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Plan Commission forwards TID 8 amendment adding land-assembly and river-trail projects
Summary
Plan Commission forwarded Project Plan Amendment No. 5 for Tax Increment District No. 8 to add land-assembly costs for parcels on the west side of the river to enable redevelopment, River Edge Trail extension and cleanup of riverfront properties.
The Wausau Plan Commission voted to forward Project Plan Amendment No. 5 for Tax Increment District No. 8, adding land-assembly costs for two parcels on the west side of the river immediately adjacent to TID 8.
Mary Anne (finance staff) described the parcels as strategic for redevelopment and for extending the River Edge Trail. She said the city has worked with the owner for years to obtain easements and that constructing the trail on the embankment would be costly — potentially comparable to the property cost — so including land-assembly funds in the TID gives the city flexibility for redevelopment and trail alignment.
Mary Anne said the properties are near Marathon Box and River Life Park; the city has invested in moving industries away from the river to improve riverfront conditions. The Plan Commission adopted a resolution forwarding the amendment to the Common Council.
