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Wausau finance panel accepts $250,000 forgivable loan for MBX site amid debate over 3‑year term
Summary
The Wausau Finance Committee approved a $250,000 forgivable loan from the Judd S. Alexander Foundation to support redevelopment of the former MBX site at 201 N. 1st Ave. Members debated the loan's three‑year progress requirement and possible interest penalties if the project does not advance.
The Wausau Finance Committee voted Dec. 9 to accept a $250,000 forgivable loan from the Judd S. Alexander Foundation to aid redevelopment of the former MBX property at 201 North 1st Avenue.
Mayor (unnamed) urged the committee to accept the gift, saying the loan "in no way commits the city to any particular redevelopment outcome" and praising the foundation's long history of local investment. Staff described the agreement as a $250,000 forgivable loan with 0% interest for the first three years and an…
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