Damakant Jayshi
Wausau’s Economic Development Committee on Wednesday will consider the sale of 6 acres of city owned land at the Business Campus to Green Tree Construction, with half of the property to be transferred at no cost.
Green Tree Construction, a Stevens Point-based construction company, has proposed four individual residential lots in the southwest corner of a plat they already own, which is surrounded by large wetlands. With the addition of land, city officials estimate they would likely add 10 to 12 new single-family home lots. The property lies to the east of 72nd Avenue.
Nearly half of the land, about 2.9 acres, will be given away for free because, according to city officials, the land is not developable. Transferring the property would bring additional taxes to Wausau after being added to the tax roll.
The price of the land is based on the standard per acre price of $12,500 for the Business Campus. For 3.1 acres, the recommended price is $38,750.
“The additional wetlands are included in the overall price of $38,750,” Wausau’s Economic Development Manager Randy Fifrick told this newspaper.
He said the city currently collects no taxes on the property because Wausau owns the land.
“We’ve struggled with what to do with City-owned wetlands in the Business Campus in the past and feel this is a good compromise to provide some much needed housing in the City,” Fifrick said.
The Wausau City Council approved the Green Tree Meadows subdivision in March, following the approval of the preliminary plat by the Capital Improvements and Street Maintenance Committee and the Plan Commission, both in February.
The residential development would be an extension of the single-family homes that were approved by the City Council on March 12, Fifrick said.
