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East Troy approves $2 million taxable notes to finish TID projects; board also signs off on ordinances and TAP grant support
Summary
The Village Board of East Troy approved a resolution to offer approximately $2,000,000 in taxable general obligation promissory notes to finance remaining Tax Increment District projects, and also approved two zoning changes and a resolution supporting a WISDOT TAP grant application.
The Village Board of East Troy approved a resolution to offer approximately $2,000,000 in taxable general obligation promissory notes (Series 2025 B) to finance remaining Tax Increment District (TID) projects, including construction of a road and retention pond in the village business park.
Village finance presenters told the board the financing is structured to ease the TID’s cash flow: principal payments are minimal in the first two years, then increase as TID revenues improve. The presenter said projected annual cash flow becomes positive after 2025 and that sale-day interest rates could change the final numbers. The board approved the resolution by voice vote; the transcript did not record a roll-call tally.
The financing package as presented includes a $150,000 interfund advance the village is treating as short-term borrowing to the TID; staff noted the advance could…
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