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RESOLUTION NO. 30-82
RESOLUTION AMENDING A PROJECT PLAN FOR
TAX INCREMENTAL DISTRICT NUMBER SEVEN
CITY OF MUSKEGO, WISCONSIN
By the Common Council of the City of Muskego.
WHEREAS, pursuant to Section 66.46 of the Wisconsin Statutes, the City
of Muskego has created Tax Incremental District Number Seven,City of Muskego,
and
WHEREAS, the ,City of, Muskego. Planning, Commission has prepared and
adopted a project plan for Tax Incremental District Number Seven, and
WHEREAS, the Planning Commission has prepared an amended project plan
for Tax Incremental District Number Seven, which:
1. Includes a statement listing the kind, number and location of all
proposed public works or improvements within such district;
Contains an economic feasibility study; 2.
3. Contains a detailed list of estimated project costs;
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4. Contains a description of the methods 6f financing all estimated
project costs and the time when such costs or monetary obligations
related thereto are to be incurred;
Includes a map showing existing uses and conditions of real
property in such district;
5.
6. Includes a map showing proposed improvements and uses therein;
Shows proposed changes of: 7.
a. Zoning ordinances
b. Master pl an
c. Map
d. Building codes
e. City ordinances
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8. Contains a list of estimated nonproject costs;
g. Contains a statement of a proposed method for t~e,relocation of' any
person to be displaced; and
WHEREAS, the Planning Commission has held a public hearing and has
notified the chief executive officers of all local government entities having
the power to levy taxes on property located within.the district, including the
school board of any school district which includes property within the
district pursuant to Section 66.46(4)(e), Wisconsin Statutes; and,
WHEREAS, the City of Muskego Planning Commission has submitted such
amended project plan, a copy of which is attached as Exhibit A, to the Common
Council of the City of Muskego;
NOW THEREFORE, BE IT RESOLVED that the Common Council of the City of
Muskego fi nds that: .
1. Such amended project plan for Tax Incremental District Number 7,
City of Muskego, is feagible, and
2. Such amended project plan is in conformity with the master plan of
the City of Muskego.
BE IT FURTHER RESOLVED that the Common Council of the City of
Muskego approves such amended project plan for Tax Incremental Oistrict
Number 7, pursuant to the provisions of Section 66.46, Wisconsin Statutes.
Adopted this ;(\...3 F..vfJù1ß~' 19!1~ day of
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Mayor
Attest:
~~4 City Clerk
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EHLERS AND ASSOCIATES, INC.
FINANCIAL SPECIALISTS
f'IRST NATIONAL-SOD LINE CONCOURSE 507 MARQUETTE AVE. MINNEAPOLIS, MINNESOTA 55402 889-9291 (AREA CODE 612)
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Amended
Project Plan
Tax Incremental District No.7
City of Muskego, Wisconsin
Statement of Kind, Number and Location of Proposed Public Works
Tax Incremental District No.7 (TID No.7) of the City of Muskego was
created to promote industry as authorized in Wisconsin Statutes 66.52 to
provide greater employment opportunities and to broaden the property tax base
to relieve the tax burden of residents and home owners. It is recognized that
the availability of suitable sites is a prime factor in influencing the
location of industry. The city has a successful industrial park located in
part in this district and its expansion is desirable in the near future.
Other public works are necessary to provide for this growth and any direct or
indirect costs of these projects are considered project costs for this tax
increment district and are eligible to be paid from tax increments of the
district. All projects include the cost of engineering, design, survey,
inspection, materials, construction installation, acquiring of property or
easements, restoring property to its original condition, apparatus necessary
for the public work, legal and other consultant fees, permits, testing,
environmental studies, judgements or claims for damages and other expenses
included as project costs including but not limited to the following:
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A. Pumphouse and well to supply additional fire protection water for
sprinkler systems and to lower fire insurance ratings.
Police building, equipment and improvements including the completion
and expansion of the police building in the district, providing for
police training facilities, communication and other equipment
necessary for law enforcement, property protection, a truck sander
and striper. .
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B.
C. Pro rata share of a major sanitary sewer interceptor will interconnect
. the. two sewer treatment' pl ants and eventually connect Muskego sewers
to the Milwaukee metropolitan system or a new facility of the city.
D. Road construction including grading, graveling, paving, ditching,
sidewalks, curb and gutter and signage.
An addition to the public works building including construction and
equipment.
E.
F. Development of an open space park and historical park including site
improvement, sodding, planting and equipment.
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City of Muskego
Tax Incremental District No.7 Page 2
G. The construction of a library and community meeting center as a part
of the municipal building complex, including equipment.
H. Pro rata share of sanitary sewer facilities study.
I. Expansion to the industrial park including site development, sewer,
water and street extensions and property acquisition.
J. Imputed administrative costs including but not limited to a portion of
the budget for city administration, building inspection, assessing,
zoning, planning, public works, legal and financial fees.
