DAILY WISCONSIN

Wausau borrows $2.6 million to buy 16 acres of mostly empty riverfront property

Good luck with that — It’s empty because private investors didn’t see it as worth the effort —

….city will fund the purchase entirely with economic development funds, which are separate from general fund tax dollars, Tipple and Community Development Director Ann Werth said Tuesday. That leaves the city to bank on development throughout the 16 acres to generate increased property tax to recoup the $2.6 million.

Via Wausau Daily Herald.

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