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Wausau committee weighs one-year TID 7 extension to steer $1 million-plus toward affordable housing
Summary
Wausau’s finance committee reviewed options to extend Tax Increment District 7 for a year to dedicate roughly $1,000,010 in increment—75% of which state law requires be used for affordable housing—while weighing a one‑time transfer to address near‑term operating needs such as firefighters. The committee did not vote and asked for further review before council action.
Wausau’s Finance Committee on Nov. 25 reviewed whether to extend Tax Increment District 7 for one year to direct tax‑increment funds to affordable housing.
Staff told the committee that, under state law, a one‑year housing extension would make about $1,000,009.66 in incremental revenue available; staff estimated the City’s share at roughly $842,000, the Wausau School District’s share at about $665,000, Marathon County’s share at about $354,000 and North Central Technical College’s…
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