October 4, 2017 Project Plan for the Creation of Tax Incremental District No. 5 Organizational Joint Review Board Meeting Held: Scheduled for October 18, 2017 Public Hearing Held: Scheduled for October 18, 2017 Approval by Community Development Authority: To be Considered October 18, 2017 Adoption by Village Board: To be Considered November 13, 2017 Approval by the Joint Review Board: TBD Tax Incremental District No. 5 Creation Project Plan Village of Mount Pleasant Officials Village Board Dave DeGroot Village President Gary Feest Village Trustee Jon Hansen Village Trustee Sonny Havn Village Trustee John Hewitt Village Trustee Ken Otwaska Village Trustee Village Staff Timothy Zarzecki Interim Village Administrator Claude Lois Project Director Samuel Schultz Community Development Director Stephanie Kohlhagen Village Clerk – Treasurer Community Development Authority Rob Richardson, Chair Gary Feest Michael Langendorf, Vice-Chair Frank Risler Matthew Cramer Jack Thorsen Dave DeGroot Joint Review Board Dave DeGroot Village Representative Alexandra Tillmann Racine County Bill Whyte Gateway Technical College District David Hazen Racine Unified School District John Schneider Public Member Table of Contents EXECUTIVE SUMMARY ........................................................................................................................................... 4  TYPE AND GENERAL DESCRIPTION OF DISTRICT ........................................................................................ 7  PRELIMINARY MAP OF PROPOSED DISTRICT BOUNDARY ........................................................................ 8  MAP SHOWING EXISTING USES AND CONDITIONS .................................................................................... 10  PRELIMINARY PARCEL LIST AND ANALYSIS ................................................................................................. 12  EQUALIZED VALUE TEST ..................................................................................................................................... 20  STATEMENT OF KIND, NUMBER AND LOCATION OF PROPOSED PUBLIC WORKS AND OTHER PROJECTS ................................................................................................................................................................ 20  MAP SHOWING PROPOSED IMPROVEMENTS AND USES ......................................................................... 25  DETAILED LIST OF PROJECT COSTS .............................................................................................................. 28  ECONOMIC FEASIBILITY STUDY, FINANCING METHODS, AND THE TIME WHEN COSTS OR MONETARY OBLIGATIONS RELATED ARE TO BE INCURRED .................................................................. 29  PROPOSED ZONING ORDINANCE CHANGES ................................................................................................ 35  PROPOSED CHANGES IN MASTER PLAN, MAP, BUILDING CODES AND VILLAGE OF MOUNT PLEASANT ORDINANCES .................................................................................................................................... 35  RELOCATION ........................................................................................................................................................... 35  ORDERLY DEVELOPMENT OF THE VILLAGE OF MOUNT PLEASANT ..................................................... 36  LIST OF ESTIMATED NON-PROJECT COSTS ................................................................................................. 36  OPINION OF ATTORNEY FOR THE VILLAGE OF MOUNT PLEASANT ADVISING WHETHER THE PLAN IS COMPLETE AND COMPLIES WITH WISCONSIN STATUTES SECTION 66.1105 ................... 37  CALCULATION OF THE SHARE OF PROJECTED TAX INCREMENTS ESTIMATED TO BE PAID BY THE OWNERS OF PROPERTY IN THE OVERLYING TAXING JURISDICTIONS ...................................... 39  SECTION 1: Executive Summary Description of the District Tax Incremental District (“TID”) No. 5 (“District”) is a proposed 3,921-acre industrial TID that will be created to pay the costs of public infrastructure, land acquisition and other expenses needed to facilitate the construction and operation of approximately 20 million sq. ft. of manufacturing space for production of liquid crystal display panels (“Project”). The developer, Foxconn (“Developer”), will construct the facility which is expected to result in up to a $10 billion private investment over a six-year development timeframe and result in creation of up to 13,000 jobs with an estimated average salary of $53,875. Of the total 3,921 acres to be included within the District, the Project facility is expected to occupy approximately 1,198 acres and produce a guaranteed incremental valuation of $1,400,000,000. Further development of the approximately 2,723 acres remaining by the Developer, supply chain vendors and other businesses will create additional incremental valuation which is expected, but not quantified, within this Project Plan (“Plan”). Special Provisions Applicable to the District 2017 Wisconsin Act 58 (“Act”) provides the Wisconsin Economic Development Corporation with the authority to designate an Electronics and Information Technology Manufacturing Zone (“EITMZ”). The District will be located within an EITMZ. In addition to the tax increment financing powers which the Village may exercise under Wis. Stat. § 66.1105, the following special provisions of the Act apply to industrial or mixed use TIDs created within an EITMZ: 1. A maximum life of thirty years. 2. Project costs may be incurred through the un-extended termination date of the TID. 3. Project costs may be incurred for any territory located within the same county as the TID if the expenditure benefits the TID as determined by the Wisconsin Department of Administration. 4. Project costs may include the cost of constructing or expanding fire stations, purchasing police and fire equipment, and the cost of general government operating expenses related to providing police and fire protection services, subject to the following limitations: a. Total costs may not exceed 15% of the positive tax increments collected over the life of the TID. b. Capital expenditures may be made only for the first seven years following TID creation. c. Expenditures made for constructing or expanding fire stations are limited to fire stations located within a one-mile radius of the EITMZ. 5. Project costs may include payments to a county or other municipality that issues obligations to finance TID project costs. 6. The TID may not be designated as a donor TID. 7. If the resolution creating the TID is adopted prior to December 1, the TID’s effective date for purposes of establishing base value may be either January 1 of the current year or January 1 of the subsequent year at the option of the creating municipality. The Village will create the District with an effective base value date of January 1, 2018. 8. For purposes of calculating compliance with the 12% limit applicable when TIDs are created or when territory is added, the incremental value of a TID within an EITMZ will not be counted. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 4 Village of Mount Pleasant October 4, 2017 Estimated Total Project Cost Expenditures The Village anticipates making total expenditures of approximately $758 million to undertake the projects listed in this Project Plan. (“Project Costs”). Project Costs include the cost of acquiring land within the District, provision of necessary public infrastructure and public services, and other costs related to the creation, implementation and administration of the District. Project Costs will be funded through a combination of debt financing, Developer contributions and cash outlay of tax incremental revenue. The Village and Racine County will work collaboratively to obtain required debt financing as further described in this Plan. Project Costs may be incurred throughout the 30-year maximum term of the District, except that capital expenditures for constructing or expanding fire stations and purchasing police and fire equipment may only be made during the first seven years of the District’s life. Incremental Valuation The development agreement for the Project will require establishment and maintenance of a minimum Project incremental value of $1.4 billion to be achieved not later than January 1, 2022. If in any subsequent year, the incremental value of the Project is less than $1.4 billion, related guarantees will require that the Developer make annual payments to the Village to make whole any revenue that would have been collected had the minimum incremental value been maintained. An incremental valuation of $1.4 billion is sufficient to recover all District Project Costs based on the economic feasibility study model included in the Plan. Since land within the District that may be acquired by the Village would become tax-exempt for the period between its acquisition and sale or conveyance to a private entity, the valuation forecast included within this Plan assumes a short-term loss in value. The Plan assumes that a sufficient amount of the acquired land (approximately 65 acres) would be sold or transferred prior to January 1, 2022 to negate this decremental value. Additional transfers or sale of land will increase the incremental value of the District, but are not assumed for purposes of the projections. To be conservative, the projections also do not include any potential improvements valuation on the remaining 2,723 acres that is likely to occur over time because of expansion by the Developer, and location of supply chain vendors and other businesses within the District. Expected Termination of District Based on the Economic Feasibility Study included within this Plan, this District is projected to generate sufficient tax increments to recover all project costs within 25 years. This projection is based on $1.4 billion of incremental value guaranteed by the Developer