Commissions recommend adoption of TID #5 development agreement with Neillsville Development LLC

On July 10 the Neillsville Planning Commission and Economic Development Commission recommended that the City Council adopt and execute the Tax Incremental Financing District (TID) #5 Development Agreement between the City of Neillsville and Neillsville Development, LLC, as presented and modified to include exact legal parcel descriptions.

City Administrator Luke Friemoth and commissioner Natalie Erpenbach led the joint discussion; Dale Lawson of Neillsville Development LLC was present to answer questions. Commissioners reviewed the agreement's defined development property, the incentives the city would provide to the project owner, an estimate of construction by unit type and year, an estimate of the tax increment the project is expected to create, and the street and utility construction that may be completed once certain tax increment thresholds are attained. The agreement also addresses the relationship between the LLC and the property land contract holder.

Commissioners asked clarifying questions and agreed the agreement should be updated to include exact legal descriptions for each parcel in addition to parcel numbers. Greg Gliszinski moved to recommend adoption of the agreement as presented and modified; John Gaier seconded the motion. A voice vote was recorded as "all Aye," and the motion carried. The transcript notes that Gaier left the meeting at 5:24 p.m.

The commissions' recommendation will be forwarded to the City Council for its consideration; the transcript records no final City Council action at this meeting.