(Beaver Dam) The Beaver Dam Common Council Monday night approved the engineering company that will coordinate the demolition of the former Lakeview Hospital. MSA Professional Services was hired for just under $14-thousand dollars for work related to razing the La Crosse Street structure. The old hospital and two adjacent properties – the former Executive Apartments and a lake front house – are being developed into high-end, lakefront condominiums.
Last month, the common council approved an agreement with the Beaver Dam Community Hospital to purchase the shuttered hospital for $225-thousand dollars. The costs will be paid for with revenue generated though a planned Tax Increment Finance District established around the new condo parcel. The new TIF is expected to be created on December 17 while closing on the hospital is planned for the following day. The demolition is estimated at $1.2-million dollars. City Engineering Coordinator Ritchie Piltz says he has already been receiving calls from demolition companies from as far away as Chicago and Minneapolis interested in the project. The new condo development is expected to add $4-million dollars to the tax rolls.
The council last month also approved a resolution to sell the nearby Executive Apartment site at 600 West Third Street. The recently-demolished structure was the scene of a fatal fire this spring. Both parcels are being sold to a company associated with WDS Construction of Beaver Dam for one dollar. The developer will also have to pay outstanding property taxes and related expenses on the apartment site totaling roughly $20-thousand dollars.