HARTLAND - The Hartland Village Board agreed
Monday to hire Ehlers to review two tax incremental finance
The areas that Ehlers will review include the
downtown TIF district No.4 and a related amendment, as well as
the possible creation of TID district No. 6.
As part of the agreement, Ehlers will review the
developer’s proposed project resources, uses and cash flows to
access financial feasibility.
“The results of this analysis will give the
client substantial information to help determine if and how to
move forward with future negotiations with the developer,”
according to a letter from Ehlers outlining what it will do as
part of the contract, including estimating client revenues,
reviewing the developer’s financial data and to identify options
for financing, as necessary.
Ehlers will be compensated hourly and the village
can get out of the contract at the ends of different periods in
the process. Ehlers said that in past experiences on similar
projects, municipalities paid between $2,500 and $7,500 for the
analysis based on complexity and availability of information.