Mike Zimmerman and ROC Ventures Owe Franklin $1,022,000 for 2023

 

On Wednesday, February 21 the Franklin Common Council meeting at 6:30pm will take up two issues in closed session pertaining to shortfall payments, payments in lieu of taxes, investing of public funds and the modification of TID #5 to incorporate BadAx development, Vitalogy, and Poths, All Mike Zimmerman related developments.  Items #39 and #40 on the Council Agenda.

In 2016 Steve Taylor as former Franklin Alderperson and then also Milwaukee County Supervisor led the charge to push Ballpark Commons thru the County Board and the City of Franklin.  Taylor helped develop TID#5 for Ballpark Commons.  In recognition for his efforts, the ROC Foundation was created and Zimmerman provided Taylor with a $70,000 a year job.

According to public records from the City of Franklin on December 19, 2023 ROC Ventures was invoiced $87,314.68 for payment in lieu of taxes as part of the TID #5 Development agreement for Ballpark Commons.  Additionally ROC Ventures received another invoice for Shortfall on Debt Service from the City of Franklin on December 19, 2023 for $934,935.82.  Both invoices totaling $1,022,250 were due on January 18, 2024.

The table below shows how the shortfall in debt service owed by ROC Ventures was calculated

City of Franklin, WI
Ballpark Commons Minimum
Assessment Guarantee
2023 Tax Year
Due in 2024
Guarantee$112,000,000.00
Value Increment (with Base Value)$70,615,600.00
Value Increment (LESS) Base Value)$67,571,700.00
Shortfall (with Base Value)$41,384,400.00
Shortfall (LESS Base Value)
Debt Service - Principle
2019A$10,680,000.00$1,000,000.00
2019C$4,045,000.00$225,000.00
2020A$9,454,000.00$200,000.00
2019C$3,225,000.00$125,000.00
Total Debt Service Principle - 2023$27,404,000.00$1,550,000.00
Debt Service - Interest
2019A$10,680,000.00$288,725.00
2019C$4,045,000.00$92,978.75
2020A$9,454,000.00$178,335.00
2019C$3,225,000.00$79,163.75
Total Debt Service Principle - 2023$27,404,000.00$639,202.50
Total Debt Service -2023$2,189,202.50
TID Increment
Tax Levy Increment$1,166,952.00
Payment in Lieu of Taxes$87,314.68
TOTAL Increment$1,254,266.68
Shortfall on Debt Service$934,935.82

On March 1 the CITY writes a check to bond holders in the amount of $2,189,202 to make interest and principal payments on the bonds that financed the infrastructure for Ballpark Commons.  Of that $2.2m, Property taxes collected covers $1,254,266 leaving the $1,022,000 to be covered by Zimmerman and ROC Ventures.  Based on Zimmerman wanting to make arrangements with the city, he does not have the cash to pay.  If Zimmerman doesn't cover it, you, I and the rest of the Franklin taxpayers will. 

The table shows clearly that ROC Ventures owes the City of Franklin almost $1M short fall for last year as a result of Ballpark Commons not creating the minimum tax increment for 2023.  When will the City stop the madness?  The city needs to STOP spending money like it is an endless stream.  

If more time is granted to Zimmerman and ROC Ventures to pay the shortfall payment (actually, $1.2M) the TAXPAYERS and the City General Fund will need to pay it.

On top of this Zimmerman, ROC Ventures and partners (BadAx development, Vitalogy, and Poths) want to modify the TIF to probably incorporate or expand it to include these developments.  

Will Mayor Nelson, and some members of the Common Council say NO MORE!  No more approvals of anything for Zimmerman or ROC Ventures until all bills are paid in full.

Remember Mayor Nelson is now the Mayor and this issue is squarely in his lap, his decision.  This is why Nelson's campaign election team consisted of Steve Taylor,  Mike Zimmerman, Kelly Hersh (Nelson Appointed Director of Administration), and a few others.

Maybe before there are any other agreements with Zimmerman, Taylor and ROC Ventures the Mayor could address the sound and other issues as he promised that have not yet happened.  Remember this is the Mayor that sat by in a secret meeting where he allowed Taylor, who really has no role in the operation of the Rock, as he works for the non profit ROC Foundation, to call residents of Franklin "Fuc*ers", and called County Supervisors "Terrorists".

