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The original item was published from 3/21/2011 1:31:00 PM to 3/21/2011 1:31:10 PM.

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City of Stevens Point News

Posted on: March 16, 2011

[ARCHIVED] Mayor Andrew Halverson Statement on Mall Purchase and Valley Bank

Mayor Andrew Halverson has released a statement on the mall purchase and Valley Bank to address questions that have arisen over the last few days revolving around the mall project.

Questions have arisen over the last few days revolving around the mall project. What the Common Council did was place very simple protections in place for the taxpayers ensuring that basic things happen: added environmental testing given the past history of the site and the WPS situation, arranging a deal with ShopKo for their agreement, and proration of the taxes.

Those were the only stipulations that were placed on the agreement. Those were put in place to do nothing but protect the taxpayers from future liability. These last few issues are all that remain.

With that being said, the one statement that is very incorrect is that this blows up the deal with Midstate. The City made it very clear in the referendum that they support the idea of Midstate being in downtown; that is exactly what we intend to give the residents. The negotiations are ongoing with Valley Bank, it has not ended and continues today. We very much expect to close with Valley Bank within the next few weeks in a mutually agreeable way.

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