Five companies slated to move into village TID

The Fredonia Village Board last month approved developer’s agreements and offer to purchase land for five business that will locate in the village’s tax incremental finance district No. 3.

The businesses and the size of their purchases include:

Greatland Electrical, 2.04 acres, with a minimum value guarantee of $250,000 by 2025

Ideal Tree Service, 2.5 acres, with a minimum value guarantee of $150,000 by 2026

Jeremey Gasiorowski, 1.3 acres, with a minimum value guarantee of $150,000 by 2026

RJ Fredonia, 8.6 acres, with a minimum value guarantee of $250,000 by 2026

Badger Paperboard, 8 acres, with a minimum value guarantee of $7.5 million by 2026.

Increment generated within the TID will pay for utilities and a roadway to service the new properties.

Jim Larkin of Colliers Commercial Real Estate was the lead agent for the developments.

“The village has been very fortunate to have a ready-to-develop property sectioned off for these purposes,” he said in a release.

“These developments are exciting to announce,” Village Administrator Christophe Jenkins said. “Over a half million of upfront dollars and a minimum of $8.3 million of guaranteed assessed value by 2026 is a huge win for the village and the taxpayers.”

Village President Don Dohrwardt and Trustee Dan Gehrke said they are proud of the quick progress made in the village.

“I initially proposed creating a TID six years ago. And after a little back and forth, we’ve been able to get this off the ground,” Dohrwardt said.

“In the end, we pulled the trigger at just the right time. This is a total win for the Village of Fredonia.”

“These projects will bring in jobs and positive economic growth for Fredonia, and I am proud of what we’ve been able to accomplish together through recruitment and development,” Gehrke said.