Baird’s Wisconsin Municipal Team Continues to Provide Value to The City of Waupaca

The Need

Located in Central Wisconsin, the City of Waupaca was in conversations with a development firm looking to construct 32 single family homes and 124 townhouse-style apartments. The city was considering a variety of scenarios to determine the best course of action for the proposed developer’s agreement.

Baird believes in establishing long-term relationships with our clients. Vice President, Adam Ruechel, worked in partnership with the City’s staff on the following: running several scenarios, reviewing revenue projections, infrastructure assistance, up-front incentives, and pay-as you go incentive modeling to ensure the result met exactly what the City needed. This service was provided to the City of Waupaca at no additional cost, as a result of our long-term relationship with the City.

The Solution

The Baird team began reviewing the financial scenarios with the City that they had received from the developer. Upon review, the initial agreement proposed infrastructure costs to the City to achieve the needs of the project. After working through various scenarios, we created a proforma which proposed the developer financing the infrastructure costs to provide added security for the City by allowing them to pay the developer back through future tax incremental financing revenue, eliminating the additional debt service to finance the project.

The Baird Difference

Through partnership with Baird, the City was able to put the additional funds towards other necessary municipal debt funded projects. Our financial analysis and review resulted in an executed developers agreement with Tycore Built for the construction of the project, which was one of the largest residential development projects to occur in the City of Waupaca.