Marshfield aldermen postpone TIF reconsideration
By Hub City Times staff
MARSHFIELD – Marshfield aldermen will wait for a specific plan for the site of the former KC Hall before reconsidering a tax incremental financing (TIF) district for the property.
With Pete Hendler absent, the Marshfield Common Council voted 5-4 March 12 in favor of holding off on the creation of the TIF until the city knows if a proposed hotel developer is going ahead with his plans for a Hampton Inn & Suites on the property.
Realtor Rita Blenker told the council her client, Prairie Lodging, LLC, is willing to move ahead with the hotel development, even without incentives from the city. She said the company wants the TIF district so neighboring residents don’t get stuck footing the bill for the street improvements that go hand-in-hand with his project.
Blenker said the $750,000 price tag on the site will probably be lowered, to maybe $600,000, and she said he’s willing to forgo a developer incentive.
The proposed taxing district would provide a funding mechanism for helping the developer create a hotel, while also improving the adjacent streets. If the TIF district is not established, Development Services Director Josh Miller said those new streets would come with special assessments for adjacent property owners – something the developer wants waived.
The KC Hall site is in Alderman Mike Feirer’s district, and he says the hotel and its 86 rooms are badly needed.
Feirer joined Aldermen Chris Jockheck, Nick Poeschel and Tom Witzel in voting against the postponement.
If the Hampton Inn deal falls through, Blenker told the council she’s got two other chains interested.