Processes to Request TIF Assistance

Step 1 - Preliminary Consultation with Village Staff
Prior to giving much thought to potential TIF assistance, it is advised that those interested schedule a meeting to discuss their project and request with Village staff. Depending on the project specifics, the involved staff may include the Village Administrator / Economic Development Director, Finance Director, Village Engineer, Village Clerk and potentially others.

To request a meeting, contact the Village Administrator / Economic Development Director at (608)850-5227 or by email at tschmidt@waunakee.com.

Prior to attending the meeting, please carefully review the Village's TIF policy and other background materials regarding TIF in Waunakee.

Staff may assist by identifying concurrent processes that may be feasible during a TIF assistance approval process, such as rezoning, site plans, conditional use permits, etc. To the greatest extent possible, staff hopes to accommodate a prompt time-frame by running multiple approvals concurrently.

Step 2 - Submit Letter of Intent
A formal request for TIF assistance is initiated by the Village receiving a letter of intent which should include the following details:

  • Description of site or building(s) (e.g. current condition, historical overview, size and condition of existing structures, environmental conditions, past uses, etc.)
  • Description of proposed use and end users (e.g. industrial, commercial, retail, office, residential for sale or rental, senior housing, etc.)
  • Discussion of profitability
  • Overview of private-sector financing
  • Summary of increment projections
  • Total development costs
  • Construction information (e.g., size of existing structures to be rehabbed or razed, size of new construction, type of structural and finish materials, delineation of square foot allocation by use, total number and individual square footage of residential units, type of residential units, number of affordable units, number/type of parking spaces, construction phasing plan, etc.)
  • Project start and end dates
  • Confirmation that project is consistent with goals and objectives of the TIF Project Plan for the District
  • Description of public benefits, including job creation
  • Amount of TIF assistance requested
  • Name of developer and owner
  • Statement regarding why TIF is essential and why the "but for" provision will be met*
  • Draft project renderings (to the extent possible, renderings could be provided at this stage to better explain the site and proposed uses; additional drawings may be required for the project during later steps in the process)
*Note: In the "but for" discussion, you must clearly describe why TIF is needed to help this project and why the project will not / cannot proceed without such support. Failure to clearly provide the "but for" explanation will delay action on your request. Visit this link for more information on what the State of Wisconsin expects in terms of the "but for" finding.


Step 3 - Staff and 3rd Party Consultant Review / Drafting of Development Agreement
Village staff, together with 3rd party consultants (legal, financial, planning, design), will review the proposal. In most instances, a Development Agreement is the formal document used to memorialize a TIF assistance package. The Village may require the applicant to craft the first draft of a development agreement.

Be advised that the Village may require detailed project pro-forma above and beyond what is initially presented in the letter of intent. Further, the Village may require financial statements to assist in determining whether the "but for" test is met. To the extent allowed by law, the Village may utilize a 3rd party financial advisor to collect, review, and report on the private financial statements in order to protect confidentiality of sensitive applicant data.

The Village reserves the right to bill the applicant for 3rd party consulting fees and/or other related expenses as they pertain to the assistance request review process.

Step 4 - Village Board Approval
Final decision making authority on granting TIF assistance rests with the Village Board. Typically staff will brief members of the Village Board in advance of discussion at a public meeting. It may also be the case that one or two members of the Board will participate in a sub-committee during earlier steps in the process to offer Board member perspective on potential assistance requests.

Once scheduled for Village Board action, approval may be completed in a single meeting. However, the Board has the right to defer action for further study/review or outright deny the request. In order to avoid delay at this step staff will work diligently with the developer to assemble thorough and complete information.

The Village Board regularly meets twice monthly. Click here for current details regarding Board meetings and schedule.