K. Organizational costs including but not limited to the fees of the
financial consultant, attorney, planner, engineers, surveyors, map
makers and other contracted services, publication and supplies.
L. Capitalized interest, finance fees, bond discounts, bond redemption
premiums, bond legal opinions, ratings, capitalized interest, bond
insurance and other expenses related to financing.
M. Pro rata share of capital cost contribution for any project providing
sewerage treatment capacity, such as a hookup to the Milwaukee
metropolitan system, some other joint project or construction of a new
or expanded Muskego owned facil ity or facil iti es. Thi s proejct cost
might take the form of a long-term contract with a joint facility or
debt to pay for capital costs to a metropolitan, jointly owned or city
owned facility. This allocation of project cost shall not be financed
or expended for any other purpose.
N. Telephone system for city hall, library and department of public
works; recorder and offi ce equi pment.
O. A portion of the cost of a tornado warning system.
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City of Muskego
Tax Incremental District No.7 Page 3
II. Economic Feasibility Study
The City of Muskego's corporate limits are almost coterminous with those
of the former six mile square Town of Muskego in the southeast corner of
Waukesha County. Three large lakes enhance the landscape. Most urban
development is concentrated around the lakes and in the northeast corner
closest to Milwaukee. State Highways No. 15, 24 and 36 connect Muskego to
Milwaukee County and County Highway Y provides connection to the City of
Waukesha. The city is 20 minutes west of General Mitchell Field, serving
Milwaukee with scheduled airline service, and 15 minutes south of the Waukesha
County Airport with nonscheduled service. Muskego has become a regional
retail shopping center with the opening of Parkland Mall, its largest
taxpayer.
Recognizing the need for expanded industrial tax base, the city opened and
partially serviced an industrial park in 1972. All 110 acres in the park are
now serviced with sewer, water and streetS. Marek Lithographics, Inc.,
creative lithographers, was the first industry to locate in the park. This
company, with 23 employees, has been located in Muskego approximately 7 years.
Interstate Tool and Engineering Corporation, a tool and die manufacturer
employing 36, has been located in the industrial park for 6 years. Brodel
Machine Corporation moved from Milwaukee to the industrial park about 5 years
ago. This company subcontracts machining. Other businesses in the industrial
park include Robert A. Gumieny, a wholesale beer distributor; Alpine Lanes, a
bowling alley; Lloyd Hamm Contractors; Tinti Contractors; and Ludman Machine
Corporation.
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Other industries in Muskego include Muskego Rendering Co., which has 36
employees, Reynolds Machine Company, Inc., with 52 employees and Precision
Schrew Thread Corporation with 70 employees.
The city has used a combination of land use zoning, subdivision control
ordinances and long range capital improvement finance planning to control
devleopment within the community. Land use zoning concentrates development in
that portion of the city most adjacent to Milwaukee. Subdivision ordinances
assure quality construction and restricted density levels. All city capital
improvement financing to be repaid from general revenues is limited to a
self-imposed debt service limit
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of 0.34% of assessed value. ~
The city is under an order by the Wisconsin Department of Natural Resources
whi ch prohi bits it from a 11 owi ng addit i anal connect ions to its sanitary sewer
system. This moratorium against future sewer connections prohibits the city
from issuing new construction building permits in all but three subdivisions
which were approved prior to the moratorium. Because the city is within the
Milwaukee Metropolitan Sewer Service Area, which is under a court order
specifying discharge standards, the City of Muskego is unable to expand its
sewer facilities under the regulations of the Department of Natural
Resources. The city and the state are cooperating in seeking judicial
of this dilemma and the lifting of the sewerage moratorium, subject to
determi nat i on that expansi on of the Muskego temporary treatment, pl ants
justified. '
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(', City of Muskego
Tax Incremental District No.7 Page 4
., Building permit data has been as follows:
1976 1977 1978 1979
Si ngl e fami ly 158 158 94 68
Valuation $5,567,368 $6,887,885 $5,2"18,248 $3,932,530
Mult i -fami ly 9 0 0 0
Valuation $1,052,000 0 0 0
Remodeling and
additions 147 169 120 100
Valuation $464,736 $507,257 $351,878 $757,506
Garages 39 42 42 36
Valuation $112,430 $122,624 $123,578 $111 ,962
"~ Commerci a 1 7 11 14 5
Valuation $608,506 $599,600 $1,800,778 $1,275,000
Other permits 227 158 130 126
Valuation $310,348 $293,395 $295,563 $436,648
The following is a summary of U. S. Census data for the city.
