The City of Wisconsin Dells is now providing loans to investment groups buying commercial property in the down town. It is great to see the City of Wisconsin Dells in the money lending business. The City of Wisconsin Dells recently wrote a loan contract of 100 thousand dollars for the purchase of the land and improvements on 321 Broadway Wisconsin Dells.
The Wisconsin Dells Realty listed the land and improvements for sale at a market price of 299, 900.00. The Bank of Wisconsin Dells participated in the financing and will be the primary lender with the City of Wisconsin Dells following secondary in the prioritized placement for lien reimbursement.
Those purchasing the land and developments plan to rent the space out as a way to repay the principal and interest while maintaining the improvements. The City loaning money to groups willing to risk an investment in the commercial district is part of a no dark property effort. The new business licensing process will come with regulations that mandate defined hours of operation. Those covering their windows and departing for warmer winter venues may face financial penalties as part of this new effort.
The City of Wisconsin Dells has crafted a funding mechanism within the Community Development Authority to write monetary loan contracts for groups wanting to invest in property within the commercial district. This activity is expected to maintain elevated property values for empty store fronts keeping tax contributions at a level that the public service budgets so desperately depend upon.
Real Estate Professionals would define this as a boot in the form of loan relief. The City of Wisconsin Dells is writing a loan contract for a large sum of money to help even things up for buying a vacant property.
Area residents will be tracking the future of this property as a way to determine the validity of the writing of large loans to maintain business operation in the commercial district. Simply , does the City of Wisconsin Dells writing large loans for investment groups result in store fronts that are open daily, and serve the community year round.