NOW:53146:USA01489
http://widgets.journalinteractive.com/cache/JIResponseCacher.ashx?duration=5&url=http%3A%2F%2Fdata.wp.myweather.net%2FeWxII%2F%3Fdata%3D*USA01489
45°
H 45° L 45°
Cloudy | 6MPH

$3.5 million in incentives proposed for Woodman's in Waukesha

Sept. 19, 2011

Waukesha - Woodman's Food Market, which has announced plans to build a grocery store on the vacant Spancrete Industries Inc. site at Highway 164 and E. Main St., will get up to $3.5 million in financial incentives from the city under a package unanimously recommended Monday by the city's Redevelopment Authority.

A proposed tax incremental financing plan states that Woodman's would develop a 243,753-square-foot grocery store and create 219 full- and part-time jobs, adding $15 million to the city's tax base when finished.

A public hearing will be held at 6:30 p.m. Oct. 12 at City Hall before the Plan Commission to seek approval of the proposed tax increment district and project plans. Approval of a Joint Review Board of other government representatives must also be obtained.

The Common Council is expected to act on a rezoning request for the project, changing the land use from industrial to commercial, at its Oct. 4 meeting.

In a letter to Common Council members, Community Development Director Steven Crandell said the tax incremental financing plan will provide incentives for redevelopment of a blighted area.

In justifying the incentives, the plan says that commercial growth in Waukesha has come to a near standstill. In addition, it says that redevelopment of the no-longer used industrial site is much more costly than development on virgin land.

Spancrete Industries, which manufactures large concrete panels, closed its facility on Main St. last November.

Woodman's, a Janesville-based employee-owned retail grocer, would occupy about 19 acres of the 34-acre site, along with a gas station. About a half-dozen out lots of about an acre or two would be developed separately.

The property is adjacent to a Pick 'n Save grocery store.

The tax incremental financing plan lists some extraordinary costs that, if left to Woodman's to pay entirely, would make it unfeasible.

Those include $1 million to $1.2 million for demolition of an existing shuttered Spancrete concrete plane casting facility, $200,000 to $250,000 in city-required architectural upgrade to the Woodman's building, $150,000 to $200,000 in site preparation, $125,000 to $150,000 in environmental testing, $400,000 to $600,000 for off-site infrastructure improvements and $3 million to $4 million in land acquisition costs.

Tax incremental financing allows municipalities to use property taxes generated by new or improved property to pay for the public improvements that attracted the new development. Until the project costs are paid off, up to a maximum of nearly 30 years, the added tax base from the development is not shared with overlying taxing districts, such as the county, school and technical school districts.

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Suburban News Roundup

E-mail Newsletter

Your link to the biggest stories in the suburbs delivered Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.

Community Watch

» Waukesha North Marching Band captures eighth straight state championship 10/20

» Comedian Frank Caliendo to perform at halftime of Bucks' home opener 10/20

» Across Wisconsin, uneven property assessments fly in the face of fairness Updated:  10/19

» Catholic Memorial's win over Waukesha West ensures crazy four-team tie for Classic 8 title 10/17

» Preps football photos of the week: Week 9 10/17

» Waukesha North going for its eighth straight state band title 10/17

» Bill Mitchell returns to Waukesha County Board 10/16

» Waukesha man sentenced for threatening New Jersey judge 10/15

» Crews clear crash that closed westbound lane of I-94 in Waukesha County Updated:  10/15

» Waukesha Police Report: Oct. 16, 2014 issue 10/15

» Waukesha County chairman's salary could be cut in half 10/14

» Mukwonago football team lands huge victory over Catholic Memorial 10/11

» Preps football photos of the week: Week 8 10/10

» Prairie Home Cemetery hosts Puppy Prance on Saturday 10/10

» Waukesha Police Report: Oct. 9, 2014 issue 10/9

» Submit election letters now: deadline is Oct. 20 10/9

» Kitchen fire sends one to hospital in Waukesha 10/8

» Accident at Meadowbrook and Silvernail in Waukesha 10/7

» Waukesha's Common Council denies New Berlin's request for its fire services 10/7

» Packed Waukesha courtroom witnesses Wisconsin Supreme Court at work Updated:  10/7

» Waukesha woman, 31, charged in death of 2-year-old girl Updated:  10/7

» Waukesha could give fire assistance to New Berlin 10/7

» Toddler's death under investigation in Waukesha 10/6

» Waukesha woman charged with homicide in death of 2-year-old girl 10/6

» Dick Richards, former owner of Country Inn Hotel, has died Updated:  10/6

View All Posts Got a tip? Welcome rss
Deal Watch - Milwaukee

Milwaukee's Best Discounts & Deals

Advertisement

Local Business Directory

CONNECT    

What's Happening NOW

WaukeshaNOW.com and the Waukesha & Pewaukee Visitors Bureau are teaming up to provide you with an online calendar of community events and attractions. E-mail us to learn how to submit an event.