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Committee explores early payoff of TID 3 financing; staff to bring numbers to board
Summary
Committee members discussed using TID 3 fund balance to call and retire the 2014A financing early, potentially saving interest and allowing the TID to close in 2027, but members asked staff and Ehlers to confirm tax‑increment receipts, callable terms and water/sewer revenue bond constraints before any action.
Members of the Village of Cross Plains Finance Advisory and Enhancement Committee discussed a plan on Nov. 5, 2025 to accelerate repayment of Tax Incremental District (TID) 3 debt, with the goal of reducing interest expense and closing the district earlier than currently projected.
Committee member Michael Polmikowski outlined a proposed one‑time payoff of the 2014A financing that would require roughly $825,000 in principal plus near‑term interest to retire the callable portion of the issue and significantly reduce future annual debt service. Polmikowski said TID cash balances and…
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