By Jennifer Eisenbart
Editor
Following a closed-session discussion Tuesday night, the City of Burlington Community Development Authority agreed to finalize a contract for the sale of the empty lot at the corner of Dodge and East Chestnut streets.
Burlington Core Group Upgrade II, LLC, has been trying to purchase the property or upgrade it for several years. A preliminary agreement was reached earlier this spring before both the group and city discovered there might still be remediation needed on the property.
“They were the only entity that submitted a proposal for future development of the parcel at Dodge Street and Chestnut Street,” said City Attorney John Bjelajac following the CDA meeting.
After the discussion in closed session, a contract for the sale will be set for $70,000 – the appraised value of the property.
However, with the City Council approving an application for Wisconsin Economic Development Corporation Site Assessment Grant funds for about $25,000 Tuesday night as well, concerns about any remediation needed on that land will be addressed.
Any potential remediation costs are being worked into the contract, taken off the final price with the Core Group doing the remediation. There will be provisions in the contract for either side to cancel the transaction if they deem is appropriate.
Members of the Common Council expressed optimism that the contract would allow the land to finally be developed. It has sat empty since the downtown revitalization project – including the construction of the Hampton Inn and parking structure – began in 2009.
“My hope is if we go through this process, that it won’t be a vacant site for another two years,” Alderman Tom Preusker said. The land used to house stores, and a gas station sat right next to the now-empty lot.
“My concern is that there will be some remediation,” Alderman Tom Vos said. He also expressed frustration because money from a previous grant had been earmarked for the remediation.
Current City Administrator Carina Walters said it appeared the money had been used for other aspects of the downtown project, though she was not here at the time.
“All of it was not cleaned up,” Walters said.
Mayor Jeannie Hefty said she was pleased to see the work moving forward, however.
“I think it’s great,” Hefty said. “It’s going to be exciting for Burlington, because we do have interested parties who are waiting for this process to get done.”
-
-
-
-
-