Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee approves resolution to close TID No. 7, staff says final collections leave small shortfall
Summary
The City of West Bend Finance Committee on Sept. 8 approved a resolution to terminate Tax Incremental District No. 7, which staff said will collect one final round of taxes and leave an approximate $250,000 shortfall to be covered as part of the closeout process.
The City of West Bend Finance Committee on Sept. 8 approved a resolution to terminate Tax Incremental District No. 7, which the committee said has reached the end of its planned term and must be closed out under state law. John, a city staff member, told the committee the district — created in 1999 — has largely met its objectives, returning increased property values and infrastructure investment to the community. He said the district will collect one more round of taxes that will be applied to outstanding TIF debt and that, after that last collection, the closeout will leave an approximately $250,000 shortfall that previously had been…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
