The Economic Development Committee of Wausau will meet on Wednesday to discuss the potential sale of 6 acres of city-owned land at the Business Campus to Green Tree Construction. Green Tree Construction, based in Stevens Point, has proposed creating four residential lots on the parcel, which is surrounded by wetlands and located on the east side of 72nd Avenue.
Wausau Economic Development Manager, Randy Fifrick, explained that the city does not currently collect taxes on the land as it is owned by Wausau. By selling the land for residential development, the city hopes to provide much-needed housing while generating tax revenue. The Green Tree Meadows subdivision was approved by the Wausau City Council in March, following approvals by the Capital Improvements and Street Maintenance Committee and the Plan Commission in February. This residential development will be an extension of previously approved single-family homes in the area.
Approximately 2.9 acres of the land will be given for free because it is deemed undevelopable by city officials. This transfer of property will result in additional tax revenue for Wausau once it is added to the tax roll. The remaining 3.1 acres are priced at $38,750 based on the standard per acre price of $12,500 for the Business Campus. This price includes the value of the wetlands on the property.
Green Tree Construction’s proposal was met with approval from both parties involved after thorough consideration and examination by various committees within Wausau City Council
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