4.11.2024 Joint Review Board Meeting MInutes

JOINT REVIEW BOARD MEETING MINUTES 4/11/2024 Government Unit Conducting Meeting: Joint Review Board Meeting Date: April 11, 2024 Time: 5:00 P.M. Place: 400 4th Ave S, Park Falls Members of the Joint Review Board Present– Mayor Tara Tervort, Chequamegon School District Administrator Kyle Cronan, Price County Administrator Nick Trimner, NTC Vice President of Business & Technology Chet Strebe, Paul Ross Staff: City of Park Falls- City Administrator Brentt P. Michalek, Shannon Greenwood Also Present: Baird Vice President Adam Ruechel Mayor Tara Tervort called the meeting to order at 5:00 PM RESOLUTION APPROVING PROPOSED PROJECT PLAN ALLOCATION AMENDMENT FOR TAX INCREMENTAL FINANCING DISTRICT NO. 3 Adam Ruechel noted that on April 4, 2024, the Plan Commission held a public hearing at which all interested parties were afforded a reasonable opportunity to express their views on the proposed Project Plan Allocation Amendment without any opposition. On April 4, 2024, the Plan Commission adopted a resolution approving proposed Project Plan Allocation Amendment for TID No. 3 and the proposed project plan. The requirements of Wis. Stats. §66.1105 have been complied with and that the development described in the documents reviewed by the Board would not occur without district use of tax increment financing. The economic benefits of TID No. 3 are sufficient to compensate for the cost of the improvements contemplated. The benefits of the proposed project plan allocation amendment outweigh the anticipated tax increments to be paid by the owners of the property in the overlying taxing districts. The Park Falls City Council approved a Resolution on April 8, 2024, approving the proposed project plan allocation amendment of TID No. 3. Motion by Kyle Cronan and seconded by Chet Strebe to approve the Resolution Approving Proposed Project Plan Allocation Amendment for Tax Incremental District No. 3. Motion carried, 5-0. Meeting was adjourned at 5:03. Prepared by: Shannon Greenwood – City Clerk