APPLETON, WI (WTAQ) – The City of Appleton is still waiting to hear whether U.S. Venture will accept millions of dollars in payments and incentives for the company to build its new headquarters on the downtown bluff site.
“Everybody’s asking ‘what’s going on?’ Well here’s the answer: The offer was made over a month ago and we’re just waiting to hear,” says Appleton Mayor Tim Hanna, “The general public needs to know and there’s a lot of interest in this, which is good. They’re curious as to what’s going on.”
Hanna says a $40 million offer was made from the city to US Venture to build its new $57 million headquarters downtown in November, but they have yet to hear back. He also tells us that designs are about 90% complete for the potential site.
“We’re this close to having some agreement and making this project a reality. There’s a lot going on over in that neighborhood and this is the first big, important piece. So we’re anxious to get this done,” Hanna tells WTAQ News.
Some have raised eyebrows over the size of that offer, but Hanna reminds everyone where the money is coming from.
“This was the amount that works for the city without having to use any general fund tax money,” Hanna says, “We need to pay for this through TIF incentives and through our parking utility, not through general tax dollars.”
When it comes to what the company can use the $40 million for – Hanna says it would generally be up to them to decide.
“If they want to apply it all towards the construction of the ramp, that’s fine. If they want some applied to that and some as a TIF incentive, that’s fine. We’re willing to be very flexible on that. This is the number that works for us,” says Hanna.
The statements made by Hanna on Thursday were to keep residents in the loop, but also to remind U.S Venture of the offer on the table.
“If you want to build what’s been designed, this is how much we can contribute. Let’s go,” Hanna says.
While the current plan would call for the city covering $40 million of the $57 million headquarters, Hanna says the city’s final contribution would flex up or down, depending on the final design and plans for the building.
