City Council approves funds for Adaptive Communities' purchase of 607 Washington Street

The Wausau Joint Finance and Human Resources Committee convened on April 8, 2025, to address several key agenda items, including funding allocations and community development initiatives. The meeting began with a discussion regarding the funding sources for ongoing utility projects. Alder McElhinney raised questions about the budgeted amounts, leading to clarifications that the majority of funding would come from project savings and investment income, rather than additional borrowing. This was confirmed as a positive outcome, alleviating any potential burden on the city’s levy.

Following this, the committee moved to item four on the agenda, which involved a proposal to reprogram community development revolving loan funds to assist Adaptive Communities in purchasing a building located at 607 Washington Street, previously known as the Presto Prince Building. Tammy Strats presented the request, highlighting that Adaptive Communities had an accepted offer and was seeking financial assistance for both the purchase and necessary renovations to expand their services.

The committee discussed the nature of the funding, confirming that it would be structured as a forgivable loan with a 15-year term, contingent upon Adaptive Communities maintaining their nonprofit status. Alder MacLean inquired about the organization’s fee structure for services, emphasizing the importance of affordability for all potential clients. Strats assured the committee that they strive to keep services accessible, utilizing grants to support those without long-term care funding.

The committee expressed enthusiasm for the project, noting the building's strategic location and accessibility. After addressing all questions and concerns, the committee proceeded to a vote, which resulted in unanimous approval for the reprogramming of the funds.

In conclusion, the meeting underscored the committee's commitment to supporting community development initiatives while ensuring fiscal responsibility. The next steps will involve finalizing the loan agreement with Adaptive Communities, paving the way for their expansion and continued service to the community.