PQpu 1 at i on Trend:
1950 U. S. Census
1960 U. S. Census
1970 U. S. Cens~s
1980 Preliminary
U. S. Census
4,157
8,888
11,573
15,020
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" City of r1uskego
Tax Incremental District No.7 Page 5
. Incomej AgejEducat i on Data:
State
City of Waukesha Overall
Muskego COtjnty Average
Per capita income $ 3,194 $ 3,634 $ 3,046
Mean fami ly income $13,042 $14,285 $11 ,135
Medi an fami ly income $12,581 $12,795 $10,068
Percent below poverty level 3.8% 3.2% 7.4%
Percent above $15,000 income 31. 9% 34.3% 19.8%
Median school years completed 12.4 12.5 12.1
Medi an age 23.8 25.4 27.2
Housing:
f~ Percent O~tner occupi ed 89.0% 77.9% 69.1%
Percent one unit structure 94.2% 83.4% 70.7%
Percent bui 1t before 1939 27.7% 28.3% 52.7%
Percent bui 1t after 1959 23.5% 33.3% 20.2%
Owner median value $22,900 $25,300 $17,300
Median contract rent $105 $122 $91
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The follobJin';J. CI',aJ-t I ;;;hobJE the hi;stoJ-ic i,!nd pl-ojectf)d equ2lized l!alue
of taxable pr0party within the municipality, The equalized ~aluBtion
growth based upon the percentagk mlthod Ehows Q 16.28% increase per year,
which is the median perce~tagk increase during the histùric period.
The St1"<:, i <:.11'1'1: 1 i n(~ method i ne,',,<:,,:(;;;;. equa I i zed 'Ja 111.;; \,.Ii tli ,,\11 ,,:nnua I.
inC:Tcment (,f ',1. ::)7~'7[1()<?II., rep)"(.';;;(~nt ing thc' avüri,i'3'" h ;;,;to',.. i C;,)!. :ncï'liIi(:'n'l:
froili 1976 tD 1981,
CH{.,IH I EQUALIZED VALU~TION PROJECTION
i'!U~>I<EGO, iJI lO/l,':./Gl
!----PERCENTAGE HETHOD---I---STRAIGHT LINE METHOD--I
YEí:il(
:1.'1'76
1'1'TI'
1978
197'1'
J.9BO
1'/BI
.J "D', .'..' ".~ 19B3
:I. 98'+
19B5
" C":> 1
.I. ,..,., l?87
19BB
:i,'?B9
1 ?~;O
19S'I
E(;iL;;~L IZED
VI:;,LLJE
1 BS'::)1.1. 2;? [) 0
22û:l7:i.71Ü
26<'>711:.1""00
31?6"1'5T(0
36 (j ::1 () ~:>~:;;I' ()
i;"i'?1?2"S70
'+!I.O?:i,I.!.i.j.l.j.').);
151 ~,7~,~'f~'GB')('
'5962:i.i.j.072i;
6?3;,92207.);
G06177021i;
'1'2:71.i,I;,2221.1.;;
l ()':;'()08()1~;?:L');
:I. 2671572:L ?;,:!);
:I. 1.1.7:.30' 6372;'1';('
l7:i.:ıO'6ÜÜI+:3');
P:~F:CEì.1T
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16,2\3
2:1., :LIJ,
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16.28
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:,11 ?67~5770
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:571';;",.2670
1.1.:1. 7:1.Ó2761.i.');
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1.183:1. ()2O'~'j2;('
1':1:3:!. 07:50i,I.,',;;
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i; i' HD..JECTED
D ? F Ó
PROJECTED INCREMENT a T?970()'f!.I.
PEFiCENT
,00
:1.6.2\3
21,1'+
1';'. B6
L.:'.,7:i,
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:L 0,01
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6. 6~'
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15. d?
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Chart II reflocts existing and projeet.d conEtitutiona!
borrowing for <:.111'1 era I obligation debt. With the expanEiGn rssultin<:.l
f,-om p"'oj()c'I:~" in the ta!( in'::';",)m(~n'l <ji~;t,"ict(~".) 'lh,!.,.'" ui 1\ t,e an inc.,.'(;"\;'.,,
in the borrowin<:.l capacity blyond that of Chart II, baE0d upon the
p,"ojec:tion by the ".'I:',-ai,:)h'l 1 il"1') m,,-,tI1od,
CHtdH II PRO..JECTED G, D. BORROWING CAPACITY < i::ND OF YEtd~)
BASED ON A STRAIGHT LINE METHOD VALUATION INCREASE
BUDGET
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371'1 S'~::(;70
'1.J.7162761.1,
1.i.;",~;:!.:;;2B;')B
'1.<;'3102'1':')2
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72092:~~';:I.Ó
D!'W~:;8 DEBT
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DEBT NET BDRROWING
BALANCE CAPACITY
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~',;":> 0 0 Ü [I
Ó20000
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City of Muskego
Tax Incremental District No.7 Page 7
In addition to general obligation bonds, the city can issue mortgage
revenue bonds to be repaid from revenues of the sewer and/or water system,
including revenues paid by the city that from any source represent the service
of the system to the city. There is no statutory or constitutional limitation
on the amount of revenue bonds that can be issued. However, sewer and water
rates of the city are controlled by the Wisconsin Public Service Commission
and the city must demonstrate to bond underwriters its abil ity to repay
revenue debt with the assigned rates.
