New TID 7 created to capture Aldi development; board hears preliminary plans and constraints

The Joint Review Board received an update on the newly created Tax Incremental District 7, which was established to capture development increment on the city’s north side. Judy Radke said the district was created before the Aldi development so the city can capture that growth; staff emphasized Aldi did not request any development grant and the city is retaining 100 percent of that increment for future projects. Chad Hertz said a primary anticipated use of TID 7 funds is the eventual construction of Hanchy Drive to provide access to eastern parcels, and that the city is stockpiling base material reclaimed from the Oshkosh Street reconstruction to use on future road work. Hertz also described a proposed private project south of Sleepy Creek Pet Lodge — a facility the speaker referred to as the "Labrador Lodge" for dog-breeding or boarding operations — but said a wetland delineation shows substantial wetlands on three parcels, which may limit developable area and the viability of that proposal. Staff reported that because no increment had yet been received, there was no formal approval of an annual report for TID 7 this year; internal accounting showed an initial negative balance of $14,257. Board members heard the update and were told the district’s finances and activity will be included in next year’s annual Joint Review Board report.