in the Project development agreement. Additional valuation resulting from Developer expansions, location of supply chain vendors within the District and economic appreciation will provide for the potential to accelerate District termination. Summary of Findings As required by Wisconsin Statutes Section 66.1105, and as documented in this Project Plan and the exhibits contained and referenced herein, the following findings are made: 1. That “but for” the creation of this District, the development projected to occur as detailed in this Project Plan:1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the Village. In reaching this determination the Village has considered that making the areas included within the District suitable for development of the Project will require a substantial investment to pay for the costs of: property, right-of-way and easement acquisition, installation of utilities; installation of streets; development incentive payments for purposes of land reimbursement and other costs; operating costs; professional, legal and financing costs and expenses; and other costs. Due to the extensive initial investment needed to allow the Project to occur, the Village has determined that development of the area as proposed will not occur _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 5 Village of Mount Pleasant October 4, 2017 solely from private investment. Accordingly, the Village finds that absent the use of tax increment financing, the Project as proposed would not proceed. 2. The economic benefits of the Tax Incremental District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the Project Costs incurred. In making this determination, the Village has considered the following information:  A report prepared by Ernst and Young and provided to the Wisconsin Economic Development Corporation which projects anticipated economic benefits to be realized within the Village, Racine County, and State of Wisconsin as follows: o An estimated $10 billion of capital investment to construct and equip the Project facility, including more than $5 billion for onsite Racine County construction supporting more than 10,000 construction and related jobs in the region over the four-year construction period. o Employment of up to 13,000 workers once the Project is fully operational, with an average wage of $53,875. o Additional effects include indirect effects of the Developer purchasing from local suppliers and induced effects of employee households spending locally for goods and services from retailers, restaurants and service companies. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions.  As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in Appendix A of this plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District. Accordingly, the Village finds that the benefits expected to be realized as set forth above outweigh the value of the tax increments to be invested in the Project. 4. Not less than 50% by area of the real property within the District is suitable for industrial sites and zoned for industrial use within the meaning of Wis. Stat. § 66.1101. Any real property within the District that is found suitable for industrial sites and is zoned for industrial use at the time of the creation of the District will remain zoned for industrial use for the life of the District. 5. Based upon the findings, as stated above, the District is declared to be an industrial District based on the identification and classification of the property included within the District. 6. The Project Costs relate directly to promoting industrial development in the District consistent with the purpose for which the District is created. 7. The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District. 8. The Project Plan for the District in the Village is feasible, and is in conformity with the Master Plan of the Village. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 6 Village of Mount Pleasant October 4, 2017 SECTION 2: Type and General Description of District The District is being created by the Village under the authority provided by Wis. Stat. § 66.1105 and will be designated as an “Industrial District” based on a finding that at least 50%, by area, of the real property within the District is zoned and suitable for industrial sites within the meaning of Wis. Stat. § 66.1101. Prior to Village Board adoption of the resolution creating the District, all 3,921 acres within the District will be rezoned to Business Park; an industrial zoning classification within the Village’s Zoning Code. The District is being created within an EITMZ. In addition to the tax increment financing powers which the Village may exercise under Wis. Stat. § 66.1105, the following special provisions, found in Wis. Stat. 66.1105(20), apply to industrial or mixed use TIDs created within an EITMZ: 1. A maximum life of thirty years. 2. Project costs may be incurred through the un-extended termination date of the TID. 3. Project costs may be incurred for any territory located within the same county as the TID if the expenditure benefits the TID as determined by the Wisconsin Department of Administration. 4. Project costs may include the cost of constructing or expanding fire stations, purchasing police and fire equipment, and the cost of general government operating expenses related to providing police and fire protection services, subject to the following limitations: a. Total costs may not exceed 15% of the positive tax increments collected over the life of the TID. b. Capital expenditures may be made only for the first seven years following TID creation. c. Expenditures made for constructing or expanding fire stations are limited to fire stations located within a one-mile radius of the EITMZ. 5. Project costs may include payments to a county or other municipality that issues obligations to finance TID project costs. 6. The TID may not be designated as a donor TID. 7. If the resolution creating the TID is adopted prior to December 1, the TID’s effective date for purposes of establishing base value may be either January 1 of the current year or January 1 of the subsequent year at the option of the creating municipality. The Village will create the District with an effective base value date of January 1, 2018. 8. For purposes of calculating compliance with the 12% limit applicable when TIDs are created or when territory is added, the incremental value of a TID within an EITMZ will not be counted. The Project Costs included in this Plan relate directly to promoting industrial development in the District consistent with the purpose for which the District is created. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 7 Village of Mount Pleasant October 4, 2017 SECTION 3: Preliminary Map of Proposed District Boundary Map Located on Following Page1 1 Any wetlands identified on a map prepared under Wis. Stat. § 23.32 are excluded from the District and not considered to be included within its boundaries. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 8 Village of Mount Pleasant October 4, 2017 _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 9 Village of Mount Pleasant October 4, 2017 SECTION 4: Map Showing Existing Uses and Conditions Map Located on Following Page _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 10 Village of Mount Pleasant October 4, 2017 _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 11 Village of Mount Pleasant October 4, 2017 SECTION 5: Preliminary Parcel List and Analysis Preliminary Parcel List Begins on Next Page _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 12 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # AREA I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Parcel Number 151‐03‐22‐31‐006‐000 151‐03‐22‐31‐005‐001 151‐03‐22‐31‐005‐000 151‐03‐22‐31‐004‐000 151‐03‐22‐31‐003‐000 151‐03‐22‐31‐003‐010 151‐03‐22‐31‐003‐020 151‐03‐22‐31‐001‐000 151‐03‐22‐31‐001‐010 151‐03‐22‐31‐001‐002 151‐03‐22‐31‐002‐000 151‐03‐22‐32‐010‐000 151‐03‐22‐32‐009‐000 151‐03‐22‐32‐008‐002 151‐03‐22‐32‐007‐000 151‐03‐22‐32‐008‐000 151‐03‐22‐32‐006‐000 151‐03‐22‐32‐008‐001 151‐03‐22‐32‐004‐000 151‐03‐22‐32‐004‐001 151‐03‐22‐32‐001‐020 151‐03‐22‐32‐003‐000 151‐03‐22‐32‐001‐010 151‐03‐22‐32‐001‐030 151‐03‐22‐32‐002‐000 151‐03‐22‐31‐006‐010 151‐03‐22‐31‐009‐000 151‐03‐22‐31‐007‐000 151‐03‐22‐31‐008‐000 151‐03‐22‐31‐010‐000 151‐03‐22‐31‐010‐001 151‐03‐22‐31‐013‐000 151‐03‐22‐31‐011‐000 151‐03‐22‐31‐012‐000 151‐03‐22‐31‐011‐020 Project Plan TID No. 5 Creation Prepared by Ehlers Street Address 4529 SE Frontage Rd 13201 Braun Rd 13027 Braun Rd 12825 Braun Rd Braun Road Braun Road 12715 Braun Rd 12135 Braun Road 12235 Braun Rd 12305 Braun Road 12135 Braun Road 12135 Braun Road 12121 Braun Road Braun Road 11635 Braun Rd 11621 Braun Rd 1106 Braun Rd Braun Road Braun Road 11111 Braun Road 4222 Highway H 4204 County Hwy H 4222 S Highway H County Highway H 4217 County Highway H 4529 Hwy 41 Hwy 41 4707 Hwy 41 Hwy 41 County Line Rd 13430 County Line Rd 13320 County Line Rd County Highway KR 13104 County Line Rd 12910 County Line Rd Owner University Of Lawsonomy Todd D Pohjola Brouwers Theodore M Wasiak Karen L. Anderson, Lori Anderson, Steven J Anderson Laura A Jahnke, John Thomas Anderson Maria Cervantes Buiss/Buisse/Ramos/Edgerly Jay R Eckholm Sherri L Shaver Buiss/Buisse/Ramos/Edgerly Buiss/Buisse/Ramos/Edgerly Buiss/Buisse/Ramos/Edgerly Bower Family Trust Bower Family Trust Nicholas A Hilbert Juan F Garcia LeRoy S Bower Trust Thomas W. Fliess Thomas W. Fliess Thomas & Barabara Riedel Jospeph M Janicek Kurt R Kluender, Carrie A Harmann, Nancy B Harman Kurt R Kluender, Carrie A Harmann, Nancy B Harman Thomas W. Fliess Leonard Investments Llc Super Mix Salvage Erickson Truck Sales Salvage Erickson Truck Sales Paul R Safransky George Safransky Todd M Blodgett Rossi Investments, LLC Donald John Merlock Richard  Richards Acreage 18.67 1.15 37.58 5.00 59.44 5.00 10.00 32.37 1.83 2.00 43.00 0.50 79.50 16.92 1.08 1.15 1.00 20.00 39.71 