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Board discusses using TID funds for Wisconsin Avenue project; DOR error on TID equalized value noted
Summary
Frederic officials reviewed funding options for the Wisconsin Avenue Project, including a board discussion about using TID funds to reduce loan size; staff also reported a Department of Revenue equalized-value error affecting the village TID and 2025/2026 payments.
Village staff reviewed funding options for the Wisconsin Avenue Project and flagged potential use of Tax Increment District (TID) funds to reduce the loan amount and future loan payments. Kianna Lindh (MSA) reviewed the funding and board members discussed the option; no formal decision was made at the Aug. 11 meeting.
Lindh also reported a Department of Revenue (DOR) error regarding the ratio for assessed value in the village TID. The minutes state the village will receive more information from DOR on how the error will affect 2025/2026 payments; no financial impact figures were provided during the meeting.
