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Wausau committee tables 20-year Foundry on 3rd parking lease after debate over discount, notice
Summary
The City of Wausau Economic Development Committee voted to table consideration of a proposed 20-year parking lease with Foundry on 3rd after members raised concerns about a 20% discount, a 24-month termination notice and insurance/maintenance terms. Staff will revise the draft and return next month.
The City of Wausau Economic Development Committee on Jan. 7 voted to table consideration of a proposed 20-year parking lease with Foundry on 3rd, directing staff to revise several contract terms and return the item next month.
Committee members had debated a draft agreement that would reserve 100 unreserved stalls on the third floor of the downtown parking ramp for Foundry on 3rd and offer a 20% discount off the city's standard monthly permit rate. The lease would begin Dec. 1, 2025, and run for 20 years or until the parking facility is terminated.
The discussion centered on three recurring concerns: the 20% discount; the required 24-month notice the city must give if it ceases parking operations; and several liability and operational clauses in the contract.
Alder Killian said she opposed the proposed discount, arguing the developer has already received…
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