City of Stoughton
Months after a potential deal with developer Curt Brink expired, riverfront redevelopment was front and center once again at the Stoughton City Council Tuesday, Oct. 22 meeting.
Members approved a six-month memorandum of understanding with The Alexander Company to negotiate a development agreement for around 10.5 acres of vacant land downtown along the Yahara River, in the city’s former industrial area. The agreement will expire on April 30, 2025.
City of Stoughton Mayor Tim Swadley said the city’s Redevelopment Authority (RDA) had recently interviewed two potential developers and selected The Alexander Company to do “due diligence the hope is at the end of six month, they’ll commit to enter into a developer agreement and do the multi-unit apartments down on the riverfront.” The agreement would likely include tax incremental financing (TIF) funds for the developer...
Members approved a six-month memorandum of understanding with The Alexander Company to negotiate a development agreement for around 10.5 acres of vacant land downtown along the Yahara River, in the city’s former industrial area. The agreement will expire on April 30, 2025.
City of Stoughton Mayor Tim Swadley said the city’s Redevelopment Authority (RDA) had recently interviewed two potential developers and selected The Alexander Company to do “due diligence the hope is at the end of six month, they’ll commit to enter into a developer agreement and do the multi-unit apartments down on the riverfront.” The agreement would likely include tax incremental financing (TIF) funds for the developer...
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- - Volume: 24 - WEEK: 44 Date: 10/31/2024 2:27:32 PM -