City leaders are considering millions of dollars for additional projects in Wausau’s TIF districts, and one of those includes the demolition of the McClellan Street parking ramp.
The Joint Review Board will meet Tuesday to talk about the projects, which include amendments to Tax Increment Finance Districts Nos. 3, 8 and 12.
TIF District No. 3 includes $2.5 million in expenses toward parking, including the demolition of the McClellan Street ramp. Finance Director Maryanne Groat said in a previous meeting that the ramp is outliving its useful life and so will need to come down.
That money also includes parking lot expansion and improvement in the Riverlife area as well as Athletic Park.
TIF No. 3 includes a total of $10.65 million in projects in the district, including purchasing and cleaning up land, street construction projects and developer incentives.
TIF No. 8 includes $6.1 million in projects and TIF No. 12 changes include $28.9 million in projects, including roughly $20 million in incentives to T. Wall for the mall project and S.C. Swiderski for the latest Riverlife project.
All told, the amendments include $45.65 million in projects. Amending the plans doesn’t commit the city to spend that money, but it allows those projects to happen within the districts.
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