HomeMy WebLinkAboutRes 25-01 - Extend TID 13 - Four Year ExtensionJULY 28, 2025 25-01 RESOLUTION
(APPROVED_______LOST_______LAID OVER_______WITHDRAWN_______)
PURPOSE: APPROVE FOUR YEAR STANDARD EXTENSION FOR TAX
INCREMENTAL DISTRICT NO. 13
INITIATED BY: COMMUNITY DEVELOPMENT
WHEREAS, TID 13 was created by the City of Oshkosh on September 22, 1998,
with a statutory term ending on September 22, 2025; and
WHEREAS, the City of Oshkosh TID 13 is not expected to generate sufficient
revenue to recover its project costs within its maximum life; and
WHEREAS, under state law (Wis. Stats. sec. 66.1105(7)(am)(1)(3), a municipality
may request that the Joint Review Board (JRB) extend the life of a TID if the annual and
total amount of tax increments over the remaining life of the district are not expected to
generate sufficient revenue to recover its project costs.
TID Type: Blight – with creation resolution adopted between 10/1/95 and 9/30/04
allow for four additional years of TID increment.
WHEREAS, under state law (Wis. Stats. sec. 66.1105(7)(am), the municipality,
together with the extension request did not provide an independent audit but provided
sufficient documentation of the TID’s finances.
THEREFORE, BE IT RESOLVED, that the JRB hereby approves the extension of
TID 13 by an additional four years to September 22, 2029; and
BE IT FURTHER RESOLVED, that the City of Oshkosh Clerk shall notify the
Wisconsin Department of Revenue by providing a copy of this resolution.
Adopted this 28 day of July, 2025
Resolution introduced and adoption moved by JRB member ______________________
Motion for adoption seconded by JRB member _________________________
On roll call motion passed by a vote of _______ ayes to _______ nays
_____________________________________
Joint Review Board Chairperson Signature
ATTEST:
______________________________________
Diane Bartlett - City Clerk