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Board member reports Village TID closed early, surplus to flow to New Glarus School District
Summary
A New Glarus School Board representative reported the village closed TID No. 3 early and approved a surplus distribution (the meeting record cited $45,000); the board discussed how the TID’s $45M–$55M incremental value could expand the local tax base and benefit the school district’s share of future revenue.
Travis, the district’s representative to the Village tax-increment district (TID) committee, told the New Glarus School Board that the village moved to close TID No. 3 earlier than scheduled and approved a surplus distribution to taxing jurisdictions. “The TID itself ended up with a surplus. So, basically, it ended, we approved the amount of $45,000,” Travis said during the report.
Travis described how the surplus and the larger valuation matter to the district’s…
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