A proposal to establish a Tax Incremental District Development Agreement with Timberwood Meadows LLC to develop a 1,514-unit housing development on the former Gartman Farm property between Moenning and Stahl Roads was recommended by a 3-2 vote in a special meeting held Monday by the Finance and Personnel Committee. While most Sheboyganites paid attention to recovery from the Blizzard, the Committee met at 5:30 PM Monday with the TID the only item on the agenda.
Alders Mitchell and Perella had proposed a resolution issuing a taxable tax increment project municipal revenue Obligation to establish the project, however Alder Perella joined Alder Michael Close in voting “Nay” during Monday meeting. The project as proposed would be constructed in five phases, the first beginning May 1 2026, and commencing with Phase 5 on January 1, 2042. Total developer improvements would add up to a guaranteed value of $370 million.
The Committee is next set to meet on March 23, with a meeting of the Sheboygan Plan Commission the next step, but the date from that review has yet to be scheduled.
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