80.29 24.07 1.06 9.10 5.97 63.00 19.79 7.77 7.89 5.42 45.93 1.00 1.23 142.31 1.76 5.77 Page 13 Land 8,600 57,600 50,800 92,300 16,900 63,400 71,100 6,900 63,700 65,300 13,400 28,100 59,900 3,700 57,000 57,600 56,300 4,400 8,500 51,400 5,300 56,800 2,000 101,000 13,500 293,200 2,000 237,200 182,700 45,400 56,300 58,300 31,000 63,100 99,200 Imp 0 222,100 152,300 52,900 98,700 0 98,900 0 295,400 125,200 200 97,500 79,900 0 83,200 80,700 139,600 0 0 53,200 0 97,700 0 88,500 0 0 0 174,400 0 0 175,600 92,700 0 81,300 77,500 Total 8,600 279,700 203,100 145,200 115,600 63,400 170,000 6,900 359,100 190,500 13,600 125,600 139,800 3,700 140,200 138,300 195,900 4,400 8,500 104,600 5,300 154,500 2,000 189,500 13,500 293,200 2,000 411,600 182,700 45,400 231,900 151,000 31,000 144,400 176,700 Equalized  Value Ratio2 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% Land 8,890 59,541 52,512 95,410 17,470 65,536 73,496 7,133 65,847 67,501 13,852 29,047 61,919 3,825 58,921 59,541 58,197 4,548 8,786 53,132 5,479 58,714 2,067 104,404 13,955 303,080 2,067 245,193 188,857 46,930 58,197 60,265 32,045 65,226 102,543 Imp 0 229,584 157,432 54,683 102,026 0 102,233 0 305,355 129,419 207 100,786 82,593 0 86,004 83,419 144,304 0 0 54,993 0 100,992 0 91,482 0 0 0 180,277 0 0 181,517 95,824 0 84,040 80,112 Total 8,890 289,125 209,944 150,093 119,496 65,536 175,729 7,133 371,201 196,920 14,058 129,833 144,511 3,825 144,925 142,961 202,502 4,548 8,786 108,125 5,479 159,706 2,067 195,886 13,955 303,080 2,067 425,470 188,857 46,930 239,715 156,088 32,045 149,266 182,655 Industrial  (Zoned and  Suitable) 18.67 1.15 37.58 5.00 59.44 5.00 10.00 32.37 1.83 2.00 43.00 0.50 79.50 16.92 1.08 1.15 1.00 20.00 39.71 80.29 24.07 1.06 9.10 5.97 63.00 19.79 7.77 7.89 5.42 45.93 1.00 1.23 142.31 1.76 5.77 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 AREA II 61 62 63 64 65 66 67 68 69 70 Parcel Number Street Address Owner 151‐03‐22‐31‐015‐000 151‐03‐22‐31‐014‐010 151‐03‐22‐31‐014‐020 151‐03‐22‐32‐011‐010 151‐03‐22‐32‐011‐030 151‐03‐22‐32‐011‐020 151‐03‐22‐32‐012‐010 151‐03‐22‐32‐012‐000 151‐03‐22‐32‐012‐002 151‐03‐22‐32‐013‐000 151‐03‐22‐32‐014‐000 151‐03‐22‐32‐016‐000 151‐03‐22‐32‐027‐000 151‐03‐22‐32‐020‐000 151‐03‐22‐32‐015‐200 151‐03‐22‐32‐015‐100 151‐03‐22‐32‐015‐300 151‐03‐22‐32‐026‐000 151‐03‐22‐32‐015‐010 151‐03‐22‐32‐024‐000 151‐03‐22‐32‐019‐010 151‐03‐22‐32‐023‐000 151‐03‐22‐32‐025‐000 151‐03‐22‐32‐019‐000 151‐03‐22‐32‐021‐000 Subtotal Area I 12646 County Line Road County Line Road 12406 County Line Rd County Line Road 1234 County Line Rd County Line Road County Line Road 11604 County Line Rd 11514 County Line Rd County Line Road 11110 County Line Rd 10635 S Prairie View Drive 5100 Prairie View Dr County Highway H 5107 W Prairie View Dr 5110 E Prairie View Dr 10640 Prairie View Dr 5138 E Prairie View Dr 5103 E Prairie View Dr 5115 E Prairie View Dr 5201 E Prairie View Dr 5132 County Hwy H 5142 County Hwy H 5206 County Hwy H 5220 County Hwy H Wendell L Perkins & Mark T O'Meara Borzynski Brothers Properties Todd A Kremis Borzynski Brothers Properties Emulan Inc Borzynski Bros Borzynski Brothers Properties Roger A Sturycz Will B Winchester Anselm J Harrison Trust Barbara L Slivon Daniel R DeJonge, Kelly A DeJonge David J Botsch Brock E Paul Adam J Hall Matthew A Palmer James S Mahoney Howard P Luxner Timothy S Preiss David Novak Klinkhammer Trust Robert I Wasniewski Jr Thomas N Orendorff Steven L Petts John A Wiley 151‐03‐22‐30‐020‐000 151‐03‐22‐30‐019‐001 151‐03‐22‐30‐019‐000 151‐03‐22‐30‐021‐004 151‐03‐22‐30‐021‐005 151‐03‐22‐30‐021‐002 151‐03‐22‐30‐021‐000 151‐03‐22‐30‐021‐001 151‐03‐22‐30‐001‐000 151‐03‐22‐29‐008‐000 13417 Durand Ave 13211 Durand Ave 13105 Durand Ave Hwy 41 Hwy 41 Hwy 41 3301 Hwy 41 3825 Hwy 41 Durand Ave 12141 Durand Ave Walter T Harmann Jay D Wildfong 13105 Durand Avenue LLC 13105 Durand Avenue LLC William A Schultz Ann L Schultz Rodney A Jensen Petersen Family Trust Creuziger Farms, Inc. Peter F Falk Project Plan TID No. 5 Creation Prepared by Ehlers Acreage Land Imp Total Equalized  Value Ratio2 Land Imp Total Industrial  (Zoned and  Suitable) 46.83 75.57 5.38 54.30 4.04 1.34 91.21 1.37 3.30 82.02 2.98 15.21 2.30 3.06 1.16 1.38 1.12 0.87 1.52 1.06 1.01 1.08 0.64 0.52 0.72 1,198.25 77,400 16,200 106,300 69,800 83,600 59,300 19,800 59,600 77,000 17,800 74,100 66,000 75,500 700 64,100 66,300 63,700 54,400 67,700 63,100 62,600 57,000 36,000 29,300 40,500 3,491,700 209,600 0 93,300 15,700 15,300 9,300 0 49,000 82,900 0 82,800 407,200 185,800 0 243,000 228,900 91,800 150,100 264,300 142,300 248,400 207,600 116,700 145,500 120,600 5,477,600 287,000 16,200 199,600 85,500 98,900 68,600 19,800 108,600 159,900 17,800 156,900 473,200 261,300 700 307,100 295,200 155,500 204,500 332,000 205,400 311,000 264,600 152,700 174,800 161,100 8,969,300 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 80,008 16,746 109,882 72,152 86,417 61,298 20,467 61,608 79,595 18,400 76,597 68,224 78,044 724 66,260 68,534 65,847 56,233 69,981 65,226 64,710 58,921 37,213 30,287 41,865 3,609,365 216,663 0 96,444 16,229 15,816 9,613 0 50,651 85,694 0 85,590 420,922 192,061 0 251,189 236,614 94,894 155,158 273,207 147,095 256,771 214,596 120,633 150,403 124,664 5,662,187 296,671 16,746 206,326 88,381 102,233 70,912 20,467 112,260 165,288 18,400 162,187 489,146 270,105 724 317,449 305,148 160,740 211,391 343,188 212,322 321,480 273,517 157,846 180,691 166,529 9,271,553 46.83 75.57 5.38 54.30 4.04 1.34 91.21 1.37 3.30 82.02 2.98 15.21 2.30 3.06 1.16 1.38 1.12 0.87 1.52 1.06 1.01 1.08 0.64 0.52 0.72 8.47 2.57 9.22 9.42 10.71 11.76 2.92 26.36 148.39 0.47 50,300 66,500 42,200 11,200 2,300 2,500 74,200 7,500 31,800 25,000 70,200 64,600 118,400 0 0 0 120,300 11,900 0 93,100 120,500 131,100 160,600 11,200 2,300 2,500 194,500 19,400 31,800 118,100 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 51,995 68,741 43,622 11,577 2,378 2,584 76,700 7,753 32,872 25,842 72,566 66,777 122,390 0 0 0 124,354 12,301 0 96,237 124,561 135,518 166,012 11,577 2,378 2,584 201,054 20,054 32,872 122,080 8.47 2.57 9.22 9.42 10.71 11.76 2.92 26.36 148.39 0.47 Page 14 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 Parcel Number 151‐03‐22‐29‐007‐000 151‐03‐22‐29‐009‐000 151‐03‐22‐26‐005‐000 151‐03‐22‐29‐006‐000 151‐03‐22‐29‐001‐000 151‐03‐22‐30‐031‐000 151‐03‐22‐30‐030‐000 151‐03‐22‐30‐027‐000 151‐03‐22‐30‐025‐000 151‐03‐22‐30‐029‐000 151‐03‐22‐30‐028‐000 151‐03‐22‐30‐031‐002 151‐03‐22‐30‐024‐000 151‐03‐22‐30‐023‐000 151‐03‐22‐30‐002‐000 151‐03‐22‐30‐003‐000 151‐03‐22‐30‐032‐000 151‐03‐22‐29‐012‐000 151‐03‐22‐29‐010‐040 151‐03‐22‐29‐010‐010 151‐03‐22‐29‐010‐020 151‐03‐22‐29‐010‐030 151‐03‐22‐29‐015‐000 151‐03‐22‐29‐013‐000 151‐03‐22‐29‐015‐001 151‐03‐22‐29‐014‐000 151‐03‐22‐29‐011‐000 151‐03‐22‐29‐017‐000 151‐03‐22‐29‐016‐000 151‐03‐22‐29‐018‐000 151‐03‐22‐29‐018‐010 Subtotal Area II AREA III 102 151‐03‐22‐33‐014‐000 103 151‐03‐22‐33‐013‐000 104 151‐03‐22‐33‐007‐000 105 151‐03‐22‐33‐008‐000 106 151‐03‐22‐33‐009‐000 Project Plan TID No. 5 Creation Prepared by Ehlers Street Address Owner Acreage Land Imp Total Equalized  Value Ratio2 Land Imp Total Industrial  (Zoned and  Suitable) 12127 Durand Ave 11823 Durand Ave 3216 S Green Bay Rd Durand Ave 11003 Durand Avenue Hwy 41 Hwy 41 3825 Hwy 41 Hwy 41 Hwy 41 Braun Road Braun Road 13144 Braun Rd 3301 Hwy 41 Braun Road 12706 Braun Rd Braun Road 8418 Durand Ave Braun Road 12006 Braun Rd Wheaton Ln 4016 Wheaton Ln 4001 Wheaton Ln 4041 Wheaton Ln 11838 Braun Rd 11838 Braun Rd 11820 Braun Rd 11800 Braun Rd 11508 Braun Rd Braun Road 11016 Braun Road Mary Anne Falk Creuziger Farms, Inc. Laura W Allard John Younk John H. Fonk Mary Lynn Pulda Spring North Corp Petersen Family Trust Marion J Kaye John Schultz Slavko M Grcic Slavko M Grcic Jack R Petersen Leroy R Petersen Creuziger Farms, Inc. George N Creuziger Creuziger Farms, Inc. Creuziger Farms, Inc. Thomas W. Fliess Jr. Rudolph R Baker Shawn Mayer Shawn Mayer Randy S Burrow Peuschold Trust Ronald J Hoegsted Ronald J Hoegsted Forrest Bauer Bower Trust Linda Lamparek Thomas & Cherie Fliess Travis S Spencer 0.94 74.33 0.46 1.54 152.50 9.01 20.41 3.58 13.88 15.37 8.18 5.00 29.89 29.89 79.47 1.15 80.00 40.00 22.00 1.98 5.26 2.76 2.32 1.48 1.22 0.89 0.63 0.51 79.47 78.63 1.65 994.69 49,900 64,700 45,600 26,500 89,400 1,900 4,400 53,600 5,000 3,300 1,800 1,100 49,000 6,400 17,000 57,600 17,100 8,600 4,700 39,200 1,100 86,200 75,700 67,300 64,700 50,100 35,400 28,700 59,700 19,900 69,000 1,418,100 74,800 271,000 99,700 0 114,600 0 0 102,700 0 0 0 0 148,300 0 0 139,800 0 0 0 141,000 0 334,500 140,600 164,700 0 127,800 124,700 125,600 106,900 0 203,100 2,898,300 124,700 335,700 145,300 26,500 204,000 1,900 4,400 156,300 5,000 3,300 1,800 1,100 197,300 6,400 17,000 197,400 17,100 8,600 4,700 180,200 1,100 420,700 216,300 232,000 64,700 177,900 160,100 154,300 166,600 19,900 272,100 4,316,400 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 51,582 66,880 47,137 27,393 92,413 1,964 4,548 55,406 5,168 3,411 1,861 1,137 50,651 6,616 17,573 59,541 17,676 8,890 4,858 40,521 1,137 89,105 78,251 69,568 66,880 51,788 36,593 29,667 61,712 20,571 71,325 1,465,888 77,321 280,132 103,060 0 118,462 0 0 106,161 0 0 0 0 153,297 0 0 144,511 0 0 0 145,751 0 345,772 145,338 170,250 0 132,107 128,902 129,833 110,502 0 209,944 2,995,969 128,902 347,013 150,196 27,393 210,875 1,964 4,548 161,567 5,168 3,411 1,861 1,137 203,949 6,616 17,573 204,052 17,676 8,890 4,858 186,272 1,137 434,877 223,589 239,818 66,880 183,895 165,495 159,500 172,214 20,571 281,269 4,461,857 0.94 74.33 0.46 1.54 152.50 9.01 20.41 3.58 13.88 15.37 8.18 5.00 29.89 29.89 79.47 1.15 80.00 40.00 22.00 1.98 5.26 2.76 2.32 1.48 1.22 0.89 0.63 0.51 79.47 78.63 1.65 4217 County Highway H 4217 County Highway H 9725 Braun Rd 9705 Braun Rd 9437 Braun Rd Thomas W. Fliess Thomas W. Fliess Michael Allen Mueller Dennis Crain Klingenmeyer 73.83 73.94 5.00 0.47 1.10 64,300 15,800 102,500 29,400 63,500 40,700 0 196,000 111,400 141,300 105,000 15,800 298,500 140,800 