WEDC contributed $20,000 toward an $80,000 planning project to provide a master plan for future downtown development and address connectivity issues within the community. The plan identified a need for $1.2 million in public investment, which would leverage $7.9 million in private investment in the form of property improvements and new development. Since the plan, the village has identified a number of village-owned parcels downtown with redevelopment potential, and is working to market them to developers. They have also addressed many of the access and parking constraints identified in the plan.
WEDC invested $250,000 in the $1.8 million project to convert a long-vacant former BMO Harris Bank building into the Mount Horeb Innovation Center, located in the heart of downtown. The structure will ultimately serve as a hub for entrepreneurs and offer co-working space options with its meeting rooms and technological capabilities, but also allowed Duluth Trading Company to expand office operations in Mount Horeb in the near term, relocating 80 executive employees from its overcrowded Belleville location.
WEDC provided $1 million toward the $9.5 million first phase of the Central Wisconsin Applied Research and Business Park development. DMI Acquisitions LLC is the lead developer for the project, which will redevelop the former mill site.
WEDC contributed $10,000 toward a $40,000 feasibility study and plan to redevelop 30 acres of vacant former industrial properties located along the river and adjacent to downtown. As a result of the plan, title issues were addressed, environmental studies were completed, the city invested $750,000 to acquire 10 of the 16 acres, and a developer RFP was created which will be issued once cleanup is complete. The city is also pursuing the purchase of strategic properties in the study area.