Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Oconomowoc council agrees to study one‑year TID extension to fund affordable housing, schedules resolution in two weeks
Summary
Council members heard a presentation on using a one‑year tax increment (TID 4) extension for affordable housing, received estimates that roughly $606,048 could be retained for housing versus about $218,125 flowing to the city if not extended, and voted to bring a resolution back in two weeks for formal action after further analysis.
City of Oconomowoc officials on March 3 agreed to bring back a resolution in two weeks to decide whether to use the one‑year affordable housing extension allowed under state TIF statutes for Tax Increment District (TID) 4.
Finance Director Steve Hatney told the council that TID 4 has reached the end of its life and must be closed; the governing body can choose whether to retain one year’s increment for an affordable housing extension. Consultant Phil Coulson explained the statutory framework, saying the extension is “a permitted method in this TIF statute” that currently allows only one year’s increment to be used, with 75%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
