EDITORIAL: WeTEC sale is big win
When it came to decision time, the New Richmond City Council did the right thing and decided to sell the city-owned WeTEC building.
Carrying a price tag of $225,000, the 43,000-square-foot building that Wisconsin Lighting is getting is a pretty good deal.
But the city is getting a pretty good deal as well, due to conditions place on the proposed sale. The downtown company, which has been growing steadily since opening locally a few years ago, will promise to achieve 70 full-time positions in its location in the next four years or so.
Wisconsin Lighting will also upgrade the exterior of the building, which is in serious need of renovation, and start paying property taxes to the city and other taxing entities as well.
In return, New Richmond keeps ahold of some valuable jobs within the downtown district, and the plant occupant doesn't generate any pollution or problems that cause the city any headaches.
While some may have suggested that the city wait and see if the real estate market picks up before selling the building, the time was right to pull the trigger on the sale.
Now the city can't get out of the property management business and focus its attention on more important matters.