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Committee approves 2025 budget change to fund TID 3 street improvements including Fulton Street
Summary
The committee approved a budget change of purpose to fund 2025 street improvement projects from Tax Increment District 3 (TID 3). Fulton Street will require additional TID funding to cover higher-than-estimated road and stormwater costs; some projects had lower bids than estimates.
The Wausau Finance Committee on March 11 approved a 2025 budget change of purpose to shift funding for certain street improvement projects to Tax Increment District 3 (TID 3).
Engineering staff explained the change and the supporting spreadsheet prepared by the engineering division. Projects are tabulated by component — water, wastewater, stormwater and road — and typically water and wastewater costs are paid from the utility while road and stormwater costs come from the levy or the TID. For a subset of projects, staff proposed using TID 3 funds to pay for utility work on Fulton Street that had not been initially proposed to be TID-funded.
Staff said several projects came in with higher-than-estimated bids for roads and stormwater, while other projects had bid savings where estimates exceeded the actual bids. Fulton Street (identified as project B in the packet) required additional funding from TID 3 because the combined road and stormwater costs were higher than estimated. The change of purpose would allow TID 3 to pay for the water and sewer work on Fulton Street to support the utility.
A motion to approve the change was made by Alder Haney (mover recorded in the transcript) and seconded by Alder Gisselman; the committee approved the change by voice vote. The transcript records the motion "carries." Staff will implement the budget reallocation to match bid results and TID funding needs.
