Merrill Council to consider land purchase, development agreement
The Merrill Common Council will consider two resolutions Tuesday night that would help get a delayed local business development onto solid ground.
The council had in May 2016 authorized a development agreement to aid construction of a brand new Nelson’s Power House facility on property off Kinzel Street. However, that site has since been determined to be undevelopable due to environmental contamination.
A new plan, approved by the city’s Redevelopment Authority and Committee of the Whole on June 27, would assist the business in relocating to East Main Street from its current location on Genesee Street. According to the proposed resolutions, the city would purchase a portion of the Whispering Pines Mobile Home Park on East Main Street and then turn over part of it over to TSI State Property, LLC for development of the new Nelson’s Power House.
One resolution to be considered Tuesday night would authorize the purchase of about 6.5 acres of land from Badger Portfolio, LLC, on which the mobile home park has been located. The purchase price for the property would be $575,000. The city already acquired two small adjacent parcels at the corner of East Main and Gem streets in 2016.
Another resolution before the council would authorize a development agreement between the city and TSI State Property, LLC. About 1.5 acres of the property purchased by the city would be transferred to TSI for the new development. TSI would also receive a $125,000 development incentive through TID #3, in which the property is located.
TSI State Property is proposing to construct two new buildings, a 7,500 square-foot showroom and a 7,200 square-foot warehouse. The development would represent an owner investment of about $1,215,000 and would generate a projected $263,000 in tax increment for TID #3 over the next eight years.