WAUSAU, Wis. (WSAU) - Three local legislators want to help Wausau complete a proposed reclamation of the River District.
A bill introduced by State Senator Jerry Petrowski (R-Marathon) and Representatives John Spiros (R-Marshfield) and Mandy Wright (D-Wausau) would extend the life of Wausau's 3rd Tax Incremental Financing (TIF) district for 10 years. “This is important to the ongoing success of development in the area and will pay dividends over the long term,” said Petrowski. “Working together I believe we can get this done.”
City officials presented plans this month that would improve the area by remediating brownfields, develop a new waterside park, and remodel a number of currently blighted buildings into usable office and apartment spaces. Representative Mandy Wright says the program has great potential for the down town. "This would certainly bring more people and more foot traffic to the businesses around the riverfront."
The legislation, if approved, would bring an additional $17 million dollars to the TIF for use on the overall improvement of downtown.