It is anticipated that special assessments may be levied to benefitted
properties to pay part of the cost of street, curb, gutter, sewer and water
extensions. The city can issue special assessment "B" bonds pledging revenues
from special assessment installations to the extent assessment payments are
outstanding. These bonds are not counted against the city's constitutional
debt limit.
The creation of a Tax Incremental District allows the city to consider
the use of tax increment notes or bonds. This security would be retired from
tax increment revenues generated solely within this tax incremental district.
Any use of this security would require a historic record of tax increment
revenues that would demonstrate the ability of the district to generate
adequate revenues. To date this security is not marketable and its
marketability is dependent on a Supreme Court decision.
Based upon the economic characteristics and the financing resources of
the city, all projects outlined in this project plan can be financed and are
feasible.
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city of Muskego
Tax Incremental District Mo. 7 Page 8
TID Mo. 7 has already experienced a considerable increase in property
values from its 1979 base of $1,120,800 to $3,902,040 as of January 1, 1981.
This ncrease entitled the city to collect $23,107 TIF revenues in 1981 and
$50,456 to be collected in 1982. This historical data was incorporated into
the following pro forma which projects revenues sufficient to retire the debt
already incurred and that proposed to finance all projects of this district.
The pro forma is based upon the following assumptions:
The base value of the district with an adjustment for the exemption
of Line A personal property is $1,120,800.
Private development which results in new tax base will be generated as
of January 1 as follows:
1981
1982/83
1984/85
1986/89
1990/91
1992/96
$ 375,000
3,500,000
4,000,000
4,500,000
3,000,000
2,000,000
The 1982 equalized tax rate of $18.09 per thousand will decline at the
rate of 25i per thousand per year.
Property values will continue to increase ~t the rate of 6% per year
because of inflati6n.
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WISCONSIN TAX INCREMENT PRO FORMA FOR: MUSKEGO .-. TID 7
BASE VALUE 1,120,800 INFLATION RATE 6,0%
INITIAL INCREMENT 0
INITIAL TAX RATE 17.59 TAX RATE INCREMENT -.25 TOTAL NEW CONSTRUCTION ~9,375,000
PREVIOUS INn.ATIDN CONSTRUCTION TOTAL TAX TIF
YEf~R VALUATION INCREMENT INCRE~jENT VALUATION RfYfE REVENUE
1981 :1.,3.20,800 0 0 2,5J.O, 200 If.,,6 23,lO7
:1.982 2,:510,200 0 0 :5, ')02, Olj.O 18.:1. ~)O ,'+:'56
1983 :3,902, OLI.O 23'.1., :1.22 ~n~:;, 000 I.j., ~):I.:I., :1.62 17,6 59, 7'.f9
_;lEI.\. lj., 511,162 270,670 3,500,OOn \3,281,8:52 :1.7.3 12lj',2fß
._')85 B,2Bl,B32 '+96, ',01 0 :3, :')00,000 3.2, 27B, 7'+2 :1.7,:1. 190,799
19136 12,2-18, 7lj.2 736,725 1+,000,000 1.7,0:1.:5,'+67 16,B 267.7"11+
19B7 :1.7, 01~j, ll.67 l, 020, 9~!B i.I., 000,000 22,036,39:'5 :1.6.6 31.1.7,096
:l.9BB 22,036, 39!"j 1, :522, 1.BLI. 1.1., :"iO 0,000 27 . B~)B ,57B 16, <\ lj.~H, 000
1989 27 ,8~:;8, 578 l,67:1.,~i15 I.j., :"iOO, O()() 31.,,030, on :1.6,:1. 529, 6:1.3
1.'990 3'+,030,0',03 2, OLJ-:I., 806 I+,~;OO,OOO 1+0, :'57:1., B99 :I.~i, B 625,007
:1.99:1. 1+0,5"7:1., B99 2,1+31.1.,:HI.j. 1+, :')() O. () 0 () 1+7, ::;06, 2L~ :I.:"i, 6 "(2:.3, ;~1+8
1.992 1.1.7,506,212 2,D50.3"73 ~" 0 () (), 000 5:5, :3~)6, ~.;B5 l~i, 3 BO:l., 3')~i
15'93 53, 356 ,:')85 3,20:l, 3'?:'5 :5,00 (), 0 () 0 ::i'?, :'):'57, ')80 :1.5,:1. 881,911.1.
:1.99'+ 59, ~;57, 980 3,~in,I.I.79 2,()O(),OOO b~'), 1.31, '+59 J.!.I.