204,800 96.74% 96.74% 96.74% 96.74% 96.74% 66,467 16,332 105,954 30,391 65,640 42,072 0 202,605 115,154 146,062 108,538 16,332 308,559 145,545 211,701 73.83 73.94 5.00 0.47 1.10 Page 15 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # Parcel Number 107 151‐03‐22‐33‐010‐001 108 151‐03‐22‐33‐010‐000 109 151‐03‐22‐33‐006‐000 110 151‐03‐22‐33‐001‐000 111 151‐03‐22‐33‐001‐010 112 151‐03‐22‐33‐003‐000 113 151‐03‐22‐33‐002‐000 114 151‐03‐22‐33‐001‐020 115 151‐03‐22‐32‐018‐000 116 151‐03‐22‐33‐017‐000 117 151‐03‐22‐33‐016‐010 118 151‐03‐22‐33‐016‐000 119 151‐03‐22‐33‐018‐000 120 151‐03‐22‐33‐011‐000 121 151‐03‐22‐33‐012‐000 122 151‐03‐22‐33‐019‐000 123 151‐03‐22‐33‐004‐000 124 151‐03‐22‐33‐005‐000 125 151‐03‐22‐33‐005‐001 126 151‐03‐22‐33‐020‐000 127 151‐03‐22‐33‐021‐000 128 151‐03‐22‐33‐024‐000 129 151‐03‐22‐33‐022‐000 130 151‐03‐22‐33‐023‐000 Subtotal Area III North Area 131 03‐22‐19‐008‐000 132 03‐22‐19‐002‐000 133 03‐22‐19‐006‐005 134 03‐22‐19‐006‐001 135 03‐22‐19‐006‐010 136 03‐22‐19‐001‐000 137 03‐22‐19‐006‐015 138 03‐22‐19‐003‐000 139 03‐22‐19‐005‐000 140 03‐22‐19‐006‐000 Project Plan TID No. 5 Creation Prepared by Ehlers Street Address Owner Acreage Land Imp Total Equalized  Value Ratio2 Land Imp Total Industrial  (Zoned and  Suitable) 9407 Braun Rd 9505 Braun Rd 4217 County Highway H 4436 90th Street 4330 90th St 4408 90th St 4424 90th St 4444 90th St County Hwy h County Hwy H County Line Road 10514 County Line Rd 9924 County Line Road County Line Road 9710 County Line Road 9300 County Line Rd 4930 90th St 4912 90th St 90th St 5138 90th St 5230 90th St 9144 County Line Rd 9108 County Line Rd 90th St Joseph Dretzka Klingenmeyer Thomas W. Fliess Thomas W. Fliess & Cherie Fliess John A Usa Alfredo J Ortiz Ryan M Irish Tom & Cherie Fliess Rosina Neumayer Rosina Neumayer Borzynski Brothers Properties Michael R Schmidt Henry Bouwma and Rosemary Bouwma, Clara J Cspe Bonnie S. Sorenson Bonnie S. Sorenson Daniel P Braun Daniel P Braun Braun Trust Daniel P Braun Daniel P Braun John F King Elmer S Sauder Robert M Avila Ned E Lashley 1.28 0.77 47.77 49.50 2.22 1.89 4.47 1.82 0.70 37.84 60.00 2.91 43.72 72.03 1.46 51.82 57.38 0.63 2.00 14.80 3.20 3.10 3.30 3.50 622.45 65,300 48,100 11,100 53,700 67,200 64,300 87,500 63,600 200 8,200 13,100 81,600 57,500 15,300 52,100 73,200 39,400 29,900 400 46,800 76,100 83,500 85,500 600 1,399,700 67,000 87,700 0 271,200 127,300 128,700 102,300 201,600 0 0 0 110,200 70,500 1,800 50,600 71,500 120,000 154,000 0 111,100 147,400 106,200 108,000 0 2,526,500 132,300 135,800 11,100 324,900 194,500 193,000 189,800 265,200 200 8,200 13,100 191,800 128,000 17,100 102,700 144,700 159,400 183,900 400 157,900 223,500 189,700 193,500 600 3,926,200 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 67,501 49,721 11,474 55,510 69,465 66,467 90,449 65,743 207 8,476 13,541 84,350 59,438 15,816 53,856 75,667 40,728 30,908 413 48,377 78,664 86,314 88,381 620 1,446,868 69,258 90,655 0 280,339 131,590 133,037 105,747 208,394 0 0 0 113,914 72,876 1,861 52,305 73,909 124,044 159,190 0 114,844 152,367 109,779 111,639 0 2,611,639 136,758 140,376 11,474 335,849 201,054 199,504 196,196 274,137 207 8,476 13,541 198,263 132,313 17,676 106,161 149,576 164,772 190,097 413 163,221 231,032 196,093 200,021 620 4,058,507 1.28 0.77 47.77 49.50 2.22 1.89 4.47 1.82 0.70 37.84 60.00 2.91 43.72 72.03 1.46 51.82 57.38 0.63 2.00 14.80 3.20 3.10 3.30 3.50 13316 Louis Sorenson Rd 12804 Louis Sorenson Rd Louis Sorenson Rd Louis Sorenson Rd 12800 Louis Sorenson Rd 12620 Louis Sorenson Rd Louis Sorenson Rd 12600 Louis Sorenson Rd 12240 Louis Sorenson Rd 12232 Louis Sorenson Rd Thomas A. Hribar Sr. Revocable Trust Dated January 9 Zenner Trust Dave P & Gloria A Audrey L Schaefer Family, LLC Mt Pleasant Village of Randall L. Borgardt Nora A. Shaughnessy Nora Shaughnessy Julia E. Linstroth Russell E. Buck Steven J. Kirk 104.25 53.00 68.58 2.70 5.86 0.96 0.12 0.82 3.06 2.82 189,300 58,600 14,700 0 48,500 60,000 400 51,300 83,100 80,700 211,500 74,700 0 0 243,600 83,400 0 117,700 147,500 111,000 400,800 133,300 14,700 0 292,100 143,400 400 169,000 230,600 191,700 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 195,679 60,575 15,195 0 50,134 62,022 413 53,029 85,900 83,419 218,627 77,217 0 0 251,809 86,210 0 121,666 152,471 114,741 414,306 137,792 15,195 0 301,943 148,232 413 174,695 238,371 198,160 104.25 53.00 68.58 2.70 5.86 0.96 0.12 0.82 3.06 2.82 Page 16 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 Parcel Number 03‐22‐19‐004‐000 03‐22‐20‐022‐001 03‐22‐20‐022‐000 03‐22‐20‐013‐000 03‐22‐20‐019‐000 03‐22‐20‐021‐000 03‐22‐20‐007‐000 03‐22‐19‐013‐210 03‐22‐19‐014‐300 03‐22‐19‐013‐100 03‐22‐19‐013‐200 03‐22‐19‐018‐000 03‐22‐19‐015‐000 03‐22‐19‐016‐000 03‐22‐19‐017‐000 03‐22‐19‐023‐000 03‐22‐19‐007‐000 03‐22‐19‐025‐000 03‐22‐20‐023‐000 03‐22‐20‐024‐000 03‐22‐20‐016‐000 03‐22‐20‐015‐000 03‐22‐20‐021‐010 03‐22‐20‐014‐000 03‐22‐20‐012‐000 03‐22‐20‐010‐000 03‐22‐20‐011‐000 03‐22‐20‐009‐000 03‐22‐20‐017‐000 03‐22‐20‐020‐000 03‐22‐20‐018‐000 03‐22‐20‐008‐000 03‐22‐20‐006‐010 03‐22‐20‐006‐000 03‐22‐20‐001‐000 Project Plan TID No. 5 Creation Prepared by Ehlers Street Address 12224 Louis Sorenson Rd 12123 Louis Sorenson Rd 12012 Louis Sorenson Rd 12000 Louis Sorenson Rd 11230 Louis Sorenson Rd 11148 Louis Sorenson Rd Louis Sorenson Rd E Frontage Rd 2615 S Hwy 41 2635 E Frontage Rd 13223 Louis Sorenson Rd 13231 Louis Sorenson Rd 12845 Louis Sorenson Rd 12827 Louis Sorenson Rd 12721 Louis Sorenson Rd 12123 Louis Sorenson Rd Louis Sorenson Rd 12123 Louis Sorenson Rd 12123 Louis Sorenson Rd Louis Sorenson Rd Louis Sorenson Rd 11505 Louis Sorenson Rd 11445 Louis Sorenson Rd 11317 Louis Sorenson Rd 11311 Louis Sorenson Rd 11245 Louis Sorenson Rd 11237 Louis Sorenson Rd 11225 Louis Sorenson Rd 11219 Louis Sorenson Rd 11207 Louis Sorenson Rd 12123 Louis Sorenson Rd Louis Sorenson Rd 10909 Louis Sorenson Rd West Rd Owner Gerold W. Jacobs Zenner Trust David P & Gloria A Tina L. Miller David P. Schacht Marc V. Kennedy Shannon L Chadwell Revocable Trust Salvador Coronado Thomas S. Hall Barbara Rinke Floyd A. Leonard Funk Farms Inc Robert E Robert E. Mears Trustee Nancy J Rothering Living Trust Louis Sorenson Road LLC Ronald C. Smith Mary Jo Becker Peter Zenner Family Farm LLC Peter Zenner Family Farm LLC Peter Zenner Family Farm LLC Zenner Trust Shirley A Daniel C. Schmidt Barbara L. Schmidt Zenner Trust Dan P & Julie M Marilyn M & Harry H Kitzmann Jr Rev Liv Trust Dated  Herzog Living Trust James P & Brenda G Gregory D. Stollenwerk Scott G. Calvino Marily Rossman Virginia E. Hazlett, Trustee Under the Virginia E. Hazl John C. Hewitt Stollenwerk Revocable Trust Gene & Wife Zenner Trust David P & Gloria A Stollenwerk Trust Gene F & Sharon L Michael Borzynski Farms LLC Ruth Guenther Pinekenstein Acreage 3.32 26.35 10.17 20.00 24.25 10.00 10.00 12.81 1.39 7.19 9.95 29.56 28.64 0.69 1.03 33.30 39.00 44.00 17.14 0.86 0.95 0.95 4.01 2.01 1.37 1.62 0.96 0.90 1.06 2.76 1.88 32.89 45.84 22.74 18.52 Page 17 Land 85,700 5,600 49,500 141,700 52,500 129,000 12,500 2,700 59,800 112,000 2,100 57,300 6,100 43,100 62,800 54,400 8,300 9,400 16,500 53,800 200 200 53,600 72,600 66,200 68,700 60,000 56,300 63,100 80,100 71,300 7,000 9,800 52,200 4,000 Imp 126,400 0 182,500 137,600 335,400 261,000 2,700 0 123,800 99,900 0 91,900 0 119,100 122,000 44,300 0 0 44,400 88,500 0 0 171,600 107,400 109,500 196,000 158,400 115,500 140,600 128,600 164,700 0 0 133,700 0 Total 212,100 5,600 232,000 279,300 387,900 390,000 15,200 2,700 183,600 211,900 2,100 149,200 6,100 162,200 184,800 98,700 8,300 9,400 60,900 142,300 200 200 225,200 180,000 175,700 264,700 218,400 171,800 203,700 208,700 236,000 7,000 9,800 185,900 4,000 Equalized  Value Ratio2 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% Land 88,588 5,789 51,168 146,475 54,269 133,347 12,921 2,791 61,815 115,774 2,171 59,231 6,306 44,552 64,916 56,233 8,580 9,717 17,056 55,613 207 207 55,406 75,047 68,431 71,015 62,022 58,197 65,226 82,799 73,703 7,236 10,130 53,959 4,135 Imp 130,659 0 188,650 142,237 346,703 269,795 2,791 0 127,972 103,266 0 94,997 0 123,114 126,111 45,793 0 0 45,896 91,482 0 0 177,383 111,019 113,190 202,605 163,738 119,392 145,338 132,934 170,250 0 0 138,205 0 Total 219,247 5,789 239,818 288,712 400,972 403,142 15,712 2,791 189,787 219,041 2,171 154,228 6,306 167,666 191,027 102,026 8,580 9,717 62,952 147,095 207 207 232,789 186,066 181,621 273,620 225,760 177,589 210,564 215,733 243,953 7,236 10,130 192,165 4,135 Industrial  (Zoned and  Suitable) 3.32 26.35 10.17 20.00 24.25 10.00 10.00 12.81 1.39 7.19 9.95 29.56 28.64 0.69 1.03 33.30 39.00 44.00 17.14 0.86 0.95 0.95 4.01 2.01 1.37 1.62 0.96 0.90 1.06 2.76 1.88 32.89 45.84 22.74 18.52 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 Parcel Number 03‐22‐20‐003‐000 03‐22‐20‐002‐000 03‐22‐20‐004‐000 03‐22‐20‐005‐000 03‐22‐20‐040‐000 03‐22‐20‐042‐000 03‐22‐20‐041‐000 03‐22‐20‐026‐001 03‐22‐20‐025‐000 03‐22‐19‐014‐000 03‐22‐19‐014‐110 03‐22‐19‐014‐100 03‐22‐19‐019‐000 03‐22‐19‐022‐000 03‐22‐19‐021‐000 03‐22‐19‐020‐000 03‐22‐19‐024‐000 03‐22‐30‐006‐000 03‐22‐30‐016‐000 03‐22‐30‐018‐000 03‐22‐30‐005‐000 03‐22‐30‐004‐000 03‐22‐30‐017‐000 03‐22‐30‐012‐000 03‐22‐30‐013‐000 03‐22‐30‐015‐000 03‐22‐30‐014‐000 03‐22‐30‐008‐000 03‐22‐30‐010‐000 03‐22‐30‐011‐000 03‐22‐30‐009‐000 03‐22‐30‐007‐000 03‐22‐30‐001‐000 03‐22‐20‐043‐000 03‐22‐20‐030‐000 Project Plan TID No. 5 Creation Prepared by Ehlers Street Address 10523 Louis Sorenson Rd 1806 West Rd West Rd 2036 West Rd 2102 West Rd West Rd 2236 West Rd 2412 West Rd 12123 Louis Sorenson Rd 2825 SE Frontage Rd Old Hwy 11 Old Hwy 11 Old Hwy 11 12123 Louis Sorenson Rd 13042 Old Hwy 11 Old Hwy 11 12508 Old Hwy 11 13625 Old Hwy 11 13501 Old Hwy 11 Old Hwy 11 13621 Old Hwy 11 13425 Old Hwy 11 13315 Old Hwy 11 13245 Old Hwy 11 13237 Old Hwy 11 13231 Old Hwy 11 13215 Old Hwy 11 13205 Old Hwy 11 13145 Old Hwy 11 13145 Old Hwy 11 13101 Old Hwy 11 13023 Old Hwy 11 Durand Ave West Rd 11326 Durand Ave Owner William L. Rickman Danny