Demolition that began Tuesday came one month after more than 200 people gathered outside the former Sears to kick off the Woodman’s Center construction. Special guests that day included Gov. Tony Evers and U.S. Sen. Tammy Baldwin.
City Manager Kevin Lahner, at the groundbreaking in February, noted the power of partnerships and the importance of staying the course.
“I am proud to lead a team that will ensure this will be an asset to our city for years and years to come,” Lahner said.
“This project will help transform this area of the city and help one of our state’s fastest growing communities to thrive going forward,” Evers said at the February event. The Woodman’s Center will “bolster local tourism and have a positive effect that will be felt all across the state. I’m happy our administration could be a partner in supporting this really innovative project,” Evers added.
Baldwin said in February that the Woodman’s Center will help propel Janesville forward as a Midwest “tourism hub.”
“This was such an easy project for me to support,” Baldwin said. “I was proud to do my part and bring home $5 million in direct federal support for the project. I want to thank all the partners who made this possible and who are helping write the next chapter of the history of Rock County.”
The council voted in February to borrow $15.3 million to help cover the cost of construction, and to pay off that debt over 15 years.
The owner of a $150,100 median-priced home in the city will be taxed $39.09 annually toward the center’s construction, as the city pays off that debt. That includes, for the owner of a median-priced home, $171.46 toward the city’s interest payments over 15 years. The city’s debt payments will include $5.78 million in interest.
What’s not covered by city borrowing is coming from other sources including $14 million in state reimbursements, $5 million in federal reimbursements, and $9.7 million raised by the Friends of the Woodman’s Center.
Construction impact on mall
Julie Cubbage, manager of the Uptown Janesville Mall, said the mall will remain open for the duration of the Woodman’s Center construction, with no change to its hours. She said the mall plans to coordinate with Alliant Energy to have planned power outages be during non-business hours.
Cubbage, whose office is near the construction site, said she will take the noise and general construction one day at a time.
As she contemplated what’s ahead, she noted change is hard for some people. However, sometimes it’s needed, she said.
She said as the news spreads of the Woodman’s Center’s coming construction, she is hearing from new retailers interested in space in the mall in the future.
That is “not going to happen overnight… we are just taking it one day at a time,” she said.
In addition to the mall, the expanded TIF district would include the Diamond Ridge Apartments on Woodman Road. It is not proposed to include the Milton Lawns Memorial Park on the east side of Milton Avenue.
Jimsi Kuborn, the city’s economic development director, said an expanded TIF district presents an opportunity to promote additional mixed-use development, offer incentive to redevelop properties in the area and to make infrastructure improvements. She said multi-family housing and hotels will be key focuses and expressed hope that the larger TIF district will see the same level of success as a downtown TIF district that includes the ARISE Town Square. Both the downtown and the Woodman’s Center are great examples of public-private partnerships, she noted.
Kuborn said over the life of the proposed TIF district, the city expects to invest about $3.9 million and in return anticipates seeing $17.4 million in new property value with its boundaries. The city expects to pay off any TIF borrowing within 17 years, and to close the TIF district 3 years earlier than the maximum allowable 20 years.
Kuborn said she hopes wrapping the expanded TIF around the mall in conjunction with the construction of the Woodman’s Center will revitalize it.
“We want the mall to be successful and bring it back to what it was before,” she said.
Janesville’s original Sears, on West Milwaukee Street in downtown Janesville, opened in the 1930’s.
In 1984, Sears moved to 2811 Milton Ave., now the site of Panera Bread and a UPS store.
In 1996, Sears constructed its new building, that’s now coming down. The two-story 110,000 square-foot department store was built at what had once been an opening into the mall.
Sears closed the Janesville store in February of 2018 and the retailer filed for Chapter 11 bankruptcy later that year.
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