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Committee approves 2025 budget change to fund street work from Tax Increment District 3
Summary
The Finance Committee approved reallocating or increasing 2025 funding through Tax Increment District 3 to cover higher‑than‑expected bids on several street improvement projects, and to fund water and sewer work on Fulton Street that was not originally proposed for TID funding.
The Wausau Finance Committee voted March 11 to approve changes to the 2025 budget of purpose to support street improvement projects from Tax Increment District 3 after engineering staff reported bid‑to‑estimate variances.
Engineering staff explained the city breaks project costs into water, wastewater, stormwater and road components. Some projects returned bids higher than estimates while others came in under estimates; staff proposed shifting additional TID 3 funding to cover shortfalls on specific projects, including Fulton Street.
Staff said the Fulton Street (Project B in the engineering spreadsheet) work requires additional funding from TID 3 and that staff also recommended the TID pay for water and sewer work on Fulton Street, which had not been originally proposed. Mary Anne prepared the narrative accompanying the spreadsheet, staff said.
A motion to approve the changes carried by voice vote.
Why it matters: Reallocating TID funds changes how development‑area incremental tax revenue is used and affects the mix of levy, utility, and TID funding for reconstruction projects. The change makes up for bid increases and shifts some utility costs onto the district.
Details: Staff pointed to a mix of cost overruns and savings across projects and said the proposed changes balance those variances; the committee approved the adjustments without recorded roll call.
