Neillsville City Council Approves Refinancing of Two TIF Districts
Thursday, July 14th, 2016 -- 9:07 AM
-The Neillsville City Council approved the refinancing of two of the city’s TIF Districts.The city will make the next payment in October on TIF District 2 and then they will refinance the $245,000 remaining on the district. This district recently was labeled as distressed and the amount of time left on it extended to give the city a chance to recoup their money. They have at least 8 or 9 years before they are able to pay off the loan and then the remaining time will have the money come directly to the city. They are going to 4 local banks to have the district refinanced.
The council approved the same thing for TIF District 3. With this one, they will make the next payment and refinance the $848,000 remaining on the district. They will go to 4 local banks and they have 10 years left on the district. The council also approved $1,444 in donations towards the city’s hanging flower baskets. The donations pay for 32 of the 39 baskets the city has. They also approved a $300 donation from the Rotary Club to pay for the flowers around the clock by the Gazebo.
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