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Port Edwards staff urge completing 2nd Street TIF work this year; propose temporary water‑fund loan
Summary
Public-works staff told the committee that aging pipes and a recent water-main break favor finishing the south end of the 2nd Street TIF project this year. Staff proposed the TIF borrow from the water utility reserve (described in the meeting as about $845,000) for up to two years and repay with TIF revenues; a resolution to permit the financing step went to finance committees, and a CDBG grant application for the north end is due in May.
Ben Tigaroy, Department of Public Works, urged the committee to complete the 2nd Street reconstruction on the south end (from Edwards to the Mispel Building) this year, citing aging 1960s pipes and a recent water-main break that raised the likelihood of a larger winter failure.
"There's some concerns to me that we should just get this project done this year and not put off another year," Tigaroy said, arguing delays could lead to more expensive emergency repairs.
Tigaroy described a short-term financing plan: using Tax Increment Financing (TIF) to borrow from the water utility's reserve for well and tower projects (the reserve was cited in the meeting as approximately $845,000), charging interest, and repaying the utility over two years from TIF receipts. He said the FHR committee received a resolution to authorize that borrowing step — a procedural approval to allow the village to use that financing approach if needed — and emphasized the action is not a commitment to start the project until the village takes a future formal motion.
On the north end of 2nd Street, Tigaroy said staff plan to apply for a Community Development Block Grant (CDBG) with an application due in May; the committee passed a resolution to proceed with the application process, not to accept the grant. If the village receives a CDBG award (decisions expected in June–July, per staff statement), the board would return with a full motion to accept funds and any required borrowing to cover matching obligations.
Tigaroy said he will prepare a full breakdown of project phases, costs and timelines for review at a future meeting. The committee did not authorize construction during the session; it directed staff to continue working with finance committees and to return with formal motions should grant awards or borrowing be confirmed.
