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Wausau committee approves limited waiver of right of first refusal for 130 N. 1st St. sale
Summary
The committee approved a memorandum of understanding and a limited waiver of the city's right of first refusal tied to a commercial rehabilitation loan for 130 North 1st Street, intended to address lender concerns about foreclosure remedies; staff said the waiver applies only to the current buyer and lender.
The Wausau Economic Development Committee on Jan. 6 approved a memorandum of understanding and a limited waiver of the city's right of first refusal for the sale of 130 North 1st Street, responding to a lender request intended to remove an obstacle to financing.
City staff explained that the building had received a commercial rehabilitation loan and that the…
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