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Committee asks for more detail and sends PFA taxable-conduit consent to full board
Summary
Committee reviewed a late request asking Marathon County to consent to use the Public Finance Authority (PFA) for taxable conduit financing for projects in Wausau and Rothschild and voted to place the consent request on the county board agenda while asking for additional project details.
Committee members reviewed a late application from a borrower seeking county consent to use the Public Finance Authority (PFA) for taxable conduit financing for projects located in the City of Wausau and the Village of Rothschild.
Administrator Leonard read the applicant's summary: funds would be used to acquire and renovate several downtown Wausau assets (mixed-use residential and retail) and to refinance and redevelop an existing hotel and waterpark site in Rothschild into a DoubleTree by Hilton branded hotel with a convention center. The applicant asserted the project will increase property and sales tax revenue and create construction and tenant jobs.
Staff emphasized the county would not be liable for principal or interest on PFA conduit debt. Several supervisors said they wanted more detail on the project scope and impacts, particularly for the downtown Wausau properties, before acting. The committee voted to move the request to the full county board agenda so the board can review more information and decide whether to grant consent. Staff will obtain additional project materials for the county board and committee to review before the board's July meeting.
