Oconomowoc committee reviews amendment to TID No. 7 to add parcels, expand eligible costs and extend cash‑flow projections

City of Oconomowoc officials and financial advisors presented and discussed a proposed amendment to Tax Incremental District No. 7 during the Committee of the Whole meeting on July 1, 2025. The amendment would add two parcels totaling 16.23 acres, increase eligible TID project costs by $24,136,000 and revise the district’s projected cash flows.

The change matters because the amendment is intended to capture incremental tax revenue from additional townhouse development and other projects inside the district to help pay existing and planned district obligations. “TIF is really our only tool to help facilitate development, from that perspective,” city staff member Bob Duffy told the committee.

Greg Johnson, identified in the meeting as “Greg Johnson from Eller’s,” summarized the amendment as a twofold action: a boundary amendment adding the parcels and added project cost authority for public infrastructure and development incentives. Johnson said the amendment assumes approximately $50.6 million of incremental value from Newman Development (including an estimated $10 million for the repurposed chalet called “the social”) and about $36 million of incremental value tied to Vanguard’s Elevate project. The two parcels proposed for addition are estimated to add $34.6 million of incremental value.

Johnson walked the committee through the cash‑flow…