Appleton’s mayor says the city is willing to give U.S. Venture $40 million in incentives to have the company move its headquarters to the downtown.
The two sides have been negotiating for a couple of years, and Mayor Tim Hanna says the city made the latest offer more than a month ago. A big chunk of the money would likely go toward building an underground public parking ramp, and U.S. Venture would rent spaces in it.
Hanna says the city would cover the $40 million through the parking utility and TIF incentives, and no property tax dollars would be used. He says it would be up to U.S. Venture to decide how to divide that money between the ramp and TIF payments. Hanna says the city is willing to be flexible on that.
Hanna says the $40 million is the amount that works for the city. He says the city continues to be excited about having the company downtown, and he believes U.S. Venture wants to be downtown.
U.S. Venture officials haven’t responded to the offer yet. Hanna says the company is planning a $57 million project.
Listen to Mayor Tim Hanna’s press conference on the offer to U.S. Venture:
