Kronenwetter Village Hall. MWC file photo.
A joint meeting of Wausau’s Economic Development and Finance Committees will examine options for the soon-to-close Tax Increment District 6 on Tuesday.
The district is set to close next year, but state law allows the city to funnel the increment to other projects for one year. That could include low-income housing or the upcoming lead service line replacement project.
Tax Increment Financing allows the city to keep a percentage of tax revenue from a neighborhood for projects specific to that neighborhood such as street repair, infrastructure, or building projects.
When the districts expire the entire tax value goes to the city’s general fund. To see more about the city’s options, click here. Tuesday’s meeting begins at 5:15 at City Hall.
The Village of Kronenwetter has also called a public forum for 5:45 Tuesday evening to discuss a pending increase in sewer rates coming down from the Rib Mountain Metropolitan Sewerage District.
The $150,000 increase is part of a planned $23 million upgrade to the wastewater treatment facility, which was built in 1985.
The forum begins at 5:45 PM at the Village Hall. For details regarding Tuesday’s forum click here.
WSAU News will have more on both of these stories Tuesday night.
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