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Council rejects one-year TID 7 extension for affordable housing amid budget concerns
Summary
After extended debate, the Wausau Common Council voted down a one-year extension of Tax Increment District 7 to capture about $1.9 million for affordable housing (motion failed 5-6); members raised timing, impacts on schools and taxing jurisdictions, and alternative uses of reserves.
The Common Council debated and then rejected a finance/economic development committee proposal to extend Tax Increment District (TID) Number 7 for one year to capture about $1.9 million for affordable housing.
Opponents, including Alder Larson and Alder Rasmussen, said the city should let the TID close on time so the revenue returns to other taxing…
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