(Mayville) Mayville will be seeing a payback following the closure of a TIF district. The city will receive a one-time payment of roughly $150,000 from the excess funds from TIF #3. The city council voted to close the tax increment financing district which had surrounded the north industrial park, Mayville High School and a nearby subdivision last year. It was established in 1997 and was renewed twice over its lifespan.
Mayor Rob Boelk says Moraine Park, Dodge County and the Mayville School District will also receive their own share of the leftover funds. During this week’s Finance Committee meeting, Boelk offered a few suggestions on how the city could use their funds including putting roughly $50,000 towards failing TIF #4, which surrounds Mayville Engineering Company, would help get it (quote) “up to speed.” He also suggests replenishing the landfill attorney fund as well as the employee payout fund.
Boelk says the money could also help if Mayville or its residents ever needed to apply for FEMA or state aid following a disaster. He says before someone can receive aid they must fill out a form that carry’s a surcharge of around $3.35 that the city most pay up front.
Boelk says the city should receive the money before the end of the year which would require amending the 2019 budget. The city council will have the final vote on how Mayville allocates the funds.