Development News for Wausau, Wisconsin

Wasa Council Moves to Release Easements with Canadian National Railway

The city council is seeking to release easements and reserved interests in property held by Canadian National Railway Company. This action is part of cleaning up prior encumbrances on city property, similar to a previous quick claim deed process. CN has been cooperative, but there is a $5,000 fee associated with releasing the easement. The attorney's office has led the process. The committee approved the motion to release the easement.

Wasa Committee Approves Residential Infill Program for East Thomas Street Parcels After No RFI Responses

The committee reviewed a request for interest (RFI) for three parcels on East Thomas Street (206, 212, 226-230). No responses were received for the initial RFI. The proposed hybrid approach involves following the city's independent single-family residential infill parcel process, including neighborhood feedback, newspaper postings, and a 30-day waiting period before potentially becoming an open RFP if no responses are received. A motion to direct the parcels to be disposed of through the city's residential infill property disposition program was approved.

Wasa Committee Advances Eminent Development Corporation's Mixed-Use Project on North Second Street

Eminent Development Corporation proposed a mixed-use project for North Second Street, including a four-story apartment building with 45-60 units and ground-floor parking, plus a separate commercial building. The project aims to include a mix of workforce and market-rate housing, with a preliminary split leaning towards market rate. Financing is being explored through a USDA RD538 loan, private equity, developer investment, and potentially Tax Incremental Financing (TIF) from TID 12. The committee voted to instruct staff to continue communication with the developer towards a term sheet and provide site access for due diligence.

Wasa Economic Development Committee Reviews and Considers Updating Committee Description

The Economic Development Committee discussed the official description of their duties as listed on the city website, noting that its origins are unknown and may date back to 1964. The committee also explored updating this description to better reflect current economic development strategies, which have shifted from solely focusing on attracting new industries to a broader approach including workforce development and housing needs. The committee agreed to add updating the description to a future agenda.