The Wausau Finance Committee convened on September 29, 2025, to discuss critical budgetary matters, particularly focusing on funding for upcoming projects. The meeting highlighted the challenges faced in closing loans for significant infrastructure projects, with a total budget of $14 million for the current initiative.

Committee members expressed concerns about the timeline for securing loans, recalling difficulties experienced with a previous project that delayed closure until June. The current project is anticipated to be smoother, yet uncertainties remain due to the lack of firm numbers from the state. The budget breakdown revealed that $9 million of the total is allocated for private homeowner assistance, while $5 million is designated for utility improvements.

A notable aspect of the discussion was the potential for principal forgiveness, which could significantly reduce the financial burden on the city. For the private side, the city expects to receive $7.7 million in principal forgiveness, necessitating a loan of approximately $1.3 million. On the utility side, a million dollars in principal forgiveness is anticipated, alongside a revenue bond.

The committee acknowledged the urgency of finalizing these loans, especially with the state’s loan closing schedule becoming less active as the year progresses. There is concern that delays could push funding into 2026. Efforts are being made to expedite the process, with city officials actively engaging with state representatives.

Looking ahead, the committee also discussed a larger project for 2026, which involves an application for $20 million in funding. This project aims to address lead service line replacements, with expectations of substantial principal forgiveness based on community needs. The total project cost is projected at $40 million, with a significant portion anticipated to be covered by grants.

In conclusion, the meeting underscored the city's proactive approach to securing funding for essential infrastructure projects while navigating the complexities of state loan processes. The committee remains focused on advancing these initiatives to ensure timely completion and community safety.