Bonding for new Carroll dormitory endorsed

By Laurel Walker of the Journal Sentinel

April 29, 2010 0

Waukesha - Developers of a second dormitory building for Carroll University could get financing help through tax-exempt bonds issued in the wake of Midwest flooding - in addition to other city assistance approved earlier this month.

The city Finance Committee on Wednesday unanimously recommended approval of an initial resolution of city intent to issue up to $12 million in industrial revenue bonds for the second phase of Pioneer Hall by developer Clysmic Properties. The Common Council is expected to act May 4.

The bonds are part of the disaster relief passed by Congress after severe flooding in the Midwest in 2008. Wisconsin's share is $3.8 million. Last year, Gov. Jim Doyle signed an executive order determining that commercial projects built in a county that suffered flooding would be deemed to be replacing business lost to the disaster.

The bonds could be subject to a voter referendum if one was forced by petition.

Clysmic Properties, under managing partner Alan Huelsman, built a four-story dormitory hall on College Ave. near Grand Ave. on the site of a long-closed rubber factory. It opened in 2008 with 66 four-bedroom suites. Carroll leases the building.

The second building will also be four stories with about 100,700 square feet of student housing and retail and ancillary space. It will replace a dated strip mall and teen center and is planned for completion by the fall of 2011.

According to city finance documents, the second building project will create 42 full-time jobs - among the 100 anticipated for all three buildings.

Earlier this month, the Common Council approved a tax incremental financing agreement that provides $3,081,306 in incentives for the second and third phases of Pioneer Hall. Another $700,000 had been approved for the first phase.

The third phase involves acquiring two properties at the corner of Grand and College avenues, between the two dorms, and building a mixed-use building, possibly additional housing, a fitness center, classroom space and covered parking, according to city documents.

About Laurel Walker
Laurel Walker covered local, school and county government for 20 years -- the last half of that at the Milwaukee Journal and Milwaukee Journal Sentinel -- before she was named Waukesha County columnist in 1997. Today she writes about the people, places and events around metropolitan Milwaukee with a broad suburban focus. She was the youngest of nine children raised on a central Wisconsin farm before leaving the nest for journalism studies at the University of Wisconsin-Eau Claire and a masters degree at the University of Oregon. She has spent the last half of her life in Waukesha County, where she and her husband raised two sons. Though she has a fondness for life in Waukesha, she eagerly partakes in the culture of the big city to the east and the recreation of the forests to the west. With sons in the arts, she has a special fondness for symphonic music concerts and art museums. She finds peace in a good book at a Northwoods getaway weekend, adventure in family visits to the east and west coasts, and satisfaction in a column well-written that reaches readers.
0 Share Tweet Print
NewsWatch

Summerfest 2016: Selena Gomez blossoms at Marcus Amphitheater Yesterday
11:48 p.m.

Summerfest 2016: Summerfest Reviews: Willie Nelson, Martin Garrix, Kiings and more 11:46 p.m.

28 private schools register for special-needs voucher program 10:55 p.m.

Girl, 3, woman wounded in shooting on Milwaukee's north side Updated: 10:51 p.m.

Istanbul airport attackers seized on chaos to cause carnage 10:44 p.m.

Showers and thunderstorms expected in Milwaukee Thursday 10:15 p.m.

Motorcyclist killed in Dane County crash Updated: 9:32 p.m.

Jockey taps veteran to 'Show 'Em What's Underneath' Updated: 8:36 p.m.

Watchdog Update: Todd Dyer, the ‘bring it on’ felon, indicted for 3rd time Updated: 8:06 p.m.

Paul Ryan says he's on the same page with Donald Trump on trade Updated: 7:30 p.m.

Southwest Airlines tries to balance strong brand and the need to grow revenues 6:46 p.m.

Exact Sciences executive attends Cancer Moonshot Summit 6:25 p.m.

Time is running out to get free upgrade to Windows 10 6:25 p.m.

Means resigns as leader of Milwaukee turnaround district Updated: 6:21 p.m.

Beyond fast food: New franchising ideas draw entrepreneurs 6:03 p.m.

Microsoft CEO Nadella to pen book about changes in his life 5:55 p.m.

Groups to provide $1 million for YMCA’s urban mission Updated: 5:07 p.m.

Madison utility company to be added to S&P 500 stock index 5:02 p.m.

Vans, car stolen in burglary at Cedarburg dealership Updated: 5:01 p.m.

Fed gives approval to 30 banks to increase dividends, buy back shares 5:00 p.m.

DNR’s report on Kohler golf course spurs concerns 4:47 p.m.

Marcus considers downtown tower that would include cinema Updated: 4:17 p.m.

Roy Lukes: Writer, educator Lukes instilled respect for nature 4:11 p.m.

S&P assigns debt ratings to Johnson Controls automotive business Updated: 3:54 p.m.

S.C. Johnson CEO testifies before Senate panel on Zika virus Updated: 3:44 p.m.

Referendum will be held to decide fate of Forest Park Middle School 3:15 p.m.

Milwaukee police search for man who pointed a gun at man downtown 3:07 p.m.

Indoor sports complex pitched for Jackson 2:53 p.m.

Truck hits, kills 83-year-old woman crossing street in Bay View 2:47 p.m.

Man remains in custody in fatal shooting in Milwaukee 2:30 p.m.

Initial Reaction Podcast: A look ahead to US Open 2017, look back at Champions Tour event in Madison Updated: 2:00 p.m.

Jury dismissed after deadlocking in Berit Beck murder trial 1:36 p.m.

Stegman is new president of Milwaukee Journal Sentinel 1:15 p.m.

Canadian bank to buy parent company of The PrivateBank 12:16 p.m.

Green Sheet: When RFK slipped into Appleton for McCarthy’s funeral 11:28 a.m.

Meijer says Waukesha store to open on Aug. 2 Updated: 11:06 a.m.

Summerfest 2016: Follow the action at Summerfest 11:00 a.m.

Summerfest 2016: Milwaukee band Direct Hit! opening for Blink-182 at Marcus Amphitheater 10:53 a.m.

Patti Guerrero: Guerrero battled health challenges by giving to family, co-workers 10:52 a.m.

Man found guilty of vandalizing Wales Elementary School, causing $70,000 of damge 10:45 a.m.

Authorities ID body found in Lake Michigan in Kenosha 9:53 a.m.

Delafield residents call for restrictions on national political campaign spending 9:40 a.m.

Walker's Point strip club loses fight to delay 90-day closure 9:32 a.m.

Wife speaks out after fireworks incident involving war vet 9:22 a.m.

Suspect held as FBI transcribes tapes in Masonic center plot 9:00 a.m.

Village of Mukwonago's sex offender residency ordinance takes effect June 30 8:45 a.m.

On Tap Today: Summerfest, of course 8:25 a.m.

PolitiFact: Do doctors kill 250,000 people every year in botched surgeries? 5:00 a.m.

Spike Brewing provides custom equipment for homebrewers 5:00 a.m.

Jim Stingl: Electronic artist catches Summerfest scammer in the act 5:00 a.m.

Advertisement

Photo Galleries

Advertisement