Cross Plains committee reviews purchases, approves minutes; discusses $300,000 TIF payoff and $16,500 parking‑lot share

The Village of Cross Plains Finance Advisory and Enhancement Committee accepted minutes from its Jan. 8 meeting, reviewed purchases and bid‑tabulation forms and discussed recent municipal payments including a one‑time $16,500 contribution toward a public parking lot and a $300,000 early payment on a tax‑increment financing (TIF) agreement for Milestone Senior Living.

In a short business vote the committee moved and seconded approval of the Jan. 8 minutes; the motion carried by voice vote. The meeting adjournment later in the agenda was similarly moved, seconded and approved.

Why it matters: The payments discussed affect the village’s near‑term cash flow and reserve planning. Committee members said the early TIF payoff was structured to limit future higher interest costs on the TIF and to enable earlier closure of the TIF district, and the parking‑lot payment represented the village’s agreed share to convert a private lot into public parking under a 10‑year agreement.

Key items discussed and clarifications: - Billing error: Committee members reported that a large water use line in recent bills, originally charged to sewer, has been identified as cooling water for a pump and will be undone; there will be no sewer charge for that water once corrected. - Parking lot payment: The village paid $16,500 as its one‑time half share for improving a parking lot west of a main building on Water Street (the invoice represented the village’s portion). The agreement is for 10 years; if the private owner reclaims the lot within 10 years the owner will repay the village a prorated share. - TIF early payoff: The village paid $300,000 on Jan. 2 toward the Milestone Senior Living TIF balance; committee discussion said the village agreed with Milestone to pay early to avoid a scheduled interest rate increase from approximately 4.5% to 7% and to close the pay‑as‑you‑go TIF sooner. Committee members discussed a second payment tentatively planned for July to finish the payoff; the exact balance remaining was described as “not specified” in the discussion and will be confirmed from the agreement. - Vehicle procurement: Committee members confirmed a previously purchased Ram truck was procured using a state contract price and that an internal purchase‑form had been completed for the record.

Votes at a glance: - Approval of Jan. 8, 2025 Finance Advisory and Enhancement Committee minutes — motion moved, seconded; outcome: approved (voice vote). - Motion to adjourn — moved, seconded; outcome: approved (voice vote).

Ending: Committee members had no further action on purchases; staff and members will follow up to confirm the remaining TIF payoff amount and to monitor any required repayments or prorations related to the parking lot agreement.