Redevelopment Authority---November 2007

Evansville Redevelopment Authority
Board of Commissioners

Regular Meeting
Tuesday, November 20, 2007, 7:30 pm
City Hall, 31 S. Madison Street, Evansville, Wisconsin

MINUTES

I. Call to Order. The meeting was called to order at 7:30 pm by Tom Calley. Present: Betsy Ahner, Tony Wyse, John Decker, Barb Jacobson, and Tom Calley. Absent: Chris Eager and Roger Roth. Also present: Executive Director Dan Wietecha and Mayor Sandy Decker.

II. Declare Quorum. There being a majority of the commissioners present at call to order, a quorum was declared.

III. Approve Agenda. Decker made a motion, seconded by Wyse, to approve the agenda. Motion carried unanimously.

IV. Approve Minutes of October 16, 2007 Meeting. Ahner made a motion, seconded by Jacobson, to approve the minutes. Motion carried unanimously.

V. Old Business.

a. Allen Creek Master Plan. Wietecha noted that the final plan had been approved by the Common Council on November 13. He also clarified that the plan is not an amendment to the Smart Growth Plan, so it should be consider guidelines for development rather than requirements. John Decker noted that in the future the City may want to consider adopting some of the recommendations, such as keeping traffic routed along Union Street, as requirements.

VI. New Business.

a. TID #5 Procedures. Wietecha distributed copies of the existing TID #5 loan policy. He said the standard program was set to be a low-interest loan for the lesser of either 20% of the current property value or 20% of the project costs. The policy also indicates that on the merits of an individual project the Authority may deviate from the standard program, including awarding funds above the threshold. He distributed a list of criteria previously discussed but not formally approved by the Authority indicating the types of projects that may justify deviating from the standard TIF program. As indicated in the criteria and previous projects, the Authority may consider promotion of historic restoration reason to consider exceeding the standard program.

b. 16 West Main Street. The building was constructed in the 1880s and was damaged by a fire this past year. John Decker relayed information he had been given by Cheryl Fuchs and Chris Eager who are purchasing the building. They intend to historically restore the building with office or retail space on the first floor and one apartment upstairs. The extent of the historical restoration will depend on the availability and amount of TIF assistance that may be available. The Authority indicated that the historic restoration was favorable but an application for assistance, including construction budget and pro forma, would be required to discuss the proposal in detail.

VII. Other Business. None.

VIII. Adjournment. Calley moved, seconded by Jacobson, to adjourn the meeting. Motion approved unanimously at 8:30 pm.