Moore Jr Michael Borzynski Farms LLC Richard Ball Milan Gajic Joseph E. Borzynski Harvey S & Virginia L Deyong Joint Rev Trust David I. Borzynski Peter Zenner Family Farm LLC Abandoned LLC Abandoned LLC Bruce W & Vicki L Funk Trust Dated August 20, 2015 Bruce W & Vicki L Funk Trust Dated August 20, 2015 Peter Zenner Family Farm LLC John A. Holmes John A. Holmes Kyle Creuziger Charles R. Engel Kenosha‐Racine Fs Coop R&R Innovative Investments Inc R&R Innovative Investments Inc Robert L. Treptow Jr Richard E. Zimmerman Christopher A. Sturm Jr Matthew T. Bowen Paul A. Gelmi Jr Glen C. Van Swol Steven S. Jost Michael L. Hazlett Michael L. Hazlett Harold W. Cousins Richard J. Debaere CREUZIGER FARMS INC C Rr Rita & Leman Pendley Acreage 0.76 0.76 9.87 9.87 19.54 7.57 2.90 10.00 153.72 4.57 8.10 20.82 40.00 13.50 5.00 5.00 33.74 1.55 5.60 0.21 0.86 1.29 2.22 1.00 1.09 1.07 1.03 1.75 0.97 0.90 1.16 2.00 8.38 7.50 0.99 Page 18 Land 47,500 42,800 2,100 44,700 46,800 26,700 73,400 77,500 32,900 104,200 1,700 4,500 8,600 2,900 60,000 22,500 71,800 34,000 1,200 9,500 56,200 58,900 67,200 56,300 57,100 56,900 56,500 63,000 54,600 8,400 57,700 65,300 0 0 53,100 Imp 111,500 223,300 0 135,500 78,600 0 151,000 69,700 0 296,000 0 0 0 0 51,900 0 90,000 42,600 0 0 32,000 110,600 176,100 99,700 90,900 124,200 106,700 181,900 114,900 0 178,400 78,900 0 0 114,700 Total 159,000 266,100 2,100 180,200 125,400 26,700 224,400 147,200 32,900 400,200 1,700 4,500 8,600 2,900 111,900 22,500 161,800 76,600 1,200 9,500 88,200 169,500 243,300 156,000 148,000 181,100 163,200 244,900 169,500 8,400 236,100 144,200 0 0 167,800 Equalized  Value Ratio2 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% Land 49,101 44,242 2,171 46,206 48,377 27,600 75,873 80,112 34,009 107,711 1,757 4,652 8,890 2,998 62,022 23,258 74,220 35,146 1,240 9,820 58,094 60,885 69,465 58,197 59,024 58,817 58,404 65,123 56,440 8,683 59,644 67,501 0 0 54,889 Imp 115,257 230,825 0 140,066 81,249 0 156,088 72,049 0 305,975 0 0 0 0 53,649 0 93,033 44,036 0 0 33,078 114,327 182,034 103,060 93,963 128,385 110,296 188,030 118,772 0 184,412 81,559 0 0 118,565 Total 164,358 275,067 2,171 186,272 129,626 27,600 231,962 152,160 34,009 413,686 1,757 4,652 8,890 2,998 115,671 23,258 167,252 79,181 1,240 9,820 91,172 175,212 251,499 161,257 152,987 187,203 168,700 253,153 175,212 8,683 244,056 149,059 0 0 173,455 Industrial  (Zoned and  Suitable) 0.76 0.76 9.87 9.87 19.54 7.57 2.90 10.00 153.72 4.57 8.10 20.82 40.00 13.50 5.00 5.00 33.74 1.55 5.60 0.21 0.86 1.29 2.22 1.00 1.09 1.07 1.03 1.75 0.97 0.90 1.16 2.00 8.38 7.50 0.99 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Base Property Information Map  Ref. # 211 212 213 214 215 216 217 Parcel Number 03‐22‐20‐031‐000 03‐22‐20‐032‐000 03‐22‐20‐034‐000 03‐22‐20‐035‐000 03‐22‐20‐038‐000 03‐22‐20‐036‐000 03‐22‐20‐033‐000 Subtotal Northern Area Street Address 11310 Durand Ave 11226 Durand Ave 11000 Durand Ave 10842 Durand Ave 10830 Durand Ave 10812 Durand Ave 10800 Durand Ave Owner Acreage Land Imp Total Paul Smaglick Larry & Carol Newmiller Deborah P Bauer Revocable Trust dated June 30, 201 Lloyd Dejong II Harold M Rose Jr Raymond & Loraine Berggren Kelli Rossmann 1.00 1.00 4.35 1.59 0.32 1.04 1.06 1,105.93 53,100 53,100 81,600 58,100 16,500 51,000 52,600 4,009,200 114,600 76,300 100,500 89,000 53,400 96,600 113,600 7,498,000 167,700 129,400 182,100 147,100 69,900 147,600 166,200 11,507,200 Total Acreage 3,921.32 10,318,700 18,400,400 28,719,100 Equalized  Value Ratio2 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% 96.74% Land Imp Total 54,889 54,889 84,350 60,058 17,056 52,719 54,373 4,144,304 118,462 78,871 103,887 91,999 55,200 99,855 117,428 7,750,672 173,351 133,761 188,237 152,057 72,256 152,574 171,801 11,894,976 10,666,425 19,020,467 29,686,893 Estimated Base Value 29,686,893 Industrial  (Zoned and  Suitable) 1.00 1.00 4.35 1.59 0.32 1.04 1.06 3921.32 100.00% NOTES: Assessed vaulations as of January 1, 2017. 2 Ratio shown is for January 1, 2016 as published by the Wisconsin Dept. of Revenue. Ratio for January 1, 2017 not available. 1 Project Plan TID No. 5 Creation Prepared by Ehlers Page 19 Village of Mount Pleasant October 4, 2017 SECTION 6: Equalized Value Test Wis. Stat. § 66.1105(20)(b) as created by the Act exempts the District from the requirements of the 12% percent equalized value limit at the time of District creation. Additionally, the District’s incremental value will not be considered in calculation of compliance with the limit should the Village create additional districts, or amend districts to add territory. As of January 1, 2017, existing Village TID’s had incremental value of $109,667,300 or 4.06% of Village total equalized value. SECTION 7: Statement of Kind, Number and Location of Proposed Public Works and Other Projects Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges. If Project Costs incurred benefit territory outside the District, a proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning, design and construction is completed. With all projects, the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, environmental studies, permits, updating Village ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The following is a list of public works and other tax incremental financing eligible projects that the Village expects to make, or may need to make, in conjunction with the implementation of the District’s Plan. The map found in Section 8 of this Plan along with the Detailed List of Project Costs found in Section 9 provide additional information as to the kind, number and location of potential Project Costs. Property, Right-of-Way and Easement Acquisition Property Acquisition for Development To facilitate development of the Project, the Village will acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the categories detailed in this Section may be incurred to make the property suitable for development. Any revenue received by the Village from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total Project Costs of the District. If total Project Costs incurred by the Village to acquire property and make it suitable for development exceed the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered “real property assembly costs” as defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 20 Village of Mount Pleasant October 4, 2017 Acquisition of Rights-of-Way The Village will need to acquire property to allow for installation of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the Village to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements The Village will need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the Village to identify, negotiate and acquire easement rights are eligible Project Costs. Relocation Costs The Village will pay relocation costs in conjunction with the acquisition of property. These expenses are eligible Project Costs and may include, but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wisconsin Statutes Sections 32.19 and 32.195. Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the Village related to environmental audits, testing, and remediation are eligible Project Costs. Demolition To make sites suitable for development the Village may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The Village may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the Village for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements There are inadequate sanitary sewer facilities serving the District. To allow development to occur, the Village will need to construct, alter, rebuild or expand sanitary sewer infrastructure within and outside of the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 21 Village of Mount Pleasant October 4, 2017 Water System Improvements There are inadequate water distribution facilities serving the District. To allow development to occur, the Village will need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Stormwater Management System Improvements To manage stormwater runoff, the Village will need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices (BMP’s). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the Village will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the Village construct, alter, rebuild or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Electric Service To create sites suitable for development the Village may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the Village to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development the Village may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the Village to undertake this work are eligible Project Costs. Communications Infrastructure To create sites suitable for development the Village may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the Village to undertake this work are eligible Project Costs. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 22 Village of Mount Pleasant October 4, 2017 Streets and Streetscape Street Improvements There are inadequate street improvements serving areas of the District. To allow development to occur, the Village may need to construct or reconstruct streets, highways, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping To attract development consistent with the objectives of this Plan, the Village may install amenities to enhance development sites, rights-of-way and other public spaces. These amenities include, but are not limited to: landscaping; lighting of streets, sidewalks, parking areas and public areas; installation of planters, benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any other similar amenities installed by the Village are eligible Project Costs. Community Development Authority Activities (CDA) Contribution to CDA As provided for in Wisconsin Statues Sections 66.1105(2)(f)1.h and 66.1333(13), the Village may provide funds to its CDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the CDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program To encourage private redevelopment consistent with the objectives of this Plan, the Village, through its CDA, may provide loans and/or grants to eligible property owners in the District. Loan and/or grant recipients will be required to sign an agreement specifying the nature of the property improvements to be made. