New Life for Marshfield's Former KC Hall
Wednesday, November 14th, 2018 -- 8:06 AM
(WDLB) -The site of Marshfield's former K-C Hall is closer to getting new life.The Common Council voted last night to spend up to 15-thousand dollars for Madison-based Redevelopment Resources to help the city create a tax increment financing district for the three-and-a-half acre parcel at 400 West Upham Street. City Administrator Steve Barg says Redevelopment Resources will also help the city analyze any new developments proposed for the property.
"The city has, often times, has had to struggle in closed session with the idea of a company wanting X amount of money to make this work. You look at the financials, they give it all to you, here's what we got, here's what we're asking for, here's how much of our own money were putting in, here's how big the bank loan is. How do we decide what's there for them to ask for from us? So, as part of what this person does, this person is going to look at the project proposal and let the council know in closed session on what it's worth to the council in terms of tax revenue vs. what you're giving. They'll give an assessment that will help us determine what level of assistance might be warranted."
Barg said the city has been approached by a developer about a specific project.
"So, somebody wants to buy that property and redevelop it and they're looking for some financial assistance from the city to make it work. I wish I could talk about it. I'm excited about it. But, at this time, it can't be released publicly."
The property includes the former 154-thousand square-foot Knights of Columbus Hall owned by the John Eisen Corporation. As a K-C Hall, Barg said the parcel is tax exempt, but will now be coming on the tax rolls as a new development takes shape. Last night was also the end of an era for City Hall Plaza, as the Marshfield Common Council held its final meeting in the former Marshfield Clinic and Figi's, Incorporated headquarters. Barg said the new City Hall in the former Forward Bank building across the street is now ready to host city meetings, and that will start next week. Marshfield government moved into the current City Hall Plaza in the summer of 1989, after being housed in what is now known as Tower Hall for many years.
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