. 8 9:"iO, () 13
:1.995 6:,), l31. , 1.1.:')9 :5, S'07, 88B 2,000,000 7:1. , () :59, 31H :i.lI.,6 :1.,020,20:'5
1.996 7:1.,039, :51+7 '+,262,:%l 2,000,000 77,30l,707 1.LJ., 3 1.,O'?2,526
1'?97 77,301.,707 ,1+,6:m,:l.02 2,000,000 8:5,9:5'?,Bl0 :1.1+,:1. :I., l67 ,.01.0
1.9'?8 83,'?3'?,BJ.0 5, 036, :;B9 2,000,000 90,976,1.'?9 1.:5.8 1.
, 21.1.3,687
TOTAL.S 1+'?,:r75,OOO 1. 0,531+, 8B2
EXCL.USIVE PIWGRAM BY EHLERS Ii, ASSOC, INC, Ii ~' F ',0
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City of Muskego
Tax Incremental District No.7 Page 10
Exhibit 1 demonstrates TIF revenues along with capitalized interest and other
revenues to be collected would be sufficient to retire existing and proposed
debt for TIF projects.
Principal and interest payments for Issue 1 in this exhibit represents this
district's proportionate share of $1,310,000 G.O. bonds issued in 1977.
Issue 2 which has entries for principal only represents this district's share
of $670,000 G.O. notes issued in 1979 and $1,225,000 G.O. notes issued in
1980.
The city will issue $3,950,000 short term G.O. promissory notes early in 1982
to finance projects to be completed during the year. Late in 1982 $8,800,000
G.O. promissory notes will be issued for 1983 projects. Both these note
issues will be refinanced with long term G.O. bonds in the fall of 1983.
Issue 3 represents principal and interest payments of that issue allocated to
this district.
Issue 4 represents this districts pro rata share of capital cost contribution
for sewerage treatment capacity through hookup to the Milwuakee Metro Sewer
System.
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EXHIBIT 7 FOR MUSI(EGO TID 7 2/ .l5/>32 r'<<liE 1
19tH) 1981 1982 191)3 198~ 19"5 1986 19"7
REVENUES
BEGINNING BALANCE 0 12,~.~90 '1.3,793 :15,619 74.2, :116 :557, 1[~2 150,573 IJ'I,1J99-
CAP'JTALIZED INTEI<EST 12,290 2:;,000 0 '13'.1.,0'.1.\3 0 0 0 (J
TAX 1 NC REMENT I<EVENUES 0 23, :L07 50,456 ö9,"/4-9 :L~I" 283 '.1.90,799 267,TI'f 31J.7, 0%
INTEI,EST INCOME 0 1, 1.68 ".,160 :1,:5fJI, 70,520 :<3,955 1.'),:30" 0
ClTHER INCOHE 0 0 0 0 150,000 :L50, 000 1:;0,000 150,0110
TOTAL REVENUE 12,290 61,56:; 98,'1-\)9 \329,"1'70 1,087,11)> 732, 1 TI 5\)2,651 ".07,197
I~XPENDITURES
ADMINISTRATIVE COST 0 5,000 5,000 :;,000 0 0 0 0
ISSUE 1 PRINCIPAL 0 0 27,".50 :10, :500 ,,[;,750 22,87:5 91.,500 91,500
ISSUE 1 INTEREST 0 0 1.7, 56B 1.6,1[.01 1.5,05') 12,95:5 11.,880 7,533
ISSUE 2 PRINCT PAL 0 12,772 12,7n 3:5,5:53 :59,:593 ".2,339 I[.B,7:50 :';6, ~~:L2
Iß:3UE 2 I Nl'ErIEßT 0 0 0 0 0 0 0 0
ISSUE 3 PIUNCIPAL 0 0 0 II 0 0 :16,985 16,9\)5
ISSUE 3 INTEREST 0 0 II II 6:!9,29'.1 511:5,1[.35 503,".:55 501, '1'19
ISSUE ', PIUNCI PAL II 0 II II 0 ,0 II Ü
ISSUE " INTEREST \I \I 0 0 II 0 0 0
TOTAL EXPENSES II 17,772 62,7911' 87, "~;4 729,696 :,8:1.,60" 672,:5511 67",009
ENDING BALANCE 12,290 ".3,7'13 35,619 7".2,:nl> 3::;7,'.,.22 .I.:';11,5'1:i \39,1399-- 21>6,\J.l.2-'
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EXHIBIT 7 FOR HUSI(EGO TID 7 21 J. 5/112 I',\CJE ,..
