00$ -$ 229,187.00$ (229,187.00)$ 275,000.00$ 2029 81,840$ 42,548.00$ 45,813$ -$ 559,780$ 228,687.00$ 331,093.00$ 274,500.00$ 2030 83,477$ 42,548.00$ 45,813$ -$ 1,520,487$ 227,937.00$ 1,292,550.00$ 273,750.00$ 2031 85,147$ 42,548.00$ 45,813$ -$ 1,860,952$ 226,937.00$ 1,634,015.00$ 272,750.00$ 2032 86,850$ 42,548.00$ 45,813$ -$ 2,204,822$ 225,687.00$ 1,979,135.00$ 271,500.00$ 2033 88,587$ 42,548.00$ 45,813$ 226.00$ 2,369,480$ 229,187.00$ 2,140,293.00$ 275,000.00$ 2034 90,358$ 42,548.00$ 45,813$ 1,997.00$ 2,393,175$ 227,187.00$ 2,165,988.00$ 273,000.00$ 2035 92,166$ 42,548.00$ 45,813$ 3,805.00$ 2,417,106$ 224,937.00$ 2,192,169.00$ 270,750.00$ 2036 94,009$ 42,548.00$ 45,813$ 5,648.00$ 2,441,278$ 227,437.00$ 2,213,841.00$ 273,250.00$ 2037 95,889$ 42,548.00$ 45,813$ 7,528.00$ 2,465,690$ 224,437.00$ 2,241,253.00$ 270,250.00$ 2038 97,807$ 42,548.00$ 45,813$ 9,446.00$ 2,490,347$ 226,187.00$ 2,264,160.00$ 272,000.00$ 2039 99,763$ 42,548.00$ 45,813$ 11,402.00$ 2,515,251$ 227,437.00$ 2,287,814.00$ 273,250.00$ 2040 101,758$ 42,548.00$ 45,813$ 13,397.00$ 2,540,403$ 228,187.00$ 2,312,216.00$ 274,000.00$ 2041 103,793$ 42,548.00$ 45,813$ 15,432.00$ 2,565,807$ 228,437.00$ 2,337,370.00$ 274,250.00$ 2042 105,869$ 42,548.00$ 45,813$ 17,508.00$ 2,591,465$ 228,187.00$ 2,363,278.00$ 274,000.00$ 2043 107,987$ 42,548.00$ 45,813$ 19,626.00$ 2,617,380$ 227,437.00$ 2,389,943.00$ 273,250.00$ 2044 110,146$ 42,548.00$ 45,813$ 21,785.00$ 2,643,554$ 226,187.00$ 2,417,367.00$ 272,000.00$ 2045 112,349$ 42,548.00$ 45,813$ 23,988.00$ 2,669,989$ 226,437.00$ 2,443,552.00$ 272,250.00$ 2046 114,596$ -$ 45,813$ 68,782.98$ 2,696,689$ 227,187.00$ 2,469,502.00$ 273,000.00$ 1,832,627$ 723,316$ 870,447$ 254,994$ 41,563,655$ 4,482,303$ 37,081,352$ 5,352,750$ 37,081,352$ EXHIBIT E TID 14 CASH FLOW PROJECTION Innovation Way Bond Payments 1. DJS's share of the Innovation Way Extension is $561,210 2. Winter Park Builder's Subdivision will be composed of 200 Multi-family units, 184 Vilas units, 146 Townhome units , and 108 detached Assumptions Year Hartford $DJS Increment EDWC Impact Fund Debt Service Innovation Way Debt DJS Pay-Go EXPENDITURE Innovation Way DebtWinter Park Increment Single-Family units City's End Balance (FY 2033) DJS PROJECT CITY OF HARTFORDWINTER PARK BUILDERS PROJECT 3. The Winter Park Builder's Subdivision is anticipated to be built out over 5 years, with an assessed value of approximately $175,000,000 Exhibit F Map of Existing Uses & Conditions of Real Property Exhibit G Map of Development Layout Exhibit H Opinion of City Attorney July 9, 2026 Mayor Dennis J. Regan City of Hartford 120 N. Main Street Hartford, WI 53027 RE: Project Plan for Tax Incremental District No. 14 Dear Mayor, Pursuant to § 66.1105(4)(f), Wis. Stats., any project plan for a tax incremental financing district must include an opinion provided by the City Attorney advising as to whether the plan or amendment is complete and complies with § 66.1105, Wis. Stats. As City Attorney for the City of Hartford, I have been asked to review the above - referenced project plan for compliance with the applicable statutory requirements. Based on my review, in my opinion, the Project Plan for the City of Hartford Tax Incremental District No. 14 is complete and complies with the provisions of § 66.1105, Wis. Stats. Sincerely, Prust Legal, LLC Ian Prust City Attorney