The CDA voted to sweeten Sandy Bay Highlands lot deals to try to move sales in a slow spring market. The BIDC also voted to pursue selling its Wentker Court buildings and set a clearer rule for how much revolving-loan help businesses can get per job created.
The committee heard from Weichert Cornerstone that Sandy Bay is experiencing a slow spring 2026 for lot sales, consistent with the wider market. This matters because slow sales can drag out the subdivision’s buildout and delay the city’s broader housing and tax-base goals.
CDA approved a new approach to try to get Sandy Bay deals over the finish line: the listing brokerage can waive up to $1,500 in closing costs when it’s the difference-maker, and buyers can put down 10% if they start building within 180 days. It’s a practical move, but it also signals the city is feeling pressure to keep lots moving—residents should watch whether these incentives become the new normal or remain a short-term nudge.
Staff reviewed appraisals for 1429 and 1429B Wentker Court and discussed the long-term tenants. BIDC voted to authorize the City Manager and Community Development Director to negotiate sales at the appraised rate, with proceeds intended for a future BIDC small business/industrial incubator space. The key accountability question going forward is whether the sale proceeds actually get tracked and used for that stated purpose—and how quickly the properties return to the tax rolls.
Staff outlined expansion projects seeking help from the BIDC Revolving Loan Fund and noted they’re also working with WEDC on tax credits and loan applications. BIDC reached consensus on a clearer rule: for each 1 full-time-equivalent job created in Two Rivers, an applicant can be eligible for $20,000 in RLF support, and staff emphasized the fund is meant to be a secondary lender. This is the kind of policy detail that can quietly decide who gets help and who doesn’t, so residents should expect future votes to reference this job-creation math.
Staff shared a concept map from early-2026 engagement sessions, including a proposed 75-foot water-access setback for a future riverwalk and dockage north of the 17th Street Bridge, and noted soil sampling is expected by the end of May 2026. The minutes also note the property has been rezoned to B-1 with a zero-setback requirement—an obvious tension residents should keep an eye on as plans move from “concept” to actual development proposals. BIDC cautioned staff not to overpromise and to be clear the vision is conceptual and meant to guide private-sector proposals, not guarantee a specific project.