MSA PROFESSIONAL SERVICES
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1 MSA PROFESSIONAL SERVICES ENVIRONMENTAL TID OPENS DOORS TO REDEVELOPMENT Town of Springfield, WI Presented By: Andrew Bremer, AICP, Community Planner, Joe DeYoung, PE, and Jim Wills, SRBDC Oct. 26, 2015 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
2 PROJECT LOCATION MAP Town of Springfield Population 2,743 MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
3 GREAT LOCATION DRIVES PROJECT MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
4 HISTORY OF SITE» 1957 to 1973 Former Town Landfill» Bong Excavating» 2012 Purchased by Schneider Road Business Centre, Inc. (SRBDC) MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
5 LANDFILL SITE TRANSFORMS TO BUSINESS PARK MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
6 LANDFILL SITE TRANSFORMS TO BUSINESS PARK MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
7 HOW WE TRANSFORMED THE SITE» Project Timeline» Previous Zoning» Change in Zoning MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
8 Project Challenges» Wetlands & Stormwater» Archeological» Landfill History» Wisconsin DNR MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
9 Grants & Financing: Critical Components» Conventional Financing» Brownfield Grants» WEDC Grants» Environmental Tax Increment District MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
10 LAND CONDOMINIUMS MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
11 ECONOMIC IMPACT MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
12 FIVE STORAGE UNIT STRUCTURES MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
13 NEW OFFICE BUILDING-ENCORE CONSTRUCTION MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
14 What is TIF?» TIF = Tax Increment Financing» TID = Tax Increment District» First authorized 1975 under Wis. Stat , Towns authorization added in 2004 and 2014» Financial Tool used to promote /increase tax base Using future tax dollars to pay for development efforts today MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
15 What is TIF?» Benefits include: Increased employment Improved business climate Improved public infrastructure Elimination of unsafe or unsightly buildings and areas Promotion of affordable housing Spurs overall economic growth» Approximately 75% of all Villages and Cities in Wisconsin have at least one active TID MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
16 Towns with TIF Districts» Town of Weyauwega (Waupaca County), 2005» Town of Elba (Dodge County), 2010» Town of Matteson (Waupaca County), 2004» Town of New Chester (Adams County), 2012» Town of Florence (Florence County), 2013» Town of Madison (Dane County), 2006» Town of Windsor (Dane County), 2014» Town of Springfield (Dane County), 2014» Town of Brookfield (Waukesha County), 2014 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
17 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
18 TID Types (maximum life)» Industrial (20 years)» Mixed-Use (20 years)» Blighted (27 years)» Rehabilitation / Conservation (27 years)» Environmental Remediation (23 years)» Town Tourism, Agriculture & Forestry (TAF) under Wis. Stats. Sec (16 years)» Town Regular under Wis. Stats. Sec (20 or 27 years)» TID type is based on the majority of the type of land in the TID and the anticipated projects MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
19 Environmental Remediation TID s» Maximum life 23 years» Expenditure period 15 years» No extensions allowed» No territory amendments allowed» Requires WDNR certification of a site investigation report and WDNR remedial action plan approval letter» Requires a letter signed by chief executive officer indicating an attempt was made to recover costs from responsible party MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
20 Tourism, Agriculture & Forestry TID s» Maximum life 16 years» Expenditure period 5 years» No extensions allowed» One territory amendment allowed in first 5 years» 75% of the area in the TID used for projects aimed at Agricultural, Forestry, Manufacturing or Tourism» Limited to 5 to 7% of the total equalized value of the Town MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
21 Tourism, Agriculture & Forestry TID s» Agricultural Project: 111 Crop production, 112 Animal production, Support activities for agriculture, 1152 Support activities for animal production, Farm product warehousing, storage and refrigeration» Forestry Project: 113 Forestry and logging, 1153 Support activities for forestry» Manufacturing Project: 3116 Animal slaughtering and processing, 321 Wood product manufacturing, 322 Paper manufacturing, Ethyl alcohol manufacturing» Tourism Project: Recreational and vacation camps, Recreational vehicle parks and campgrounds, Racetracks, Dairy product stores, Public golf courses MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
22 Town TIDS under Wis. Stat » Allows same types of TIDs as Villages and Cities» Three criteria must be meet: Equalized Value of the Town $500,000,000 Population must be 3,500 Sewer service is or will be provided before use or operation of any improvements» Limited to 12% of the total equalized value of the Town MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
23 TIF Process» Outlined in Wisconsin Stats » Joint Review Board (JRB) Representation Local Government Citizen / at-large School District County Technical College MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
24 Town of Springfield Environmental TID» 2 parcels, acres» Base Value of Properties = $404,800» Value Growth of Properties from New Development = $9,048,420 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
25 Town of Springfield Environmental TID» Project Expenditures = $1,417,546 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
26 Town of Springfield Environmental TID» Projected Tax Increment = $3,747,642 ( )» Stabilized Annual Tax Increment = $172,000» Stabilized Annual Costs = $72,000» Annual Taxes Collected Pre-Development = $7,500» Annual Taxes Collected Post-Development = $179,500» TID Closure anticipated in year 2024 MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
27 DEVELOPMENT AGREEMENT» Required under State Statute» SRBC guarantees site clean up, new development construction, and tax increment payments» Town reimburses SRBC for project expenditures up to $800,000 based on actual costs incurred» Town named party to Voluntary Party Liability Exemption MSA PROFESSIONAL SERVICES, INC. More ideas. Better Solutions.
28 How Can You Transform Your Blighted Site?» Check Out Available Funding Sources» Explore Benefits of Tax Increment Financing» Consider Public/Private Partnerships» Be Persistent and You ll Succeed! MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
29 Questions? MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
30 Project Contacts» Andrew Bremer, AICP Joe DeYoung, PE Jim Wills (800) MSA PROFESSIONAL SERVICES, INC. More ideas. Better solutions.
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