November 1, 2025

Two Rivers City Hall

1717 E. Park Street

Two Rivers, WI 54241

920-793-5523

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From the

City Manager's Desk

Two Rivers Reaffirms Commitment to Financial Sustainability

It’s budgeting season at City Hall and Two Rivers continues to pay down its debt faster than most communities in Wisconsin, with 98% of our current debt scheduled to be repaid within the next decade. I don't know about you, but I sure wish 98% of my personnel debt was paid off in a decade. Two Rivers has been very financially prudent over recent history!

At the same time, we need to keep planning for the future, making sure today’s progress doesn’t come at tomorrow’s expense.

That’s why the City Council is now considering a new Resolution Affirming the City’s Commitment to Financial Sustainability and Responsible Debt Management, which will appear on the Council agenda for November 3, 2025.

This resolution reinforces principles that I hope will guide Two Rivers’ budgeting decisions for years, ensuring that our community continues to invest wisely while maintaining a strong financial position.

Under Wisconsin law, municipalities can issue general obligation debt up to 5% of their total property value. For Two Rivers, that’s about $50 million. This proposed resolution sets a self-imposed “Debt Cap” of just 60% of that limit, or roughly 3% of the City’s total equalized value, as a higher standard of fiscal discipline.

This is a built-in safeguard that ensures the City will never borrow beyond what’s sustainable.

Right now, we’re sitting comfortably at about 38% of the State debt limit and that will drop even lower by the end of 2025.

This proposed Debt Cap policy also lays out several key rules for how Two Rivers manages debt:

Long-term borrowing will only be used for true capital projects, not day-to-day operations.

No bond or note will exceed the useful life of the asset being financed.

At least half of all debt must mature within ten years.

The City will prioritize revenue bonds and other self-supporting financing tools whenever possible.

All financial reporting and bond disclosures will remain transparent and accurate to maintain the City’s strong fiscal integrity.

Recent actions within the last 100 days also reflect that same commitment to financial responsibility, including a $305,000 payment and future revenue sharing from a new cell-tower lease and a competitive fleet fuel contract that locks in lower costs for City operations.

These efforts are all part of a consistent approach: spend smartly, plan ahead, and protect taxpayers. Two Rivers is proud to continue living by those values, keeping our community financially strong, sustainable, and focused on the future while embracing our past.

I welcome questions or suggestions from the community, please don't be afraid to reach out with questions or concerns, especially during budgeting season.

- Kyle Kordell, City Manager.

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2026 Property Tax Levy Preview

Keeping Two Rivers

on a Sustainable Path

As part of the upcoming 2026 City budget discussions, the Two Rivers City Council will review property tax levy options and their impact on residents. Each year, the City carefully balances the need to fund essential services and infrastructure while keeping tax impacts as low as possible. Nobody likes to pay taxes.

For 2026, modest increases are proposed for the Debt Service Fund (increase of $35,065 or 1.37%) and Library Fund (increase of $13,635 or 2.00%). In addition, the City has about $47,000 in allowable levy capacity for the General Fund, plus $45,000 in unused capacity carried forward from last year.

If all of these options are utilized to fund local community investment, the total levy increase would be $140,700 (or 2.55%), which equals about a $31 annual increase on a home assessed at $200,000.

Last year, the City held the line with no levy increase (0%) but as costs for materials, equipment, and services continue to rise in this inflationary economy, a modest increase of 2.5% helps the City maintain streets, parks, and public safety, services that residents demand and expect.

What's Happening with the

Former Hamilton Property

The former Hamilton Manufacturing Company property in downtown Two Rivers is a site with a long history and an important future...

Many residents have reached out to City Hall recently to ask what’s happening there today and where things stand in bringing the site back to productive use. That is a good question.

For over a century, the Hamilton complex was a major employer and industrial landmark in Two Rivers. The company closed in 2012 and the large factory buildings were later purchased and demolished by Thermo Fisher Scientific, which also took on responsibility for environmental assessment and cleanup of the property. The property is still owned by Thermo Fisher Scientific, not the City of Two Rivers.

The site remains under the oversight of the Wisconsin Department of Natural Resources (DNR) due to its industrial past. Before any transfer of ownership can occur, the DNR requires additional soil testing and regulatory review to confirm the safety of the land for future use.

This process is highly technical and involves careful coordination between Thermo Fisher, the DNR, and the City. These steps are necessary to ensure that any future redevelopment of the site meets all environmental standards and avoids shifting liability to City taxpayers. It's a slow process.

There has been some confusion in the community that the City is “holding on” to the property or delaying its reuse. In fact, the City does not own the site and cannot take title until the DNR’s requirements are fully resolved. The City’s role is to stay engaged, advocate for timely progress, and plan for future redevelopment once the site is cleared for transfer. Currently, the City is closer to acquiring the property than it has ever been.

Looking Ahead

The long-term vision for the Hamilton site remains a vibrant, mixed-use redevelopment that reconnects downtown Two Rivers to the East Twin River and creates new opportunities for housing, recreation, and business investment. The City plans on more community engagement with a vision process anticipated in the first half of 2026.

The City appreciates the community’s patience as this complex process moves forward. While progress may not always be visible from the street, important work continues behind the scenes to ensure that when redevelopment finally happens here, it happens safely, responsibly and for the long-term benefit of Two Rivers.

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