City of Marshfield considers 86-room hotel at former Knights of Columbus site
Melissa Siegler
MARSHFIELD - A new hotel is in the works for the city of Marshfield.
The Marshfield Joint Review Board heard a proposal this week from Redevelopment Resources, a Madison-based consulting firm, for an 86-room hotel building at the site of the former Knights of Columbus building on West Upham Street. The city has not released the name of the interested hotel chain.
The hotel is expected to be valued at $5.2 million once construction is finished, Redevelopment Resources representative Kristen Fish said.
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Josh Miller, development services director for the city, said Marshfield's role would be to create a tax incremental district, which could allow the city to set aside new property tax revenues to offer the developer incentives and infrastructure improvements.
The city could invest up to $2.4 million in the project, with $1.5 million borrowed, according to the project proposal. However, Miller said final numbers are still being negotiated. The tax revenue generated from the project will be used to repay the debt, according to the proposal.
The current site is not on the tax rolls, so the proposed development is meant to make the property productive again and to provide patients and their families access to lodging since the property is close to Marshfield Medical Center, according to the proposal.
A public hearing on the creation of the tax incremental district will be held at 7 p.m. Tuesday at a Plan Commission meeting at City Hall, 207 W. Sixth St. in Marshfield.
