Germantown board approves nearly $14.2 million in notes, removes Grosnick reimbursement

The Village of Germantown Village Board voted to approve two financing measures on parameters for 2025 borrowings: a taxable issuance not to exceed $9,980,000 and a tax-exempt issuance not to exceed $4,165,000 to fund Village Center property acquisitions, demolition and routine capital projects. The board amended the taxable issue to remove $1,170,000 that had been included to reimburse the village for the Grosnick property purchase.

The action matters because the issuances would finance property acquisitions and other approved capital projects and because some of the purchases tie to the Village Center planning effort that could later be part of a tax increment financing (TID) plan. Financial adviser Phil Casa of Ehlers told the board the two-part structure splits taxable borrowing for land that may be sold to private buyers from tax-exempt borrowing for standard…