The Sturgeon Bay Finance and Purchasing Committee accepts Bay Loft Apartments proposal

By Paul Schmitt


In a meeting, Wednesday afternoon at Sturgeon Bay City Hall, the Finance and Purchasing Committee approved to amend a development agreement with The Bay Lofts Apartments.  A minimum $5 million assessment was needed for this year to trigger an 85% share back to Bay Lofts to pay back its initial development loan.  After discussion and input from City Community Development Director Marty Olejniczak , Chair David Ward made a motion that was approved unanimously to allow the Tax Incremental District (TID) 4 to pay Bay Lofts a share of $74,804.13.  He states that the City will still get the expected 15 percent share of $16,118.



Ward says he suspects the roughly $4 million assessment done earlier was based on the fact that the west side apartments were not full at the time.  He says the agreement will remain in place and that hopes are the assessed value will increase substantially next year to surpass the $5 million threshold.  The recommendation will now go to the Sturgeon Bay City Council at the December 4th meeting for final approval.


The full interview with David Ward after meeting.



Search Our Site

Current Weather




Will you follow the newest CDC guideline for vaccinated people to wear masks in public indoor facilities?
Add a Comment
(Fields are Optional)

Your email address is never published.

Birthday Club

Sports Poll

Do you agree with Aaron Rodgers and the Green Bay Packers' decision to bring back Randall Cobb?
Add a Comment
(Fields are Optional)

Your email address is never published.

Obituaries are provided as a service of the

Schinderle Funeral Home of Algoma


Click Here for more Obituaries

Obituary posting fee is $25


Sign up for our Daily Electronic Newspaper!

Get the latest news with our Daily Electronic Newspaper delivered to your inbox.

Get the latest updates for Big Deals delivered to your inbox every Monday, Wednesday & Friday.