The BIDC/CDA voted to move ahead with buying and annexing about 24.6 acres in the Town of Two Rivers for roughly $209,465, after a closed-session discussion. They also signaled growing impatience with Sandy Bay lot sales and demanded detailed inquiry and builder-contact data from the city’s realtor.
No public comments or communications recorded for this meeting.
Members said no good offers have come in this year and questioned whether the current marketing approach is working. With Weichert absent, the CDA still voted to demand a paper trail: which builders were contacted and a list of all inquiries since Jan. 1, 2025. That’s a basic transparency ask—but it also reads like a warning shot that the city may need to revisit the realtor contract if sales don’t improve.
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Weichert did not attend, and the CDA said it hopes the realtor will show up next meeting. Given the earlier complaints about weak results, the absence matters: residents are left without answers in real time about pricing, outreach, and what’s actually being tried to move lots. This item functioned as a placeholder rather than a real discussion with the contractor being paid to deliver results.
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The committee reviewed the Revolving Loan Fund manual last adopted in 2019 and generally agreed it’s solid. Staff will circulate an editable version and give members a month to propose changes. This is process work, but it matters because the manual sets the rules for who gets local business financing help and under what terms.
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Staff reported the Cool City Motel is using previously approved TIF support for windows and doors and has withdrawn its Revolving Loan Fund request because cash flow is now sufficient. Staff also said they’re working with the owner of 1516 Washington Street on a potential downtown restaurant renovation, with quotes coming in lower than expected. The takeaway: one request is off the table, while another potential project is still forming and could come back for financing decisions later.
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Staff shared progress notes: a demolition quote has been accepted for the Forest Avenue Apartments greenhouse building; the West River Lofts developer has a primary lender and is pursuing soil testing and WHEDA support; and Flavor Hut has a contract to build a 12,000 sq. ft. facility in Woodland Industrial Park on BIDC-owned land, described as TIF-supported. These are not votes, but they are meaningful signals about where city-backed development energy (and potentially public subsidy) is headed next.
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The committee voted to go into closed session under state law to discuss property acquisition and business assistance, citing competitive/bargaining reasons. Closed sessions can be legitimate, but they also reduce public visibility into how priorities and price points are set—especially when major land decisions follow immediately afterward. Residents should expect clear, specific explanations in open session whenever possible about what was decided and why.
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Back in open session, the committee authorized staff to proceed with purchasing and annexing 24.642 acres in the Town of Two Rivers for about $209,465, with one abstention. They also authorized granting Keller Construction access to begin initial site preparation at 2708 18th Street, again with one abstention. These are consequential “go” decisions, but the minutes provide limited public-facing detail on the terms, timeline, and downstream costs residents will ultimately carry through services and infrastructure.
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