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Consideration of Wauwatosa Village Business Improvement District Operating Plan, Budget and Proposed Assessments
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Submitted by:
John Ruggini, Finance Director on behalf of the Business Improvement Districts
Department:
Finance
A. Issue
Annual approval of the Wauwatosa Village Business Improvement District 2027 Operating Plan, Budget and Proposed Assessments for inclusion on the 2026 Property Tax Bills for affected properties
B. Background/Options
As required by municipal ordinance, the Village of Wauwatosa Business Improvement District (BID) has submitted their 2027 Operating Plans and Budget for approval. Representatives from the Business Improvement District will be available to provide an overview and answer any questions.
Approval of the Business Plan allows the City of Wauwatosa to add the BID special assessment to property tax bills of the businesses within the district. The Financial Affairs Committee only has the ability to approve or disapprove the Plan, as the Business Improvement District is a separate legal entity and their budget is approved by their own Board of Directors.
The Village BID is proposing the following assessment rates:
|
Total Assessment |
$0.38 |
|
Minimum |
None |
|
Maximum |
$4,500 |
|
Rate |
$78,712.40 |
C. Strategic Plan (Area of Focus)
Priority Area One: Economic Development and Financial Resilience
D. Fiscal Impact
No impact on the City of Wauwatosa’s budget
E. Recommendation
Approval of the Wauwatosa Village Business Improvement Districts’ 2027 Operating Plan, Budget and Proposed Assessments for inclusion on the 2026 Property Tax Bills for affected properties