Dissolution is a savings when state dissolution aid is figured in, but the state has only had the aid program for two years, Weidemann said, and it has to be renewed every year.
“All that makes it a complicated equation that doesn’t affect everyone the same way,” he said. “None of this is simple.”
He said his firm is creating worksheets that village taxpayers can use to figure what they’ll pay in taxes and fees in the future versus what they pay under the village.
When the Village Board approves the dissolution plan, it goes to a public hearing within 90 days, then the village has 60 days after that to pass the final plan.
Once the final plan is OK’d, village residents have 45 days to petition a vote on the plan. If that vote fails, the village does not dissolve.
Holderman said they’ve considered using a management firm to guide them through dissolution. The estimated cost would be $20,000 to $25,000, and Weidemann said they could apply for a state grant for that service.
“I would immediately start looking for a firm,” he said. “Especially because you’ll need equipment and property appraisals.”
Holderman said if they sell some Department of Public Works equipment, the money could be used on village debt service.
“I don’t think we’ll have any debt when this is done. I think we’ll have paid that debt off.”
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