• Mon. Apr 22nd, 2024

News Eyeo

All Important News

Wausau committee considers proposal to sell land in Business Campus

Byeditor

Apr 4, 2024

The Economic Development Committee in Wausau will discuss the potential sale of 6 acres of city-owned land at the Business Campus to Green Tree Construction. Half of the property may be transferred to the company at no cost. Green Tree Construction, a Stevens Point-based construction company, has plans to develop four residential lots on the parcel, which is surrounded by wetlands and located to the east of 72nd Avenue.

City officials have indicated that almost half of the land, approximately 2.9 acres, will be given for free as it is deemed undevelopable. By transferring the property, Wausau stands to gain additional tax revenue once it is added to the tax roll. The recommended price for the remaining 3.1 acres is $38,750, based on the standard per acre price for the Business Campus, which is $12,500.

The Economic Development Manager, Randy Fifrick, stated that the price of $38,750 includes additional wetlands on the property. Currently, no taxes are collected on the land because it is owned by the city. The proposed development, Green Tree Meadows subdivision, was approved by the Wausau City Council in March after receiving preliminary plat approval from the Capital Improvements and Street Maintenance Committee and the Plan Commission in February. This residential project would be an extension of previously approved single-family homes in the area.

Overall, the decision to sell the land to Green Tree Construction would address the issue of city-owned wetlands in the Business Campus and provide much-needed housing options in Wausau.

By editor

Leave a Reply