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(Edgerton, WI) – The City of Edgerton announced today that it reached an agreement to purchase a 50-acre parcel for the expansion of the Edgerton Business Park, on Hwy 51 near I-90/39. The parcel, located directly east of the existing Business Park, will allow the city to compete for larger industrial and distribution developments. “The biggest parcel in the current business park is 15 acres—too small for consideration by many firms. We don't want to turn away another potential company the size of Save-A-Lot,” explained Edgerton's City Administrator Ramona Flanigan.


“For many reasons, the timing of the purchase is advantageous,” explained City Council President Ron Webb. “With the scheduled upgrade of the interstate to six lanes, land prices along the interstate will increase.”  The expansion and reconstruction of I-90/39 from the WI/IL border up to Madison is scheduled to begin 2014/2015.


“The land purchase was also driven by a statutory limitation on TIF districts,” explained Flanigan. State law limits the total value of property that can be included in TIF districts. When a city reaches that limit, no new TIF districts can be created and an existing TIF district cannot be expanded. The land purchase will be funded using TIF financing.


“The City is currently at 10.8% of its TIF capacity, and 12% is the limit. Given the value of current development projects, the City is likely to be over its 12% limit soon. Once that happens, the City would not be able to buy any additional property to facilitate future business development opportunities.” Flanigan noted that the Edgerton Business Park TIF district is in a strong financial position; and therefore, the Park can support the acquisition of the 50-acre parcel.


According to Rock County's Economic Development Agency, James Otterstein, “Logistics and supply chain factors are continually impacting business development decisions. That’s why locations that possess the ability to assemble larger, shovel-ready sites near an Interstate interchange are positioned more competitively than others.”

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