Joint Review Board approves resolution allowing expenditures from TIF 16 to support COVID-19 emergency loan program

The Joint Review Board for Oshkosh City approved a resolution permitting certain expenditures to be made within a half-mile radius of Tax Increment District No. 16, a downtown TIF, enabling use of available TIF cash to help fund a COVID-19 emergency revolving loan program.

The resolution authorizes the use of existing TIF 16 cash balance in support of loans administered by Greater Oshkosh EDC to help businesses cover payroll, rent and utilities during the governor-declared emergency. Alan, a city staff member, said the program would provide loans at attractive rates but warned, “Now I can't promise we're going to get everything repaid back so that is the risk that we're taking with this funding.”

Board members emphasized the measure is loan-based, not a grant program, and discussed an initial city contribution of up to $250,000 into the EDC-administered COVID-19 emergency loan fund. The county has contributed $750,000 to a related county fund; city staff said a clause limits to 40% the portion of that county money that may be loaned inside the city limits. The board noted Greater Oshkosh EDC’s revolving loan fund rules will govern administration and underwriting standards for emergency loans.

Officials described current TIF balances and future projections: TID 16 has about $800,000 in cash now and was estimated to have roughly $1,400,000 at planned close in 2028; TID 14 (around the Mercy Medical Center complex on Hazel) currently holds about $1,100,000 and terminates in 2027; TID 19 (Northwest Industrial Park) has about $500,000 now and was projected to exceed $2,000,000 by 2028, assuming present values hold. Board members said TIDs 14 and 19 could be considered later as donors to TID 16 but any amendment would require financial projections and follow the joint review board plan-amendment process plus plan commission and council review.

Mark Harris, serving as temporary chair for the meeting, called the vote after a motion and second. The board voice-voted in favor and the resolution passed. Barb, a board member, voiced support during the discussion, saying, “I would support this proposal.”

Board members asked staff to prepare financial analyses before any TID plan amendments are brought back; staff said that work will take time and likely would not return as a formal amendment for at least a month. The meeting concluded with a vote to adjourn.