2019 - 2020 LEGISLATURE
ASSEMBLY AMENDMENT 2,
TO ASSEMBLY BILL 895
February 20, 2020 - Offered by Representative Krug.
21. Page 1, line 3
: after “facilities," insert “a grant to the Incourage Community 3
Foundation for the construction of an economic development and community hub,".
(c) The building commission may authorize up to $25,000,000 in 8
general fund supported borrowing under par. (b), including up to $3,000,000 for the
9project described in par. (d)
13.48 (20m) (d) of the statutes is created to read:
(d) 1. The legislature finds and determines that supporting 12
entrepreneurs and innovators, providing facilities for job training, and promoting 13
dynamic community revitalization and development are of vital importance in
creating jobs and contributing to economic development and tourism in this state 2
and are statewide responsibilities of statewide dimension. It is therefore in the 3
public interest, and it is the public policy of this state, to assist the Incourage 4
Community Foundation, Inc., in redeveloping the former Daily Tribune building in 5
the city of Wisconsin Rapids into an economic and community hub.
2. The building commission may under this subsection assist the Incourage 7
Community Foundation, Inc., in redeveloping the former Daily Tribune building in 8
the city of Wisconsin Rapids into an economic and community hub. The state funding 9
commitment shall be in the form of a grant to the Incourage Community Foundation, 10
Inc. Before approving any state funding commitment for redeveloping the former 11
Daily Tribune building, the building commission shall determine that the Incourage 12
Community Foundation, Inc., has secured additional funding for the project from 13
nonstate revenue sources at least equal to the state's grant.
3. If the building commission authorizes a grant to the Incourage Community 15
Foundation, Inc., under subd. 2., and if, for any reason, the facility that is 16
redeveloped with funds from the grant is not used for an economic and community 17
hub, the state shall retain an ownership interest in the facility equal to the amount 18
of the state's grant.”.