FINANCIAL_SERVICESONGOING

City of Evansville Plan Commission Regular Meeting Agenda

City Sets Multi-Building TIF Incentives for Lot 2

Not to exceed $240,000 in aggregate (Building #1); Not to exceed $220,000 in aggregate (Building #2); Not to exceed $320,000 in aggregate (Building #3); plus waived sewer connection fees for first two buildingsEvansville Housing AuthorityPHILLIPS-MORNING INVESTMENTS LLCJanuary 6, 2026

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Description

In October 2018, the City of Evansville entered into an Unbinding Development Agreement with Phillips-Morning Investments LLC for a mixed-use project on Lot 2 in TID #9. The agreement promised annual tax increment reimbursements capped at $240,000, $220,000, and $320,000 for three buildings, plus stormwater and utility reimbursements and waived sewer connection fees for the first two structures, contingent on timely construction. The deal required recording with the county and allowed amendments to be attached and recorded as development progressed.

Contract Details

Contract Amount

Vendor

PHILLIPS-MORNING INVESTMENTS LLC

Agency

Evansville Housing Authority, WI

Contract Type

FINANCIAL_SERVICES

Document Date

January 6, 2026

Contract Term

Through 2033 taxable year for each building’s reimbursement stream, contingent on completion milestones

Renewal Date

2033-12-31

Renewal Info

Original agreement in effect from approval on October 9, 2018 until its termination via Amendment #1 executed in April 2023; allowed written amendments to modify incentive division among future property owners and required all amendments be recorded.

Issuing Agency