Loading...
Commuinity Development Authority- MINUTES - 4/29/2004- Amened APPROVED, AS AMENDED, 5/20/04 Audio recording of meeting is also available. CITY OF MUSKEGO COMMUNITY DEVELOPMENT AUTHORITY/COMMITTEE OF THE WHOLE MINUTES OF JOINT MEETING HELD APRIL 29, 2004 CDA Chairman Frank Waltz called the joint meeting of the Committee of the Whole and the Community Development Authority to order at 7:04 p.m. The meeting was noticed in accordance with the open meeting law on 4/28/04. PLEDGE OF ALLEGIANCE Those present recited the Pledge of Allegiance. COMMITTEE OF THE WHOLE MEMBERS PRESENT: Ald. Patterson, Ald. Salentine, Ald. Schroeder, Mayor Slocomb COMMUNITY DEVELOPMENT AUTHORITY MEMBERS PRESENT: Commissioners Rob Glazier, David Lidbury, Suzi Link, Gail Miles, Frank Waltz, Ald. Salentine and Ald. Schroeder. Also in attendance were Finance Director Dawn Gunderson, Interim Plan Director Jeff Muenkel, and Financial Advisor Todd Taves from Ehlers & Associates. GUESTS: 3, including Attorney Dick Fredrick New TIF Laws Presentation by Ehlers & Associates Mr. Taves of Ehlers & Associates presented the changes in the Wisconsin TIF laws. He mentioned that in general they are very beneficial and will give the communities more flexibility. The City of Muskego has two active blight/rehab TIDs (No. 8 and No. 9). The major features prior to change in the law:  Maximum life of 23 years  Expenditure period terminates seven years from date of creation TID 8 (created 8-15-2000) Period expires 8-15-2007 TID 9 (created 2-25-2003) Period expires 8-15-2010  Allowed one amendment within first seven years  Neither district eligible to be a donor or recipient The major features after change in law  Effective October 1, 2004, the maximum life for both TID 8 and TID 9 is extended from 23 years to 27 years with possibility of a four-year extension for a total possible maximum life of 31 years  Effective October 1, 2004, expenditure period is extended from termination seven years from date of creation to termination five-years prior to the district’s maximum unextended life TID 8 (created 8-15-2000) Period expires 8-15-2022 TID 9 (created 2-25-2003) Period expires 2-25-2025 Joint Committee of the Whole/Community Development Authority Meeting Page 2 April 29, 2004  Effective October 1, 2004, number of amendments allowed increase from one allowed within first seven years to a total of four that can be used at anytime  Effective July 1, 2004, both districts are eligible to become wither donor or recipient districts Over the last few years, some working groups have looked at ways to improve the TIF laws. He talked about the most significant categories of changes. One thing important to know about the law is in general it takes effect on July 1, 2004; but there are certain provisions, actually most of them, don’t take effect until October 1, 2004. In looking at whether an action is going to be treated under the existing statute or the new language, the date that is looked at is the date Common Council actually adopts the resolution creating a district or amending a district. The following is a synopsis of the changes in the TIF laws: Categories of Changes  Effective Date  Types of District  Maximum Life  Expenditure Periods  Equalized Value Test  Amendments  Pooling (Donor/Recipient)  Joint Review Board  Annexed Territory  Cash Grants  Public Hearing  Fees  Miscellaneous Changes Effective Date st  The new law takes effect 7-1-2004 (the 1 day of the fourth month following publication  Certain provisions are not applicable or do not take effect until 10-1-2004  The date the City Council acts to approve a resolution creating or amending a TID is the date utilized to determine the provision of law that applies Types of Districts  Same provisions as old law for industrial, blight and rehabilitation TIDs  Beginning 10-1-2004, adds new “Mixed Use” TID that allows expenditures for newly platted residential development with certain restrictions; intended for use by communities that have difficulty in attracting new residential development Maximum Life  Blight/rehab district maximum life 27 years  Blight/rehab district extension with Joint Review Board (JRB) approval 3 years  Industrial/mixed use district maximum life 27 years  Industrial/mixed use extension with JRB approval is not available Requesting an Extension Joint Committee of the Whole/Community Development Authority Meeting Page 3 April 29, 2004  Approval required from JRB; JRB must approve extension if an independent audit shows that the additional years are needed to repay the district’s obligations  For an industrial or mixed use TID (applies only to those created 10-2-2004 or th later), request must be made during the 18 year  For a blight or rehabilitation TID, request must be made at least one year prior to the end of the TIDs maximum life, otherwise, Department of Revenue may deny Expenditure Periods  Effective 10-1-2004, expenditure period for all existing and future districts, including amended areas, is five years prior to the termination of district’s unextended maximum life  All blight and rehabilitation TIDs, including Muskego TID 8 and TID 9, 22 years (27 year maximum life – 5 years = 22 years)  Industrial TIDs created after 10-1-2004, 15 years (20 years maximum life – 5 years = 15 years) In many cases, this means the expenditure of an existing district will be extended or reopened. Equalized Value Test  Eliminates completely the 7% test and replaces 5% test with a 12% test  Equalized value of the proposed TID base plus the value increments of all existing TIDS may not exceed 12% of the municipality’s total EV City’s current increment value is $512,400 (1-1-2003) or .03% of its total $1,829,918,300 equalized value.  New test applies to boundary amendments (Amendments made under old law were not subject to the EV test.)  