[{"_1":2,"_86":-5,"_87":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,74],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},"mediaId",6099210,"mediaKeyId","2820601-762ce7491d3571e67dc0aa809bca81ac","parentId",2820601,"title","Finance advisor outlines plan for up to $3.335 million general-obligation notes; board reviews timing and tax impacts","audioSeconds",376,"startMs",229000,"endMs",605000,"viewUrl","/Search/View?dp=1&key=2820601-762ce7491d3571e67dc0aa809bca81ac&start=229&end=605","thumbnailUrl","https://assets.pipeline.soar.com/2820601-762ce7491d3571e67dc0aa809bca81ac/thumbnail_229000.jpg","articleUrl","/articles/6099210/Cottage-Grove/Dane-County/Wisconsin/Finance-advisor-outlines-plan-for-up-to-3335-million-general-obligation-notes-board-reviews-timing-and-tax-impacts","mediaUrl","https://secure.pipeline.soar.com/6099210-c437bdfc7538237c432e0bef54a3bd56/orig.mp4?Expires=1770999870&Signature=iuLT5jygJ1CfTjONKdvucYr8Y48xo9XdNEf0WN7AWy9UU05LD3AbNbPVO~3s743~2ItNmU7Ul6M0txmThpcxLz5-hug07wxENm7jmea1K6dPNdD31-rbBsqUjEIBWej3K0VPB2T5wDaywHVqG~KttRbt6MVq-RWiTS5M-Zr4hv1dg9h-sj2c2bJETrQ2vwqggfZGj3u5FTP3qAS8mAVcRvBCxNcdC0jXljHR~E4nsvdHHCJ71eZLX75Hj0ijFhj~-5zTp0E7ZCWMk6b-Uv8KfwIwHw0W-j3xxrKrueERzti7bmx1r2J-v8h3137X9Mb~9BZDgN4aJaNZ9maDXxShWg__&Key-Pair-Id=KUT5TJCACFTXG","author","","date","2025-03-30T04:05:00.563Z","article","Village finance advisor Harry presented a presale review on March 18 of a parameters resolution authorizing the sale of general obligation promissory notes not to exceed $3,335,000 to fund village projects in 2025.

Harry outlined a timeline: a rating call with S&P scheduled for the following Monday, distribution of the official statement around April 2, an anticipated bond sale on April 9 and funds available to the village on May 1. He said the official statement distribution is being timed to reflect the outcome of an upcoming referendum so the market receives current financial information.

The advisor described how the proposed issuance would be allocated: about $950,000 of shorter-life levy-supported projects amortized over five years; roughly $1,100,000 of longer-life levy-supported assets amortized over 10 years; about $600,000 for police projects amortized over a longer term; approximately $465,000 for water utility installations amortized over 10 years; and about $70,000 each for water and sewer equipment amortized over five years. After issuance costs and assumed interest earnings during the spend-down period, the issuance size reached $3,335,000 in the presentation.

Harry warned that the model assumes a library referendum passes and the library is built; that assumption affects near-term debt-service levy projections. Under the library assumption, the debt-service levy was shown at about $1.6 million for 2025 and stepping up to roughly $2.27 million in 2026, with a further increase to about $2.4 million in 2026 noted in the presentation. The presentation also included a projection showing higher debt-service levy levels in later years and a peak utilization percentage of the village's general-obligation debt capacity under the state's 5% equalized-value limit; the presenter gave those capacity percentages as examples tied to whether the library referendum passes.

Board members asked questions after the presentation; one trustee linked the bond/timing discussion back to the recently approved Hay Day developer agreement, asking whether the bike-path portion of that project affects the borrowing plan. The transcript records the advisor offering to take questions but does not show a vote on the parameters resolution during the provided excerpt.

