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By Brandi Makuski
STEVENS POINT — City leaders on June 9 approved a set of capital planning guidelines aimed at helping Stevens Point manage debt responsibly while moving forward on major projects like Business 51 and the new city hall.
The plan, presented by Comptroller-Treasurer Corey Ladick, includes reducing the city’s annual road construction budget from $5 million to $3 million during the Business 51 reconstruction years, and spreading the tax impact of the $15 million city hall renovation over two years instead of one.
“With the cost of the Business 51 project, $5 million a year just isn’t feasible,” Ladick told the city’s finance committee. “Reducing that figure gives us more breathing room without halting necessary work.”
Mayor Mike Wiza said Business 51 should be viewed as a major infrastructure project—not a sign the city is cutting back.
“We’re not slashing the road budget—we’re just ‘focusing’ it,” Wiza said. “There are still plenty of miles that will be reconstructed as part of Business 51.”
District 1 Alderman Marc Christianson, who chairs the committee, called the recommendations “very thoughtful.”
“I appreciate you bringing it to us a month early so we had a chance to really look at it,” Christianson told Ladick. “These give us a solid roadmap, and they’re not set in stone. We can tweak them if we need to.”
District 3 Alderwoman Ginger Keymer moved to approve the guidelines, with a second from District 11 Alderman Keely Morrow. The motion passed unanimously.
In a follow-up interview on June 12, Wiza said the annual capital planning process is key to maintaining the city’s financial health—especially with large projects on the horizon.
“These are guidelines, but they’re more than just suggestions,” Wiza said. “They help us set priorities so we don’t overborrow.”
The city has historically capped annual capital borrowing at $7.5 million, though Wiza noted that cap was exceeded in recent years—by up to $2.5 million—causing debt to increase gradually.
“Would we love to pay more down? Sure,” Wiza said. “But that means raising taxes. So we’re trying to balance what we need with what people can afford.”
Wiza also said the planning is important to maintain Stevens Point’s AA1 credit rating—currently stronger than any surrounding municipality.
“If we cross our capital ceiling, we risk a downgrade,” he said. “Even then, we’d still be on par with our neighbors. But right now, we’re in better shape than they are, and we want to keep it that way.”
The planning framework sets the tone for upcoming budget talks later this year.
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