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:1.9811 :1.989 1990 1991 1992 1993 199" 199';
REVENUES
BEGINNING BALANCE 266,8:1.2- 37B, 11/.3-" '1.11'1,260'- ~,03,1'I38- 05,659-' 1'+2,11112 "11'1.,216 1f72, 1103
C,WITALIZED INTEI~EiST II 0 II II II {} 0 II
TAX INCREIIEiNT r~EVEiNUES '137,0110 529,613 1>2li,Oll7 723.:1"'1'1 13111,11'15 13131,9:1.1'. 950, IIl~' 1,0211,205
INTEREIJT INCONE II 0 II II 0 '[.5,519 31'1, 'fOl 'flf,876
lHI-IH INCOME 150,000 150,0110 1,;11,1100 1::;0,0011 150,000 ;1511,0110 0 0
TOTAL REVENUE :520,188 301,550 370, n9 ,;69, '.'.10 131>5, 7:!6 1, t:J7, 73'.'. 1,392,6311 1,537, 'w,
lıXPENDITUHES
ADMINISTRATIVE COST 0 0 0 0 0 0 0 0
ISSUE 1 PIHNCIPAL 61,0011 28,973 II 0 II 0 0 II
ISSUE 1 INTEREST 3,050 87,903 II 0 II 0 0 0
ISSUE 2 PRINCIPAL 100,10S 513,159 96, 15~, II 0 0 II 0
ISSUE 2 INTEREST 0 0 0 0 II II 0 0
ISSUE 3 PIHNCIPAL 33,970 3:\, 970 8".,925 169,850 2:';4,,775 339,700 509,5:,0 679,1.1.00
I SBUE 3 INTEREST 500,123 '1%,fJll '1.93,"99 4.85,219 '168, 659 443,IHU 4.10,697 361.,016
ISSUE 4 PRINCIPI.;L 0 0 0 0 II 0 II :189,957
ISSUE 'I INTE[{EST 0 0 0 0 II 0 II 0
TnTAL EXPENSES 6'/8,251 705,8113 67'1,577 655,069 723,'13'.1. 78;,,3:1.8 nO,2'f7 1,2:\0,373
ENDING BALANCE 378,1163- "01.1.,268- 30:5, fl30- fl5 ,659- ).'1.2,:5112 ".04.,216 'f72,303 30'7,09:1.
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EXHIl'IT 21l5/U:1 ;3 7 FOR líUSKEGO TID 7 PM;[
1996 1997 1991J
HEVENUES
DEIJINNING BALANCE 307,091 20", '166 2,,7, '(f,6
CM'HAUZED INTEHEST II 0 0
TAX I NC HEMENT HEVENIJES 1, 092, 526 1,167,1110 1, :1".:3, 687
INTEI~EST INCOME 29,17" 27, 1I~,:3 23,5:"
OTHER INCIJt1E 0 II II
TOTAL REVENUE 1, ',28, 791 1",78,829 "51,,.,9811
EXPENDITOHES
ADMINISTRATIVE COST 0 II II
ISSUE 1 prnNCI PAL 0 0 II
ISSUE 1 INTEREST 0 0 II
ISSUE 2 PRINCIPAL 0 0 0
ISSUE 2 INTEREST II II II
ISSUE 3 PRINCIPAL S~9, 250 1,1119,100 L 15".,91111
ISSUE 3 INTEREST 29".,77[, 21.1,973. 11.2,611
ISSUE ". PIUNCI PAL II 0 II
ISSUE " INTEREST 0 II 0
TOTAL EXPENSES :I., I"."., 02:, 1,2:11,073 1. 267,591
ENDING BALANC,E 2S", 760, 2":1",;6 ::"0,389
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PIWGRAlï COpy HIGHT BY EHLEI~S & ASSOCIATES, ING MAY 26, 1981
D 2 F 17 DATA DISC :1 FILE ".7 NAME MIJSI<EGO, TID7
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1999
II
II
0
0
0
II
0
0
II
II
0
0
II
II
II
II
II
City of Muskego
Tax Incremental District No.7 Page 14
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Project Schedule
Tax Incremental District No.7
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Proj ect 1979 1980 1981 1982 1983
(A) Pumphouse & well $120,000
(B) Police building,
equipment & improvements 30,192 $ ) 5ó,oqo $ 200,000
(C) Major sanitary sewer
interceptor 52,350
(D) Road construction 85,000
(E) Public works building
addition $200,000 /fß,Öð{)
., (F) Park development 51,000 53,000
(G) Libary construction 1,000,000
(H) Sanitary sewer
facil it i es study
2,618
(1) Industri al park
expansion 1,000,000 1,200,000
(J) Administrative costs 5,000 5,000 5,000
(K) Organizational costs 3,720
(M) Capital cost
contribution for any
project provi di ng
sewerage treatment
capacity 189,957
(N) Telephone system for
. city hall 7,000
(0) Tornado warning system 5,000
Total s $153,912 $207,618 $1,346,500 $2,705,307
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City of Muskego
Tax Incremental District No.7 Page 15
IV. A Description of the Methods of Financing and the Time when such Costs or
Monetary Obligation related thereto are to be Incurred
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A. In 1977 the city issued $1,310,000 general obligation bonds to
fi nance in part the payment to the Town of Norway and $320,000 and
$365,000 nonassessable sewer costs for the Lake Denoon area. This
represents 52% of the principal of the issue. Thus, 52% of the
principal and interest on these bonds is the responsibility of
TID No.1 as follows:
Total principal and interest
Ti mes 52%
$1,875,081
x .51
TID No.1 share of debt
payments $ 975,042
Transfers of money from the tax increment fund as authorized by
Wisconsin Statutes 66.46(6)(c) shall be made to the sinking fund for
these bonds from time to time until $975,042 has been paid.
