Wausau Joint Finance and Economic Development Meeting Pt.2 - 6/9/26

The City of Wausau held a joint Finance and Economic Development Committee meeting on June 9, 2026, primarily focused on reviewing the annual reports for the city's tax increment districts (TIDs). Finance Director Maryanne Gro presented detailed financial updates on multiple TIDs, including fund balances, outstanding debts, developer agreements, and ongoing or planned capital projects such as demolition, utility relocation, and street improvements. The discussion highlighted the financial health of the districts, the impact of state levy limit laws on increment usage, and the strategic use of TID funds to support redevelopment and infrastructure projects. Additionally, representatives from Wangard Properties presented their proposal for a downtown riverfront redevelopment project involving 143 market-rate multifamily units, including environmental remediation costs estimated at $2 million to be borne by the developer. The meeting concluded with motions passed to enter closed session for negotiating a term sheet related to the development project on city-owned property at 920 North First Street and 15 Fulton Street.