(Beaver Dam) The Beaver Dam Common Council last (Monday) night approved the creation of a new Tax Increment Finance District to pay for the purchase and demolition of the former Lakeview Hospital. The old La Crosse Street structure and two adjacent properties – the former Executive Apartments and a lake front house – are being developed into high-end, lakefront condominiums. The common council approved an agreement with the Beaver Dam Community Hospital in October to purchase the shuttered hospital for $225-thousand dollars; closing is today. The costs are being paid for with revenue generated though the new TIF #9. The demolition is estimated at $1.2-million dollars. The new condo development from WDS Construction of Beaver Dam is expected to add $4-million dollars to the tax rolls.