FDL City Council Approves TID Extensions
Four resolutions, extending four different TID (Tax Incremental Districts) within the City of Fond du Lac, were approved Wednesday night at the City Council meeting.
The extensions would run through at least the end of 2022, and allow the city to transfer increments into the Affordable Housing Fund.
Tracy Salter, Director of Administration for the City of Fond du Lac, said all four districts had been beneficial to the city, including TID 18, officially known as the Winnebago Conference Center, but better recognized as the Radisson Hotel and Conference Center.
“This TID was created in 2014, and it has been a very successful TID for us(the City of Fond du Lac). We estimate that the increment that will be transferred to the Affordable Housing Fund will be approximately $232,000.”
Salter said the funds from the districts would be transferred in 2023, affecting the 2023 assessment rolls, but assisting the 2024 City Budget.
Based on the numbers presented Wednesday, there will be about $782,000 in incremental dollars transferred into the Affordable Housing Fund.
City Council approved each of the four extensions on 6-0 votes.