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Finance committee extends TID 7 for one year, reviews TID 6 closeout
Summary
Wausau's finance committee voted to extend Tax Increment District No. 7 for one year under option 3 to capture an affordable‑housing increment and reviewed the formal closeout accounting for TID No. 6, which generated roughly $1.4 million to distribute among taxing jurisdictions.
The Wausau Finance Committee on Dec. 9 voted to extend Tax Increment District (TID) No. 7 for one year to capture an affordable‑housing increment and to use the resulting funds in the 2027 budget under staff's option 3.
Finance staff explained option 3 would leave the TID open one additional year, yielding a $355,000 increment available for the 2027 general fund without creating reserves issues. Committee members compared that figure to the roughly $424,000 the city would realize if the district were closed now; the difference reflects state pilot and personal‑property/computer aid adjustments that would continue to flow to overlapping jurisdictions. Finance staff said the city still receives state aids such as computer aid and personal property aid and explained those differences during questions.
The committee also received a required closeout audit for TID No. 6. Staff said the closing year produced about $1.4 million to be distributed: Marathon County $257,000; NTC $75,000; Wausau School District a little over $470,000; and roughly $595,000 retained by the city. Staff reviewed major capital projects supported by the district, including Thomas Street reconstruction, sections of First Avenue and other road and trail improvements on the west side.
Alder Paul Greiner and others pressed staff for clarification on the accounting and the aid calculations; the committee approved the extension on a motion by Alder Watson with one recorded opponent (Alder Tierney).
