LA CROSSE, Wis. (WKBT) - A $25 million revitalization project in downtown La Crosse is likely to get some help from the city.
Don Weber and his team plan to turn the former Ross Furniture building into a boutique hotel.
They were asking for $2.5 million in aid from the city. On Wednesday, a city committee recommended giving the project $750,000 in the form of a reverse TIF grant. That means every year for the next ten years, after taxes are paid for the building the city would return about $75,000.
"Most developers would not take this project on. It is not providing the returns that a typical developer would look for," said Amy Peterson, planning and economic development administrator for the City of La Crosse.
The deal will go before the city council in September then it needs to be approved by the joint review board.
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