Context: The parameters resolution would set bid-day constraints and authorize designated staff to award the sale on behalf of the board if bid conditions are met. The village's use of a general-obligation pledge was presented as a way to access lower financing costs by combining levy-supported and utility projects under a single issuance.","mediaType","Video","parentTitle","3/18/2025 Village Board pt. 1","oneSentenceSummary","Village finance advisor presented a parameters resolution and timetable for selling up to $3,335,000 in general obligation promissory notes to fund 2025 projects, detailed project allocations, amortization periods and projections for the village debt-service levy and GEO capacity; no formal vote on the resolution appears in the transcript.","taxTitle","Cottage Grove, Dane County, Wisconsin","taxId",72712,"location","headline","shortSummary",{"_33":75,"_35":36,"_37":38,"_39":76,"_41":77,"_43":78,"_45":79,"_47":80,"_49":81,"_51":82,"_53":83,"_55":56,"_57":58,"_59":84,"_61":62,"_63":64,"_65":85,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6099214,"Village Board approves Hay Day developer agreement requiring public improvements and 120% security",94,99000,193000,"/Search/View?dp=1&key=2820601-762ce7491d3571e67dc0aa809bca81ac&start=99&end=193","https://assets.pipeline.soar.com/2820601-762ce7491d3571e67dc0aa809bca81ac/thumbnail_99000.jpg","/articles/6099214/Cottage-Grove/Dane-County/Wisconsin/Village-Board-approves-Hay-Day-developer-agreement-requiring-public-improvements-and-120-security","https://secure.pipeline.soar.com/6099214-2f1f9d584321f265f13ae7005112229d/orig.mp4?Expires=1770999870&Signature=mc8GOYYWcLJQXjcIWaxbJiizv6mAU2GDLK99LSMZ8tm~6eLJJenW8wwxHm7cUZzwt22K8kJWj7rco~oqElYm3kadfVzm72VNBj3SrWQznhBrudJTAyTl4I-GpfcfYHS~id-hOB41m-pAw--jAItqn5WVbxVbrHHX7cH9S7UG-~c4LGCyFcoP3KyLMJ3MtdNf1qKvcse5EYvOAT7CsBPxJKMkC0jtn8mQUhdLIGV-FuwDbImLi7HuS6DTAmfdNTe~u43JgpgeyLXUdlTuDR88nrLLm03fkQ8pZ9-oNssgQDUclrquLB2pKU3bif6lV5IklNZGs2bcw2lu5Uws7xVfHQ__&Key-Pair-Id=KUT5TJCACFTXG","The Village Board of Trustees of Cottage Grove on March 18 approved a development agreement with C.R. Cottage Grove Land LLC for the Hay Day multifamily project, requiring the developer to install public improvements and provide financial security equal to 120% of the improvement cost.

The agreement, presented at the village hall and on Zoom, requires installation of a street extension, sewer, water and completion of a multiuse path within the development. The village presented the requirement that the developer provide either a letter of credit or a bond for 120% of the estimated public-improvement costs to allow the village to complete the work if the developer does not.

Village staff described the agreement as a standard public-improvement/developer agreement similar to prior multifamily projects and said the developer has already received the village's zoning approvals. One contingency noted in the presentation is that the developer must file a petition to vacate a portion of Fundamental Way before certain work proceeds.

Board members moved and seconded approval during the meeting; the motion was carried by voice vote. The meeting record does not include a roll-call tally for the approval.

Votes at a glance

- Motion to approve minutes of the March 3 village board meeting — approved by voice vote; tally not specified in the transcript.
- Motion to approve the development agreement with C.R. Cottage Grove Land LLC (Hay Day) as presented — approved by voice vote; tally not specified in the transcript.

Context: The agreement places responsibility for constructing and securing public infrastructure with the developer rather than providing a financial incentive from the village. The 120% security requirement is intended to protect the village if contract work is not completed.","The Cottage Grove Village Board on March 18 approved a development agreement with C.R. Cottage Grove Land LLC (Hay Day) that requires installation of streets, sewer, water, a multiuse path and a 120% letter of credit or bond to secure public improvements.","actionData","errors"]

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Finance advisor outlines plan for up to $3.335 million general-obligation notes; board reviews timing and tax impacts

Village Board approves Hay Day developer agreement requiring public improvements and 120% security