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1 Finance Committee - March 17, 2026 City of Oconomowoc Finance Committee Meeting Minutes March 17, 2026 - 6:10 PM Aldermen Present: Karen Spiegelberg, Charles Schellpeper, Rusty McConnell Also Present: Robert Magnus, Matt Mulder, Erik Jungwirth, Matt Rosek, Jennifer Aultman Kloth, Mark Frye, Gina Kozlik, Eric Boettcher, Robert Duffy, Jason Gallo, James Pfister, Tim Reel, Steve Hatton Chairman Spiegelberg called the Finance Committee Meeting to order and appropriate meeting notice was confirmed at 6:10 PM. Committee Business a. Review/Discuss Vouchers 1. Monthly Voucher Report - February 2026 The Vouchers were reviewed and approved as presented. b. Consider/recommend Resolution 26-R3344 Approving Tax Incremental District #4 Affordable Housing Extension for TID 4 Finance Director Hatton reviewed the history of accomplishments of TID#4 during its life and provided a PowerPoint with explanation on how TIF value grows. Hatton explained the opportunity for a one-year extension prior to closing the TID for Affordable Housing use in some manner that might include sewer infrastructure or other programs such as loan programs to upgrade existing housing stock. Hatton also confirmed the dollars that would be available for use. Spiegelberg thought this would be appropriate to move to Council for full discussion and there was committee agreement. c. Consider/recommend Resolution 26-R3345 to Terminate Tax Increment District # 4 Motion to recommend Resolution 26-R3345 to terminate TID #4 made by Schellpeper and seconded by McConnell. Motion carried 3-0-0. d. Consider/recommend Property Tax Refund Due to Assessment Error Hatton explained the portions that were paid to the other jurisdictions would be charged back after the refund. There was agreement it should be done so the taxpayer would not have to wait for the refund. Motion to recommend property tax refund due to assessment error made by McConnell and seconded by Schellpeper. Motion carried 3-0-0. e. Consider/recommend Resolution 26-R3356 Approving Bridge Loan to the Oconomowoc Historical Society Justin Agar-Platt, Director of the Oconomowoc Area Historical Society, explained that their campaign goal was to raise $1 million dollars. He said right now they have commitments and cash-on-hand of approximately $600,000, but they have had larger donors asking if they can give multi-year gifts and want to allow them that opportunity and still start work on the project. Justin explained they tried to go to the financial institutions to fill the gap, but the difficulty they had was 2 Finance Committee - March 17, 2026 they do not technically own the property. Rosek asked if that included the $150k pledge from the City and it was included. There were concerns adding a bridge loan and the City protection if the funds were not raised and the project started. The committee was in favor of revisiting this in 60 days to see if a greater amount of fundraising could be achieved. Spiegelberg was in favor of more time, Schellpeper thought they could set an achievable number before coming back that would lower the loan. Mulder thought this should go to the wider audience of Council and Spiegelberg agreed. This item moved to Council with no recommendation for further discussion. Adjourn Motion to adjourn made by McConnell and seconded by Schellpeper. Motion carried 3-0-0. The meeting adjourned at 6:48 PM. Minutes taken by Gina Kozlik, City Clerk Alderman Schellpeper, Secretary