City agrees to apply for Idle Sites grant to support redevelopment of former Honeywell property on Business Highway 151
December 13, 2024 | Platteville, Grant County, Wisconsin
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City staff member Joe told the council that a Madison-area investor group purchased the property and plans building and site improvements. Under the WEDC program, the city must be the grantee; if awarded, the city would enter a development agreement and reimburse the property owner for eligible expenses up to $250,000, with the owner responsible for the required match.
Joe said the program is structured similarly to other city-administered reimbursement grants the city has used, and that staff would verify eligible invoices and receipts before reimbursement. Council members asked about the owners' development history and local ties; Joe said one owner has a son attending UW–Platteville but that the investors are primarily from the Madison area.
Councilmember Ken Killian moved to approve Resolution 24-22 authorizing submission of the grant application; Councilmember Todd Casper seconded. The council approved the resolution.
Staff said the grant is targeted at privately owned properties and that awarding funds to this project would count against allowable awards during the program period, but would not preclude city-owned property applications. The council asked staff to ensure a development agreement would specify eligible uses and reimbursement procedures.
Next steps include finalizing the application with consultant assistance and executing a development agreement if the grant is awarded.
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