The Community And Economic Development Committee is meeting 03/08/2023 at 4:30PM.
They have three items on the agenda, two related to the Merge, LLC housing development on Washington Street next to City Center, and one requesting approval for the city to increase the selling prices for its business/industrial park land.
The Merge housing development continues to progress. Phase One, a commercial/residential mixed-use structure including 56 apartments, is currently under construction at 115 E Washington Street.
Per an email from Merge representative Brent Dahlstrom, they “are currently on pace to have the building fully complete and ready to be occupied by the end of 2023.” Unfortunately, the current development agreement requires the building be completed before 05/31/2023, a deadline the developers will not be able to meet due to supply chain issues. They are requesting a 1-year extension on that deadline. “We do not believe we will need the full year but we have had two projects recently that had 4-6 month delays at the end of the project due to certain electrical supplies not being available.”
Staff is recommending approval of the extension and notes that the extension request “does not adjust the requirement for Developer to attain assessed value of at least $8,050,000 by January 1, 2025” laid out in the development agreement.
Separate from the construction delays, last year, the city approved the submittal of a Wisconsin Economic Development Corporation Community Development Investment grant to support Phase One of the Merge Development. That grant was awarded, and as part of the process of accepting and utilizing that grant, the city needs to sign an agreement with Merge, LLC “outlining how grant funds will be disbursed and ensure compliance with all other grant requirements.” City staff is requesting approval of an agreement memorializing the responsibilities of the city and Merge for the grant.
Finally, city staff is requesting approval to increase the land sale and option prices for the lots within the Southpoint Commerce Park and the Northeast Business Park.
View full meeting details here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=1074133&GUID=EB203097-4348-487D-80B6-75F12BB1F421
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