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Hortonville board approves amendments to TID 4 and TID 5 to funnel funds into downtown reconstruction
Summary
The Village Board unanimously approved two resolutions to amend the TID 4 and TID 5 project plans, allowing surplus increment from TID 4 to be donated to TID 5 to fund downtown streetscape, trail and related projects without raising resident tax rates, officials said.
The Village of Hortonville on Monday approved linked amendments to two tax-incremental districts, a move planners said will shift existing increment to pay for downtown reconstruction without increasing property tax rates.
Speaker 3, the village staff presenter, told the board the amendment would allow surplus funds in TID 4 to be shared with TID 5 to fund downtown streetscaping, lighting and a planned trail behind Main Street. "So the plan is to send over what is not needed from TID 4 to TID 5 in order to fund the reconstruction of the downtown," Speaker 3 said. He estimated roughly $850,000 associated with the TID 4 area could be preserved and that TID 4 could donate about $1,700,000 to TID 5 over 10–15 years under the sharing plan.
Speaker 3 emphasized the change is an internal reallocation of increment rather than a new levy on residents. "This does not" affect tax rates, he said in response to questions about resident and business tax impacts, adding that without sharing the TID would close early and funds would be released to the county and school district rather than invested locally.
Board members asked about timing and project costs; Speaker 3 acknowledged cost estimates are preliminary and that additional capital improvements might require CIP funding or debt if TID funds are insufficient. The board subsequently approved resolution R-28-24 (TID 4 amendment) and R-29-24 (TID 5 amendment) on roll calls.
The amendments will extend the anticipated TID closure date with sharing in place and provide a revenue stream the village says is necessary to complete downtown streetscape and trail projects. The board voted to approve both resolutions after the presentation and discussion.
The next step is for staff to finalize the amended project plans and proceed with implementation planning and contractor selection for the downtown work.