Please FOR THE GREATER GOOD OF FRANKLIN attend the meeting on Wednesday and let your voices be heard.

The City of Franklin and Mayor Nelson BOUGHT AND PAID FOR BY Mike Zimmerman, Your County Supervisor Steve Taylor, and ROC Ventures.  Remember ......according to the ROC Foundation webpage ROC Stands for - Return on Community!

In case you are interested, County Supervisor Steve Taylor and ROC Executive Director involvement in Ballpark Commons/ROC Ventures since 2008

  • Time Line of Mr.Taylors Voting and Business Activity Record Franklin Alderman, Milwaukee County Supervisor, Steve Taylor Consulting, LLC and ROC Foundation Executive Director.

    • April 2008-2014 - Steve Taylor, Franklin Common Council President

    • April 2012 - Steve Taylor Elected Milwaukee County Supervisor

    • May 15, 2012 - County Supervisor Taylor Appears before County Committee on Parks recreation and Culture submitting an informal report regarding a proposal to develop athletic fields at Crystal Ridge.

    • April 4, 2016 - Franklin Alderman Taylor moved to adopt ordinance to amend section of the Unified Development Ordinance Planned development District to revise the district and to expand the district to encompass certain adjacent area lands to create the “Ballpark Commons” Sports Anchored Mixed Use.  Motion made by Alderperson Mayer to amend motion - Taylor Voters No Motion Carried. Roll Call vote to adopt Taylor votes Aye - Motion Carried.

  • April 4, 2016 - Franklin Alderman Taylor moved to adopt an Ordinance to amend the City of Franklin Comprehensive Master Plan of Franklin 2025 Future Land Use Designations for properties at 7900 west Crystal Ridge Drive (Ball Park Commons).  Taylor Votes Aye.  Motion Carried.

  • April 26, 2016 - Taylor registers Steve Taylor Consulting, LLC specializing in “government relations, zoning, construction permits, tax credits, tax incremental financing, property values and all other areas involved in the intersection between business and government”.

  • September 6, 2016 - Franklin Alderman Taylor moved to adopt resolution approving the project plan and establishing the tax boundaries for the creation of Tax Incremental District #5 for Ballpark Commons.  Motion amended to provide all non-taxable property in the district.  Second by Tayler.  All voted Aye Motion Carried.  Mayer moved to add $100,000 for 5 years for water and air quality.  Taylor second and withdrew.  Mayer withdrew motion.  Mayer moved to amend motion to provide a project plan with provision of air and water quality monitoring.  Second, Taylor all voted Aye.  On the vote for the main motion to adopt, all voted Aye.  Motion carried.

  • September 6, 2016 - Franklin Alderman Taylor moved to place on file the value engineering process status for the Ballpark Commons Project.  All voted Aye.  Motion carried.

  • February 21, 2017 - Franklin Alderman Taylor moved to receive and file the status report regarding the Ballpark Commons Development.  All voted Aye.

  • September 28, 2017 - Milwaukee County Director of Economic Development, Department of Administrative Services requests Milwaukee County Board authorization to enter into a contribution and participation (Trust) agreement with Ball Park Commons County Land, LLC for the sale of the Crystal Ridge landfill and authorization to execute a new lease.  Motion made by Weishan to refer to corporation counsel for legal opinion.  Taylor votes No.  Motion failed.  Motion made by Weishan that report be referred back to the committee on finance and audit.  Taylor votes No  motion Failed.  Motion made by West that action report be adopted.  Tayler votes Aye.  Motion Prevailed. 

  • September 2017 - News articles showing Taylor taking credit and his affiliation with Mike Zimmerman, CEO, ROC Ventures 

  • April 2018 - Steve Taylor not re elected as County Supervisor

  • August 26, 2019 - Mike Zimmerman has Tom Johns register ROC Foundation, Steve Taylor becomes Executive Director. 

  • April 2020 - Steve Taylor does not seek re-election to Franklin Common Council.

  • April 2022 - Steve Taylor re-elected as County Supervisor.



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