The Vanguard
Jefferson Davis is a longtime resident of Menomonee Falls. He is the proud parent of two wonderful boys. He enjoys singing, volunteering, reading, gardening, politics, antiques, history, guitar, violin, piano, officiating, helping neighbors and yard work. He served as Village President of Menomonee Falls from 2003-05. He is a member of Northbrook Church and serves on the Advisory Council for the Salvation Army Rehabilitation Center. He is an independent registered representative practicing in the areas of insurance, investments and retirement.
Bass Pro Shop Project's "Lure" Puts Taxpayers on the "Hook" for $20.3 Million Through 2019
The attached press release was received by me from the Davis for Trustee Campaign.
Jefferson E. Davis is running for Village Board Trustee Seat 4.
The election is April 6th.
Permission has been granted to me to post this press release on the Vanguard blog.
If these numbers are true, what in the world is the Menomonee Falls School District thinking by looking a gift horse in the mouth for $11 million through 2019? Especially if the school district is looking at published budget deficits of nearly $9 million through 2015?
Of course the taxpayers will have to make up the difference.
This makes no sense whatsoever.
Please contact your School Board (http://www.sdmf.k12.wi.us/) and Village Board (http://www.menomonee-falls.org/) to rescind these votes.
And you guys who make the hateful comments that you do on this blog, would one of you please speak to this issue instead of using your Saul Alinsky tactics of hate and destruction to criticize a man who is trying to get the truth out to the rest of us to save us on our property tax bills?
Of course there has been little or no coverage of this devastating development in the newspapers.
Brass Pro Shop Project's "Lure" Puts Taxpayers on the "Hook" for $20.3 Million Through 2019
Menomonee Falls - Village Trustee Seat 4 Candidate Jefferson E. Davis announced today his opposition to the $40 million + TID 8 Project that has become known as the Bass Pro Shop Project.
The Village Trustee Election in Menomonee Falls is April 6th.
Davis' opponent, a 20-year incumbent, has voted to ask the taxpayers of Menomonee Falls to subsidize TID 8 because the district will not be able to pay for itself.
TID's (Tax Incremental Districts) are an agreement between a businessman and the Village Board to develop an area with taxpayer's money (bonds) that normally would not be developed if it were not for the help of the taxpayer's for the businessman.
Once the TID's debt service is paid off, usually within 15-20 years, the new tax revenue is then divided amongst the school district, Village, Waukesha County and WCTC.
"In a mostly uncovered story with little or no debate for Menomonee Falls taxpayers, The Joint Review Board, consisting of Village Manager Mark Fitzgerald, longtime Menomonee Falls resident Lew Tietz, Norm Cummings, Waukesha County, Cary Tessman, WCTC and Menomonee Falls School District representative Jeff Gross, voted 3-2 to approve TID District 4 becoming a donor district to TID District 8 recently.
Cummings and Tessman wisely voted "no".
I agree with Norm Cummings and Cary Tessman because they feel the taxpayers of Menomonee Falls, WCTC and Waukesha County are going to be shortchanged with TID 4 becoming a donor district to TID 8.
The development plan also lacks detail and specificity as to whether or not the Village actually has anyone committed to coming to TID 8 in Menomnee Falls.
We can not have a, "If you build it they will come mentality."
That was tried for TID 5 since 1999 across the the street from the landfill on Main Street and it is still 50% empty with tax revenues woefully short of making the annual $1.4 million debt service payments.
Approving a TID District to become a donor district simply means that the tax revenue from the existing district will be donated to a new TID District because the new district won't generate enough tax revenue to make debt service payments over 15-20 years.
TID 4 District will have its debt service paid off in 2010 with a surplus of about $2 million and would normally be closed because the debt service is paid off with the surplus monies being distributed 55% to the school district, 28% to the Village, 10% to the county and 7% to WCTC.
TID 4 was created in 1996 at the corner of Good Hope Road and Appleton Avenue.
TID 8 is the area on the west side of the freeway along Hwy 41/45 between Pilgrim Road and Steinhafel's.
According to Village Hall documents and published reports (http://www.jsonline.com/news/waukesha/64057547.html), making TID 4 a donor district to TID 8 will cost taxpayers $20.3 million through 2019 because TID 4 will be kept open 10 more years and all of the tax revenue will be given to TID 8 because TID 8 won't be able to pay for itself.
When the nearly $2 million surplus is added to the $18.3 projected tax increment from TID 4 over the next 10 years and given to TID 8 because it won't be able to support itself, someone is going to have to make up that difference.
The Village Hall documents put a cap on TID 8 expenditures at $36.3 million not including interest or finance costs.
The school district has published projected deficits of almost $9 million through 2015.
Why would the school district look a gift horse in the mouth for $11 million from TID 4 only to give it away to TID 8 while staring these types of deficits in the mirror for the next 5 years?
If Bass Pro Shop does come to Menomonee Falls, it is likely the Bass Pro Shop facility will take up the entire TID 8 area.
Bass Pro Shops had 2 stores in 1995 and through an aggressive and highly taxpayer subsidized marketing program has expanded to about 60 stores today.
Bass Pro Shops has 16,000 employees and grosses about $3.4 billion a year in sales with a one year growth rate of 28.3% (http://www.answers.com/topic/bass-pro-shops-inc).
A review of tax records from Boone County Missouri, (www.showmeboone.com), shows that the Bass Pro Shops store there pays about $77,500 in annual property taxes for its store that is assessed at $3.8 million.
This store would be very similar to the one being considered for Menomonee Falls.
If the Menomonee Falls store would be assessed at $3.8 million with a tax rate of approximately $21/$1,000 assessed value, the store would generate about $79,800 a year in property taxes.
The annual debt service payments for TID 8 will be about $2.4 million a year.
This annual shortfall of $2.32 million will have to be made up by the taxpayers.
It is estimated by Norm Cummings on the Joint Review Board that every homeowner in Menomonee Falls will be assessed a minimum of $500 in new taxes to make up for this shortfall.
There is no doubt that TID 8 needs to be cleaned up and developed, but at what cost and in a residential area that includes St. Mary's Catholic Church and School a block or two away.
I would rather see Bass Pro Shops have some skin in the game along with the current owners to clean up this mess instead of putting it all on the back of the taxpayers of Menomonee Falls.
I also believe we should look to the EPA's Super Fund (http://www.epa.gov/superfund/) and the State of Wisconsin's Super Fund (http://www.dnr.state.wi.us/org/aw/rr/cleanup/superfund.htm) for assistance to use these resources that are designed to help communities facing clean up issues such as these.
Taxpayers should exercise their free will to shop where they want and not be forced to pay for a retail company to locate in Menomonee Falls that doesn't have any skin in the game."
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