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies, or as otherwise specified by the CDA in the program manual. Any funds returned to the CDA from the repayment of loans made are not considered revenues to the District, and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving loan fund and will continue to be used for the program purposes stated above. Any funds provided to the CDA for purposes of implementing this program are considered eligible Project Costs. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 23 Village of Mount Pleasant October 4, 2017 Miscellaneous Rail Spur To allow for development, the Village may incur costs for installation of a rail spur to serve development sites located within the District. Cash Grants (Development Incentives) The Village may enter into agreements with property owners, lessees, or developers of land located within the District for the purpose of sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover project costs. No cash grants will be provided until the Village executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the Village are eligible Project Costs. Project Costs Outside the Tax Incremental District Wis. Stat. § 66.1105(20)(c) as created by the Act permits the District to pay the cost of any Project Cost incurred within Racine County provided that the expenditures benefits the District as determined by the Wisconsin Department of Administration. Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional services include, but are not limited to: architectural; environmental; planning; engineering; legal, audit; financial; and the costs of informing the public with respect to the creation of the District and the implementation of the Plan. Administrative Costs The Village may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the time spent by Village employees in connection with the implementation of the Plan. Public Safety Operating and Capital Costs Wis. Stat. § 66.1105(20)(c) as created by the Act permits the District to pay the costs of providing police and fire protection to the Project provided that such costs not exceed 15% of the total tax increments collected over the life of the District. Related capital costs may only be incurred within the first 84 months of the District’s life, and any expenditures made for construction or expansion of a fire station are limited to fire stations located within ½ mile of the District. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 24 Village of Mount Pleasant October 4, 2017 SECTION 8: Map Showing Proposed Improvements and Uses Maps Located on Following Page _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 25 Village of Mount Pleasant October 4, 2017 _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 26 Village of Mount Pleasant October 4, 2017 _______________________________________________________________________________________________________________________________________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 27 Village of Mount Pleasant October 4, 2017 SECTION 9: Detailed List of Project Costs The following list identifies the Project Costs that the Village currently expects to incur in implementing the District’s Plan. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. Since the Village expects additional development to occur within the District beyond what is forecasted in this Plan, it may need to incur additional Project Costs to enable that development. (Section 7 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Detailed List of Project Costs Village Sources of Funds Developer Cash Contribution Debt Proceeds1 Interest Earnings2 Land Sale Proceeds3 Paid from Current Tax Increment Collections4 Total Sources of Funds Uses of Funds Land Acquisition & Relocation Costs Water Infrastructure Sanitary Sewer Infrastructure Road Improvements Other Costs Operating Costs (Including Related Capital) & Prof. Services Contingency Finance Related Expenses5 Interest on Debt Interest on Mortgage Development Incentives Total Uses of Funds County 160,210,400 287,504 117,760,000 128,818 310,546,516 52,131,600 471,044,420 170,020,418 62,900 62,000,000 43,364,800 11,500,000 4,724,370 116,311,342 24,317,834 2,269,625 106,493,549 50,000,000 26,374,650 28,000,000 Joint Public  Partnership  (County/  Village) Developer 60,000,000 60,000,000 335,970,400 416,322 4,713,333 4,713,333 362,678,116 58,000,000 64,713,333 763,778,171 58,000,000 60,000,000 168,062,900 88,374,650 71,364,800 11,500,000 4,724,370 116,311,342 28,121,564 4,105,625 166,499,587 4,713,333 100,000,000 58,000,000 3,803,730 1,836,000 60,006,038 4,713,333 100,000,000 471,044,420 170,020,418 Total 58,000,000 Plus Debt Principal Issued6 Plus Reimbursement Portion of Development Incentive Payments7 Plus Projected TID Fund Balance at Closure 64,713,333 763,778,171 396,395,000 133,581,750 195,033,611 Reconcile to Total TID Revenue from Cashflow Exhibit 1,488,788,532 Notes: 1 Net of proceeds allocated for capitalized interest and funding of debt service reserves. 2 Projected interest earnings on temporarily invested bond proceeds. 3 Reflects only that portion of land sale revenues applied to make interest payments on mortgage note. (Balance applied to reduce principal). 4 Reflects portions of annual tax increment collections used to pay debt service interest, operating costs and development incentive payments. 5 Estimated costs of issuance and debt discount. 6 Total shown includes $53.7M in interim financing.  7 Reimbursement to Developer from available tax increments for special assessments paid (projected $73.58M) and cash contribution ($60M). _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 28 Village of Mount Pleasant October 4, 2017 SECTION 10: Economic Feasibility Study, Financing Methods, and the Time When Costs or Monetary Obligations Related are to be Incurred This Section includes a forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how Project Costs would be financed, and a projected cash flow demonstrating that the District is economically feasible. Key Assumptions The analysis assumes that the Project will be constructed on a 1,198-acre site within the District and will be valued at $1.4 billion with construction commencing in 2018 and full valuation achieved by January 1, 2022. As a condition of Village and County investment in the project, the Developer will be required to guarantee $1.4 billion in minimum valuation for the entire life of the District. The valuation forecast, shown in Table 1 includes this $1.4 billion and an estimated temporary $8.2 million loss in valuation since land within the District that may be acquired by the Village would become tax-exempt for the period between its acquisition and sale or conveyance to a private entity. The Plan assumes that a sufficient amount of the acquired land (approximately 65 acres) would be sold or transferred prior to January 1, 2022 to negate this decremental value. Additional transfers or sale of land will increase the incremental value of the District, but are not assumed for purposes of the projections. The projections also do not take into consideration the expectation that additional development will occur within the remaining 2,723-acres included within the District. The exclusion of likely additional development and valuation is intended to provide for conservatism in the projections and to ensure that the valuation of the primary manufacturing facility will be sufficient to pay all anticipated District Project Costs. If a greater level of valuation is achieved within the District, it would provide for a quicker recovery of costs and an earlier District closure. Assuming the minimum valuation requirement of $1.4 billion as a constant, and the Village’s current equalized TID Interim tax rate of $22.21 per thousand of equalized value, the Project facility would generate $31.1 million in incremental tax revenue per year commencing as of the 2022 tax levy for the 2023 budget year. Over the 30-year term of the District, the Project is projected to generate approximately $885.7 million in incremental tax revenue as shown in Table 2. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 29 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Development Assumptions1 Construction Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 Totals Land Decrement  Due to  Acqusition3 Manufacturing  Space2 Actual 350,000,000 350,000,000 350,000,000 350,000,000 0 1,400,000,000 Land Increment  Due to Transfer  or Sale4 (2,747,533) (2,747,533) (2,747,533) 8,242,600 3 (8,242,600) 8,242,600 Annual Total 347,252,467 347,252,467 347,252,467 358,242,600 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Construction Year 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1,400,000,000 Notes: 1 Assumes incremental valuation anticipated on first 1,198 acres only. (Potential incremental valuation on remaining 2,723 acres not included for forecast purposes.)  