Shopko store project in Brodhead put on hold
BRODHEAD The developer of a proposed Shopko retail store in Brodhead has postponed the project for as much as a year.
As a result, Brodhead also has postponed creation of a tax incremental finance district for the project.
C.D. Smith Construction of Fond du Lac announced it has set a new timetable for developing about 5 acres at the southwest corner of Highway 11 and 25th Street. The company contacted Brodhead city attorney Mark Schroeder to advise the city of the company's plans to change its timing in building the commercial facility, with the tentative tenant being Shopko.
"This has nothing to do with anything the city has done or the council did," Brodhead Mayor Doug Pinnow said at Monday's city council meeting.
"Tentatively, it's (the project) been pushed back one year," Schroeder said. "The plan commission has determined on the recommendation of Vierbicher (Associates), to put on hold the TID (TIF) 7 formation, pending receipt of more information from C.D. Smith Construction."
The proposed store was to be a Shopko Hometown store, a smaller version of the Shopko store model aimed at smaller markets. Original plans called for the store to open by the end of 2012 and employ about 17 full-time positions.
On Jan. 9, the city council hired Vierbicher Associates, an engineering firm, for an additional $8,300 to complete work on Tax Incremental Finance District No. 7, which was started in 2008 at the location described. About $4,000 remained on the original contract.
C.D. Smith Construction was seeking incentives from the city for the $2.5 million project.
In connection with the development, C.D. Smith Construction would have received about 60 percent of annual TIF revenue increases for up to 10 years or a maximum of $500,000, whichever came first. The timeline originally proposed would have had the council taking final action on the TIF and development agreement by May.