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Waunakee approves TIF grant for 101 East Main Street after owner and consultant detail needed repairs
Summary
The Village of Waunakee approved a developer agreement to reimburse repairs at 101 East Main Street (within Tax Increment District 8) and amended the agreement’s resale/clawback term from five to 10 years after questions from trustees and an Ehlers analysis.
The Village of Waunakee board on the night of the meeting approved a developer agreement to provide Tax Increment District (TID) assistance for repairs at 101 East Main Street, a historic downtown building, and amended the agreement to extend a resale repayment requirement from five years to 10 years.
The agreement covers work already completed to address immediate roofing and masonry hazards and identifies additional deferred-maintenance projects to keep the building viable, village staff said. The board approved a motion that included language “true[ing] up the timing in section 7” to change the developer repayment period from five years to 10 years.
Why it matters: The building at 101 East Main Street is one of the village’s older downtown properties and trustees described the grant as an investment in preserving the downtown commercial fabric.…
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