2 $1.4B valuation (20,000,000 SF) to be guaranteed as of January 1, 2022. Assumes four year construction period with 25% of valuation established in each year. 3 Reflects temporary decremental value resulting from public acquisition of land in Areas II and III (appx. 1,617 acres) and temporary conversion to tax‐exempt status pending sale. 4 Reflects elimination of decremental value resulting from subsequent transfer or sale of land to Developer or other private parties. (Transfer or sale of 165 acres needed to negate decrement). Table 1 – Development Assumptions _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 30 Village of Mount Pleasant October 4, 2017 Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Tax Increment Projection Worksheet Type of District District Creation Date Industrial November 13, 2017 Valuation Date Max Life (Years) Expenditure Period/Termination Revenue Periods/Final Year Extension Eligibility/Years Recipient District 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Jan 1, 30 30 Yes 1,400,000,000 29,686,893 0.00% Base Tax Rate1 Rate Adjustment Factor $22.21 11/13/2047 2049 3 No Construction  Year Value Added 2018 347,252,467 2019 347,252,467 2020 347,252,467 2021 358,242,600 2022 0 2023 0 2024 0 2025 0 2026 0 2027 0 2028 0 2029 0 2030 0 2031 0 2032 0 2033 0 2034 0 2035 0 2036 0 2037 0 2038 0 2039 0 2040 0 2041 0 2042 0 2043 0 2044 0 2045 0 2046 0 2047 0 Totals 2018 30 Base Value Appreciation Factor Valuation Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2 Inflation  Increment 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total  Revenue Year Increment 347,252,467 2020 694,504,933 2021 1,041,757,400 2022 1,400,000,000 2023 1,400,000,000 2024 1,400,000,000 2025 1,400,000,000 2026 1,400,000,000 2027 1,400,000,000 2028 1,400,000,000 2029 1,400,000,000 2030 1,400,000,000 2031 1,400,000,000 2032 1,400,000,000 2033 1,400,000,000 2034 1,400,000,000 2035 1,400,000,000 2036 1,400,000,000 2037 1,400,000,000 2038 1,400,000,000 2039 1,400,000,000 2040 1,400,000,000 2041 1,400,000,000 2042 1,400,000,000 2043 1,400,000,000 2044 1,400,000,000 2045 1,400,000,000 2046 1,400,000,000 2047 1,400,000,000 2048 1,400,000,000 2049 0 Tax Rate $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 $22.21 Future Value of Increment Tax Increment 7,711,339 15,422,678 23,134,017 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 885,682,127 Notes: 1 Actual rate for the 2016/17 levy as calculated on DOR Form PC‐202 (Tax Increment Collection Worksheet). 2 Assumes incremental valuation anticipated on first 1,198 acres only. (Potential incremental valuation on remaining 2,723 acres not included for forecast purposes.)  Table 2 – Tax Increment Projection Worksheet _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 31 Village of Mount Pleasant October 4, 2017 Financing and Implementation The Village, in conjunction with Racine County, expects to issue a series of debt financing obligations to pay for Project Costs within the District. Debt issuance timing, the issuing entity, amounts to be financed and debt instruments expected to be used are based on current pre-design engineering estimates and land acquisition cost estimates and may change. Debt obligations shown may also be issued in more than one series to coincide with the need for capital over the expected three-year buildout period. The tables below identify both the public debt expected to be issued (Table 3) and other District obligations to be paid from available tax increments (Table 4). Timing Instrument Issuer Funds Late2017 Mid2018 G.O. Bonds Racine County Land Acquisition Revenue Bond Anticipation Note (Interim Financing) Tax Increment Revenue Bond Village Sanitary Sewer Infrastructure $53.7M Village, or its Community Development Authority Racine County Water Infrastructure and Village Roads; Fiber Extension; Working Capital; Prof. Fees & Costs & Other Miscellaneous Expense Water and Sanitary Sewer Infrastructure Payoff of Revenue Bond Anticipation Note $113.2M Mid2018 Mid2018 Early2020 G.O. Bonds Estimated Amount $55.2M Utility Revenue Village Bond (Clean Water Fund Loan Program) Subtotal Projected Public Debt Financing Less: Interim Financing Total Projected Long-Term Public Debt Financing $62.6M $53.7M $338.4M ($53.7M) $284.7M Table 3 - Projected County and Municipal Debt Obligations Timing Instrument Issuer Funds Early-2018 Mortgage Loan Land Acquisition Concurrent with Development Agreement Development Incentive (“Pay as you Go”) Racine County & Village (Municipal Partnership) Village Estimated Amount $58.0M Direct Development Incentive Reimbursement for Special Assessments Paid Reimbursement for Private Funds Committed to Land Acquisition Total of Projected Other Obligations $100.0M $73.6M $60.0M $291.6M Table 4 - Other District Obligations _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 32 Village of Mount Pleasant October 4, 2017 Regardless of the pledged primary security, the Village intends to utilize tax increments collected to pay the debt service for all obligations issued to fund Project Costs. Additionally, land sale revenues received by the Village and County Municipal Partnership will be used to pay down the Mortgage Loan. Payments to Developer under the development incentive for reimbursement of special assessments and its upfront funding of a portion of total land acquisition costs is a contingent liability payable only after all annual debt service payments have been made, and only to the extent that total fund balances within the District exceed minimums to be specified in the development agreement. Developer Guarantee & Security Features If the incremental valuation of the Project is less than $1.4 billion in any tax year, Developer will be required by terms of the development agreement to make supplemental payments to the Village in an amount equal to the difference between the incremental taxes collected for the Project, and the taxes that would have been paid on the minimum required Project valuation of $1.4 billion. In addition to the developer guarantee of Project value, the Village and County will utilize or require the following to further protect the public investment in the Project:  State Moral Obligation Pledge. The Act provides for the extension of the State of Wisconsin’s moral obligation pledge as additional security for 40% of the total public debt issued to fund Project Costs. The Village intends to utilize this moral obligation pledge as additional security for the Tax Increment Revenue Bond expected to be issued. The moral obligation pledge requires that the State legislature consider appropriation of funds to pay the debt service in the event tax increment revenue collections are not sufficient to make debt payments.  Special Assessment. The Village will levy special assessments against the properties conveyed to Developer for the Project to reflect the special benefit conferred on that property because of installation of public improvements. For a period of twenty years, the special assessment payments will provide an annual source of revenue in addition to tax increments than can be used to pay Project Cost debt service. Assessments paid by Developer may be later refunded if District cash flows permit.  Fund Balance Reservation for Debt Service. Any funds remaining after the annual payment of debt service, Village public safety related operating and capital costs, and other direct expenses will be maintained in the District special revenue fund until the balance in that fund is equal to three years of debt service payments. No reimbursement payments to the Developer for its contributed land acquisition capital will be made until the balance in the fund exceeds the reservation amount for debt service.  Land Ownership. Title to any land acquired within Areas II and III will be held by the Village for the benefit of the Joint Public Partnership formed by the Village and Racine County until either conveyed to the Developer for subsequent expansion or sold to another party. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 33 Village of Mount Pleasant October 4, 2017 Cash Flow Village of Mount Pleasant, Wisconsin Tax Increment District # 5 Cash Flow Projection Year Special  Tax Increments 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 Assessments1 Projected Revenues Long Term Debt  & Other  Developer  Financing  Capital  Contribution 60,000,000 Sources2 55,165,000 248,196,667 39,333,333 53,700,000 Expenditures Other  Revenues3 Interest4 89,333,333 39,333,333 39,333,333 Infrastructure &  Public Safety  Related Operating Costs 68,049,428 68,049,428 68,049,428 Public Safety  Capital Costs 192,600 95,400 1,250,000 191,017 6,195,509 13,911 208,671 Total 885,682,127 73,581,750 60,000,000 396,395,000 73,129,655 1,488,788,532 567,607,920 168,000,000 204,148,284 100,190,930 Notes: 1 Special assessment to be levied against Project site for $50M of public infrastructure costs. Assumes twenty year amortization at 4% interest rate with level payments. 8,147,109 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 3,679,088 2,120,788 27,188,758 76,948,150 30,884,547 30,471,147 30,071,447 18,465,947 18,468,247 18,472,647 18,468,747 18,466,147 18,464,247 18,467,347 18,469,747 18,465,947 18,465,347 18,467,147 18,470,547 18,469,847 18,469,347 18,463,347 9,293,147 9,290,447 9,290,147 9,291,847 9,290,247 9,290,047 9,290,847 9,292,247 9,288,947 9,290,547 0 Land  Acquisition 815,000 1,136,850 1,159,587 3,482,779 3,552,434 3,623,483 3,695,953 3,626,286 3,698,812 3,772,788 3,848,244 3,925,209 4,003,713 4,083,787 4,165,463 4,248,772 4,333,747 4,420,422 4,508,831 4,599,007 4,690,988 4,784,807 4,880,504 4,978,114 5,077,676 5,077,676 0 0 0 0 0 0 7,711,339 15,422,678 23,134,017 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 10,416,322 13,877,333 12,818,000 12,412,000 12,006,000 11,600,000 Debt Principal &  Total Revenues 55,165,000 318,612,988 53,210,667 77,908,427 31,513,766 38,819,105 46,368,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 34,768,498 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 Balances Development  Other Costs5 861,563 3,644,063 408,000 416,160 0 247,500 252,450 257,499 262,649 267,902 273,260 278,725 284,300 289,986 295,785 301,701 307,735 313,890 320,168 326,571 333,102 339,764 346,560 353,491 360,561 367,772 367,772 0 0 0 0 0 0 12,078,928 Incentives6 0 0 0 0 0 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 0 10,749,190 11,557,361 11,463,249 11,367,041 11,274,399 41,050,228 16,564,969 16,460,589 3,094,724 0 0 0 0 0 0 0 Total  Expenditures 861,563 164,155,212 136,211,770 187,156,658 34,558,343 40,466,590 43,961,292 32,628,070 32,357,182 32,439,361 32,514,795 32,593,116 32,673,756 