By Joe Bachman
WISCONSIN RAPIDS — City officials have officially accepted an offer by Northpointe Development Corporation to build a new senior housing development at last night’s special common council meeting.
The housing will be built on city property in the southwest portion of the parking lot located next to the Centralia Center. This process will be conditional upon a developer’s agreement which will include, but not be limited to: parking agreements, developer’s fee, driveway access, and minimum tax increments — but the offer shall not include the city land intended to support the YMCA/Boys & Girls Club development.
According to Alderperson Thad Kubisiak, one of the driving reasons for this approval, is the projected tax increment that would come with the four-story property.
“As alderpersons, we are vested with the requirements of being stewards for the city and the taxpayers judiciary responsibilities,” said Kubisiak. “One of them is to make sure we have a sustainable tax base, and with the advent of the mall selling, we lose that tax increment. This is a projected $2 million dollar evaluation for this property — it would be irresponsible if we didn’t move forward to try and make this work.”
“We spent a good amount of time looking at six sites trying to see where this could work; so we didn’t let this slip through the cracks for the benefit of the community, and the market this project looks to fulfill.” said Mayor Zach Vruwink to council members.
Northpointe Development Inc. is a real estate development company that serves Central Wisconsin.