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The original item was published from 3/29/2011 3:27:00 PM to 3/29/2011 3:27:30 PM.

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City of Stevens Point News

Posted on: March 21, 2011

[ARCHIVED] City and Valley Bank Sign Offer to Purchase CenterPoint MarketPlace

The Mayor of the City of Stevens Point announced today that the City of Stevens Point and Valley Bank have reached an agreement on purchasing the CenterPoint Marketplace in downtown Stevens Point.

The Mayor of the City of Stevens Point announced today that the City and Valley Bank have reached an agreement on purchasing the CenterPoint MarketPlace in downtown Stevens Point. “We have said for several days that negotiations and conversations were ongoing and that things had not stalled,” said Stevens Point Mayor Andrew Halverson.


“This agreement needed to be worked through cooperatively with both parties, as each of us had different matters that needed to be resolved in order to protect our respective interests,” Halverson said. “Valley Bank has accepted our contingencies: environmental testing, working with Shopko, and prorating the taxes, and the sale price of our original $1.875 Million,” Halverson added.


“This agreement will give us three weeks to complete our work and wrap up our contingencies, and at that point we will be able to close on the property. This agreement really lays the groundwork to ensure that our tremendous plan to move Midstate Technical College downtown can proceed without delay; and that the long anticipated redevelopment of our great central city can proceed. The most important part of any negotiation is that both parties work through their differences and listen to the needs of each other, and hopefully find resolution to the matters; thankfully that is what happened here” Halverson added.

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