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Board agrees to buy former bank at 718 Wisconsin Avenue for $100,000 using TID funds
Summary
After inspections, Administrator Nick Leonard recommended purchasing the former bank at 718 Wisconsin Avenue for $100,000; the board approved the purchase to be funded from Tax Increment District #2 funds.
Administrator Nick Leonard reported the Village held an option on the former bank at 718 Wisconsin Avenue, said inspections were completed, and recommended exercising the option to purchase the building for the contract price of $100,000. Leonard proposed using Tax Increment District #2 (TID #2) funds for the acquisition.
Trustee Chuck Hornung moved to approve the purchase, Trustee Mike Will seconded, and the board voted unanimously to acquire the property using TID #2 funds. The transcript does not specify intended uses for the building; those details were not provided at the meeting.
