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Cross Plains board accepts 2024 TID No. 3 annual report; staff says district can close in 2027 if no new expenditures
Summary
The Village of Cross Plains Joint Review Board voted to accept the 2024 annual report for Tax Incremental District (TID) No. 3 and heard a staff overview showing about $58.9 million in incremental value and a projected 2027 closure if no further expenditures are undertaken.
The Village of Cross Plains Joint Review Board on Sept. 17 accepted the 2024 annual report for Tax Incremental District No. 3 and heard staff projections that the district can be closed in 2027 if the village undertakes no further expenditures.
Greg, a staff member, said, “the incremental value in this district as of 01/01/2025 is $58,907,300.” He told the board the fund balance at the end of 2024 was approximately $52,700 and that the district’s final year of increment collection, if needed, is 2036.
The report presented maps and a history of the TID’s incremental value since its creation in February 2008 and amendments in 2011 and 2013. Greg outlined revenue sources that feed the TID, identifying tax increment as the primary revenue with additional intergovernmental aids and personal property aid payments. On the…
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