32,761,046 32,849,320 32,933,111 23,021,854 33,863,974 34,768,498 34,768,498 34,768,498 34,768,498 55,474,742 31,089,411 31,089,411 17,832,019 14,735,695 9,290,047 9,290,847 9,292,247 9,288,947 9,290,547 0 Principal  Annual 54,303,438 154,457,777 (83,001,103) (109,248,232) (3,044,578) (1,647,486) 2,407,207 2,140,428 2,411,316 2,329,137 2,253,703 2,175,382 2,094,743 2,007,453 1,919,179 1,835,387 11,746,644 904,524 0 0 0 0 (20,706,244) 0 0 13,257,392 16,353,716 21,799,364 21,798,564 21,797,164 21,800,464 21,798,864 31,089,411 Cumulative 54,303,438 208,761,214 125,760,111 16,511,880 13,467,302 11,819,816 14,227,022 16,367,451 18,778,767 21,107,904 23,361,607 25,536,989 27,631,732 29,639,185 31,558,363 33,393,750 45,140,394 46,044,918 46,044,918 46,044,918 46,044,918 46,044,918 25,338,674 25,338,674 25,338,674 38,596,066 54,949,782 76,749,145 98,547,709 120,344,873 142,145,336 163,944,200 195,033,611 Outstanding7 55,165,000 230,995,000 284,695,000 284,695,000 276,492,222 267,988,240 259,157,359 249,998,871 240,492,048 230,621,151 220,380,421 209,754,084 198,726,346 187,276,399 175,388,415 163,051,547 150,244,931 136,947,682 123,138,897 108,802,652 93,918,002 78,468,982 71,784,604 64,868,860 57,710,718 50,299,124 42,628,000 34,686,244 26,462,730 17,946,308 9,130,799 0 0 233,581,750 1,293,754,921 Year 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 Total Projected TID Closure 2 Includes proceeds of long‐term debt issued by the Village and County; mortgage loan proceeds obtained by the Village and County Joint Partnership; and interim financing obtained in advance of securing Clean Water Fund Loan financing. 3 Includes State Grant Funds ($10M); interest earned on temporary investment of bond and loan proceeds; and land sale revenue. Estimated principal and interest payments for long‐term debt issued by the Village and County; mortgage loan proceeds obtained by the Village and County Joint Partnership; and interim financing obtained in advance of securing Clean Water Fund Loan financing. 4 5 Includes finance related expenses, professional services and administrative expenses. 6 Includes $100M development incentive payment plus reimbursement to Developer for special assessments paid (projected $73.58M) and cash contribution ($60M). Payments contingent on availability of funds and maintenance of a TID fund balance equal to three‐years debt service. Outstanding debt principal amount due on long‐term debt issued by the Village and County. Excludes interim financing, mortgage loan financing and development incentive payments. 7 _______________________________________________________________________________________________________________________________________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 34 Village of Mount Pleasant October 4, 2017 SECTION 11: Proposed Zoning Ordinance Changes The District is being created by the Village under the authority provided by Wis. Stat. § 66.1105 and will be designated as an “Industrial District” based on a finding that at least 50%, by area, of the real property within the District is zoned and suitable for industrial sites within the meaning of Wis. Stat. § 66.1101. Prior to Village Board adoption of the resolution creating the District, all 3,922 acres within the District will be rezoned to Business Park; an industrial zoning classification within the Village’s Zoning Code. SECTION 12: Proposed Changes in Master Plan, Map, Building Codes and Village of Mount Pleasant Ordinances Prior to Village Board adoption of the resolution creating the District, a portion of the territory to be included within the District will be identified as Business Park by amendment to the Village’s Master Plan. No further changes to the Master Plan, map, building codes, or other Village ordinances are required or anticipated for the implementation of this Plan. SECTION 13: Relocation Relocations will be involved in the execution of the development contemplated by this Project Plan. The Village of Mount Pleasant will retain relocation specialists to assist the Village in discharging these relocation responsibilities. All relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 35 Village of Mount Pleasant October 4, 2017 SECTION 14: Orderly Development of the Village of Mount Pleasant Creation of the District contributes to the orderly development of the Village by providing the necessary public infrastructure and services necessary to allow for manufacturing, office, commercial, and related development within areas identified as appropriate for such use within the Village’s Comprehensive Plan. The development expected within the District will result in an increased Village tax base, an increase in employment opportunities, and increased economic activity within the Village, County, and region. The Village, through its implementation of this Plan and the exercise of its powers to regulate and manage the development of land, will ensure that the development that occurs within the District conforms to the Comprehensive Plan and all applicable Village ordinances, and occurs in an orderly fashion. SECTION 15: List of Estimated Non-Project Costs Non-project costs are public works projects that only partly benefit the District or are not eligible to be paid with tax increments, or costs not eligible to be paid with TID funds. Examples would include: A public improvement made within the District that also benefits property outside the District. That portion of the total project costs allocable to properties outside of the District would be a non-project cost. A public improvement made outside the District that only partially benefits property within the District. That portion of the total project costs allocable to properties outside of the District would be a non-project cost. Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact fees, grants, special assessments, or revenues other than tax increments. The Village does not at present expect to incur any non-project costs in the implementation of this Plan. _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 36 Village of Mount Pleasant October 4, 2017 SECTION 16: Opinion of Attorney for the Village of Mount Pleasant Advising Whether the Plan is Complete and Complies with Wisconsin Statutes Section 66.1105 Opinion Letter Located on Next Page _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 37 Village of Mount Pleasant October 4, 2017 von Briesen von Briesen & Roper, s.c. I Attorneys at Law TAGLaw lnternatronal Lawyers Alan H. Marcuvitz Direct Telephone 414-287 -1401 amarcuvitz@vonbriesen.com October 2,201,7 Village of Mount Pleasant BBLL Campus Drive Mount Plcasant, WI 53406 Re: Project Plan for Tax Incremental District No. 5 of the Village of Mount Pleasant Dear Sirs: We have acted as counsel to the Village of Mount Pleasant in connection with the proposed creation of Tax Increment District No. 5 of the Village of Mount Pleasant and the preparation of the project plan for the District [the "Project Plan"). In this connection, we have reviewed the Project Plan, the law and such other documents as we deem necessary to enable us to give this opinion. We have not been engaged or undertaken to verify the reasonableness or accuracy of the assumptions, estimates or financial projections contained in the Project Plan, and express no opinion relating thereto. Based on our review, it is our opinion that the Project Plan is complete and complies with Section 66J,L05 of the Wisconsin Statutes. Very truly yours, von BRIESEN & ROPER, s.c. Atu Alan H. Marcuvitz AHM:lyn 29301846 2 DOCX vonbriesen.com 411 East Wisconsin Avenue, Suite 1000 Milwaukee, Wisconsin 53202-4409 Phone 414-216-1122 Fax 414-276-628I Page 38 Exhibit A: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions Estimated Portion of Taxes that Owners of Taxable Property in each Overlying  Taxing Jurisdiction would pay by Jurisdiction. (Per Wis. Stat. § 66.1105(4)(i)4.) DOR Form PC‐202 Year Racine County Gateway Tech College 2016 296,329 62,435 Percentage 17.16% 3.62% Village of Mount Pleasant 590,047 34.17% School District of Racine 778,232 45.06% Total 1,727,043 Revenue  Village of  School District  Gateway Tech  Year College Racine County Mount Pleasant of Racine 2020 1,323,124 2,634,592 3,474,849 278,775 2021 2,646,248 5,269,184 6,949,697 557,549 2022 3,969,372 7,903,776 10,424,546 836,324 2023 5,334,371 10,621,749 14,009,370 1,123,921 2026 5,334,371 10,621,749 14,009,370 1,123,921 2027 5,334,371 10,621,749 14,009,370 1,123,921 2028 5,334,371 10,621,749 14,009,370 1,123,921 2029 5,334,371 10,621,749 14,009,370 1,123,921 2030 5,334,371 10,621,749 14,009,370 1,123,921 2031 5,334,371 10,621,749 14,009,370 1,123,921 2032 5,334,371 10,621,749 14,009,370 1,123,921 2033 5,334,371 10,621,749 14,009,370 1,123,921 2034 5,334,371 10,621,749 14,009,370 1,123,921 2035 5,334,371 10,621,749 14,009,370 1,123,921 2036 5,334,371 10,621,749 14,009,370 1,123,921 2037 5,334,371 10,621,749 14,009,370 1,123,921 2038 5,334,371 10,621,749 14,009,370 1,123,921 2039 5,334,371 10,621,749 14,009,370 1,123,921 2040 5,334,371 10,621,749 14,009,370 1,123,921 2041 5,334,371 10,621,749 14,009,370 1,123,921 2042 5,334,371 10,621,749 14,009,370 1,123,921 2043 5,334,371 10,621,749 14,009,370 1,123,921 2044 5,334,371 10,621,749 14,009,370 1,123,921 2045 5,334,371 10,621,749 14,009,370 1,123,921 2046 5,334,371 10,621,749 14,009,370 1,123,921 2047 5,334,371 10,621,749 14,009,370 1,123,921 2048 5,334,371 10,621,749 14,009,370 1,123,921 2049 5,334,371 10,621,749 14,009,370 1,123,921 Total 151,966,760 302,594,778 399,102,072 32,018,517 Total 7,711,339 15,422,678 23,134,017 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 31,089,411 885,682,127 Revenue  Year 2020 2021 2022 2023 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 Total _____________________________________________________________________________________________ Project Plan TID No. 5 Creation Prepared by Ehlers Page 39 Village of Mount Pleasant October 4, 2017