Of this same bond issue, $400,000 was for the construction of a
police building, of which $19,825 principal has been repaid. Thus,
30.5% or $442,650 of the remaining principal and interest on this
loan of $1,451,312.50 is the liability of TID No.7.
B. In 1979 the city issued promissory notes totalling $670,000, a
portion of which was used to finance planning costs for the city's
seven tax incremental finance districts, payment to the Town of
Norway Sanitary District that portion of treatment and interceptor
costs allocated to TID No.1 and other projects within various
districts. In December, 1980 the city issued $1,225,000
G.O. promissory notes to fund TIF projects completed in 1980 and for
planned 1981 capital projects some of which were eligible project
costs in each of the seven districts. A total of 63.12% principal
and interest of these two issues will be apportioned to the seven
districts as shown below. Transfers of monies from the tax increment
funds as authorized by W. S. 66.46(6)(c) shall be made from time to
time to the sinking funds of these notes until the obligation of the
various districts has been met.
nD No.1
nD No.2
nD No.3
nD No.4
nD No.5
nD No.6
nD No.7.
princi~al and Interest
406,875
563,627
388,325
55,342
12,676
22,260
502,410
All proceeds from the 1980 issue are not yet expended, therefore,
final proration of this and future i~sues will be made and reported
in future annual reports.
City of Muskego
Tax Incremental Oi stri ct No.7 Page 16
'. C. 1982 Promissory Notes
Short term G.O. promissory notes will be issued early in 1982 to finance
various projects of the seven districts to be constructed or purchased
during 1982. The note issue is calculated as "follows: .
Project costs
TIO No.1 $ 642,000
no No.2 515,000
no No.3 230,000
TIO No.4 650,000
no No.5 125,365
TIO No.6
TIO No.7 1,341,500
Total $3,503,865
Note discount 80,000
Finance fees 25,000
Interest during
construction 491,135
.~ Note issue $4,000,000
Total principle and interest of these notes will be apportioned to the
seven districts as shown below:
TIO No.1
TIO No.2
no No.3
TIO No.4
TIO No.5
TIO No.6
TIO No.7
18.32
14.70
6.56
18.55
3.58
.00
38.29
It is anticipated these notes will mature in 1984 and will be refinanced
with long term G.O. Bonds to be issued late in 1983. "
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City of Muskego
Tax Incremental Oi stri ct No.7 Page 17
o. 1982 Promi ssory Notes
Late in 1982 short term G.O. promissory notes will be issued to finance
various projects of the seven districts to be constructed or purchased
during 1983.
The note issue is calculated as follows:
Project costs
no No.1 $ 510,000
no No.2 887,050
no No.3 84,650
no No.4 2,037,000
no No.5 592,300
no No.6 1,214,700
no No.7 2,510,350
Subtotal $7,836,050
Note di scount 176,000
Finance fees 45,000
Interest during
construction 742,950
Note issue $8,800,000
Total principle and interest of these notes will be apportioned to the
seven districts as shown below:
no No.1
no No.2
no No.3
no No.4
no No.5
no No.6
no No.7
6.51
11. 32
1.08
25.99
7.56
15.50
32.04
It is ant i ci pated these notes wi 11 mature in 1984 and wi 11 be refi nanced
with long term G.O. Bonds to be issued late in 1983.
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City of Muskego
Tax Incremental District No.7 Page 18
E. 1983 G.O. Bonds
It is anticipated that in the fall of 1983 the city will issue long term
Genera 1 Ob 1 i gat i on Bonds to refi nance the short term promi ssory notes
issued during 1982 for 1982 and 1983 projects. This will allow the city
to take advantage of the maximum number of years allowed to generate tax
increments without extending any maturities beyond 15 years which is.
compatible with today's market demand. It is likely this will result in a
substantial interest saving, as well as allow the city to issue only
enough long term debt to fund projects actually completed.
Assuming all projects included in the project plans of the seven districts
are completed, the bond issue is calculated as follows:
1982 Promissory notes
1982 Promissory notes
$ 4,000,000
8,800,000
$12,800,000
304,000
52,000
2,044,000
Total
Bond discount
Fi nance fees
Capitalized interest
Bond issue $15,200,000
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EYHIBIT - 2.00 81PUTEH HUN FOH NLJSI<EGO. TID
DEBT SERVICE PLANNING
PRINCIPAL ~;:I,::;, 200,000
INTEREST RATE 9,7500%
DATE OF BONDS 1983
INTEREST 1ST YH
YEAI~ PRINCIPAL
1 98lj.
