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Committee approves $3.5 million short‑term loan to Wauwatosa School District over Froedtert settlement
Summary
The Wauwatosa Financial Affairs Committee voted 7–1 to recommend a short‑term promissory note of $3,502,031.13 to the Wauwatosa School District to cover its share of a Froedtert settlement chargeback, at an interest rate of about 4.5% and repayment by Nov. 13, 2026.
The Financial Affairs Committee on Tuesday recommended that the city lend the Wauwatosa School District $3,502,031.13 to cover the district’s share of a chargeback arising from the Froedtert Hospital settlement, approving the measure 7–1.
City staff told the committee the city paid Froedtert $10 million in the September 2025 settlement and has statutory authority to charge back the proportionate shares to taxing jurisdictions. “In September 2025, we paid Froedtert Hospital $10,000,000, which was the amount of the settlement,” a city official…
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