For boundary amendments, the base value of the proposed amendment area is added to the value increment of all existing TIDs plus the value increment of the TID being amended (the base of the TID being amended is not included)  Test does not apply if purpose of amendment is to subtract property from the district Amendments  Districts allowed four boundary amendments, effective 10-1-2004 (1) applies to existing as well as new TIDs (2) anytime during the existence of the district (3) may add or subtract territory (4) subtractions cannot make district non-contiguous (5) expenditure period for amended area is same as for district (6) if a TID has already completed a boundary amendment under the old law, this counts as one of the four Pooling (Donor/Recipient)  Pooling allowed between existing and new districts, subject to various restrictions  Effective 7-1-2004  JRB approval and common overlapping taxing jurisdiction requirements still apply Joint Committee of the Whole/Community Development Authority Meeting Page 4 April 29, 2004  Donor district must demonstrate that it has sufficient revenues to pay for all incurred project costs and sufficient surplus revenues to pay for some or all eligible costs of the recipient TID  Donor district may remain open through its maximum life even if it has repaid all of its project costs  Donor districts maximum life cannot be extended solely for purposes of diverting increment to a recipient district  Recipient district must have been created upon a finding that not less than 50% of its area is blighted or in need of rehabilitation, or  Recipient district must have project cost for the creation or rehabilitation of low- cost housing, or  Recipient district must have project costs for environmental remediation Joint Review Board There were a number of technical changes made, the key ones, effective October 1, 2004, being noted as:  Allows both Temporary and Standing JRBs (Standing JRB can be disbanded by city at anytime.)  Requires JRB to make positive assertion that the development would not occur without TIF (“but for” test---the development could not happen, “but for”)  Eliminates requirement for JRB to wait 10 days before acting on a resolution creating a TID (30 day rule still applies.)  Requires JRB to notify special districts that have taxing authority of meetings (e.g. inland lake protection district) Annexed Territory There are some new laws regarding annexation. The old law did not cover this.  Prohibits inclusion within a TID lands annexed after January 1, 2004, unless one of the following applies (1) The city enters into a cooperative plan boundary agreement (s.66.0307 or other agreement relating to the annexation with the town, or (2) Three years have elapsed since the annexation, or (3) The city agrees to pay the town for a period of five years the property taxes levied by the town on the annexed land at the time of annexation (TIF eligible expense) Cash Grants  Prohibits cash grants as eligible project costs without a developer agreement  Agreement must be signed by grant recipient  Copy must be provided to JRB unless it has been disbanded  Effective October 1, 2004 Public Hearing  Waiting period reduced from 30 days to 14 days for Council to act on resolution creating TID  No waiting period for project plan amendments and boundary amendments no change) Joint Committee of the Whole/Community Development Authority Meeting Page 5 April 29, 2004  Public hearing notice must include language advising if cash grants to land owners, lessees or developers are included as part of the project plan Fees  Effective March 5, 2004, the Department of Revenue began charging a fee of $1,000 for certification of (a) the base value of any new TID, (b) re-certification of base value resulting from an amendment that adds or subtracts property from a TID  Fee does not apply to a project plan amendment that does not involve addition or subtraction of territory Miscellaneous Changes Mr. Taves pointed out one of the significant changes to the law  Allows Department of Revenue (DOR) to determine “substantial compliance” with TIF procedural requirements; the interpretations likely to be done on a case-by-case basis with the intent to reduce special legislation Mr. Taves concluded his presentation at 7:33 p.m. Commissioner Link inquired what bureaucracy would be involved with taking an amendment to the Joint Review Board? Mr. Taves explained that the Joint Review Board has five members—one from the city, one from the county, one from the technical college, one from the local school district, and one citizen member, usually from the city, selected by the JRB. In essence, the city could then have two members on the JRB. The process for an amendment is the same as creating a district, going through the same steps, putting a project plan amendment together, goes to the Plan Commission, CDA, JRB, Common Council, and then back to the JRB for final approval. Ald. Salentine inquired if they could amend the TID before October 1, 2004 and not be penalized? Mr. Taves stated that if they are looking at a project plan amendment, they can do as many of those at any time they want, but would have to go through the JRB process. The dates of July 1 and October 1 would not be a factor. There have been no changes in the laws that affect the project plan or scope of the project. If it was a boundary amendment, then there would be considerations and the dates would matter. CDA Chairman Waltz thanked Mr. Taves for his time and his presentation. ADJOURNMENT There being no further business, Mayor Mark Slocomb moved for adjournment. CDA Commissioner Link seconded. Upon a voice vote, the motion carried. The meeting adjourned at 7:38 p.m. Stella Dunahee, CPS Recording Secretary