1985
:IS86
1987
'~B
.....;39
19')0
:1.9S'1
1')')2
:1.';'93
1'79'+
1'795
19'76
0
0
::jO, 000
:jO, 000
100,000
100,000
250,000
500,000
750,000
1,000,000
l,:500,OOO
2,000,000
2, ~jOO, 000
3,000,000
3, '+00,000
1'797
1.998
TOTt,LS
2/11.182
DENON, BLOCI< 25000
FIHST NATLJHITY 1.986
1,250 TIMES YEARS INTEREST'
INTEI~EST
1. , B52 , :500 , 00
:1. , '+82, 000 , 00
1, '+B2, 000 , 00
1, I.J.77 , 1.25,00
1,'+72,250,00
I , '+62, :'ï 00 , 00
:1., '+:'j:~, 7~jO , 00
1, IJ.2B, Ti'5, 00
1, :579,625,00
1,306, ~jOO, 00
:1.,20'),000,00
1.,062, 7:j() , O()
%7, 7::j() , 00
62'+,0 () (), 00
331.,~.ıOO,00
TOTAL
1, m.ï2, ::.ı() 0 ,00
1, '+82, 000,00
1., :'j3;;'>
,
[j 0 0,00
1 , ~j27 , 12::; , 00
1, :'j7~'., ~'.:'.ıO, DO
1, :362, :'jOO, 00
I,702,7:'j(J,(JO
1,928, :.37::j, 00
~'., 12'), 6~'.~j, 00
;;'., :506, !"jO 0 , 0 0
2,709,OOO,(J(J
:5, 062, 7~jO, 00
;;,U,'(,750,OO
::\, 6~'.'+, 000,00
:;,731 ,:'jOO, 00
15,200,000 I8,B90,625,00 3lj,090,625,OO
AVE DEBT SERVICE FROM I9B3 TO 1998
AVE DEBT SERVICE FROM 1986 TO 1998
BOND YEARS 1.93,750,0000
AVE MATUHITY 12,7lj67
2,272,708
2, 36:'j, 8:'j6
PROGRAN COPYRIGHT BY EHLEHS AND ASSOC" INC, 3/1/1979, 6/2/I9BI .
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City of Muskego
Tax Incremental District No.7 Page 20
It is anticipated Muskego's payments for Milwaukee Metro Sewer will be
$827,700 per year for 15 years or $12,415,500. This cost must be pro rata
shared with the entire sewer service area. The TIDs share a total of 27.83%
divided as follows:
District Percent Dollar Amount
TID No.2 7.66 $ 951,027
TID No.3 1.28 150,918
TID No.4 8.68 1,077 ,665
TID No.5 2.55 316,595
TIO No.6 6.13 761,070
TID No.7 1.53 189,957
27.83 $3,447,232
These amounts will be transferred from the appropriate TID fund from time to
time until this obligation has been met. The city reserves the right to use
these funds for other sewage treatment facilities should the Milwaukee Metro
solution prove unworkable.
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City of Muskego
Tax Incremental District No.7
VIr.
Page 21
V. Map Showing Existing Uses (attached)
VI. Map Showing Proposed Projects (attached)
Proposed Changes in Zoning Ordinances
There are no changes needed in zoning ordinances to comply with this
plan.
VIII. Proposed Changes in Master Plan, Zoning Map, Building Codes and City
Ordinances
There are no anticipated changes in the master plan, zoning map,
building codes and city ordinances because of this project plan.
IX. List of Estimated Nonproject Costs
Private development and improvements $49,375,000
X. Relocation
It is not expected that there will be a need to relocate any person or
business in conjunction with this project plan. In the event
relocation becomes necessary at some time during the implementation
period the city will take the following steps and actions.
Before negot i ati ons begi n for the acqui sit i on of property or easements,
all property owners will be provided an informational pamphlet prepared
by the Wisconsin Department of Industry, Labor, and Human Relations
(DILHR) and if any person is to be displaced as a result of the.
acqui sit i on they wi 11 be gi ven a pamphlet on "Rel ocat i on Benefits" as
prepared by the DILHR. The city \~ill provide each owner a full
narrative appraisal, a map showing the owners of all property affected
by the proposed project and a list of all or at least ten neighboring
landowners to whom offers are being made.
The city will file a relocation plan with the DILHR and shall keep
records as required in Wisconsin Statutes 32.27.
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EXISTING
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PROJECT LOCATIONS - TID No.7
Legend
(A) Pumphouse/well - Ind. park
(8) Police building
(D) Roads/drainage - Ind. park
(E) Addn. to City garage
(F) Develop. of park in Ind.
park & historical park
(G) Library
(I) Expansion to Ind. park
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Other Items Included in District
(C) Pro-rata share of sewer inter. (H) Share of sewer facilities study
(J) Administrative costs
(K) Organizational costs
(L) Financing related costs
(M) Share of Mlke metro sewer
(N) Telephone system
(0) Tornado warning system
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