6/7/11 – The Beaver Dam Common Council last night unanimously approved an offer to purchase land that would allow for the expansion of TIF 4. That’s the Tax Incremental Finance district on the north side of town where the Lakeside and Beaver Dam Business Parks are located, which include facilities like Northwoods Paper, Mayville Engineering Company and the new Animart facility, among others. The purchase would involve 83 acres currently owned by Donald and Sandra Snyder at a cost of $973,000 and 111 acres currently owned by Rich and Nancy Zieman of Zieman Properties at a cost of $1.2 million. The land is bordered by the North Hills Mobile Home Park, Highway W, Hemlock Road and Highway 151. While there are still smaller parcels available, Beaver Dam’s industrial parks are quickly running out of space. The city’s economic development commission warned officials they may have to turn away a large company. Initial costs for the land, road improvements and basic utility infrastructure is $4.5 million, though another $3.3 million is anticipated for future project costs, things like additional public utilities, streets, grading and storm pond construction. Economic development official’s say TIF 4 is currently performing very well and generates enough positive tax increment to support borrowing for the expansion.
