OnFocus – At Thursday’s Economic Development Board meeting, the group discussed options for new housing in the City of Marshfield.
The first option presented by member Josh Miller (Development Services Director for the City of Marshfield), is a mixed-use TIF concept. The concept is a state project which helps cities put in infrastructure like roads, sewer systems and water systems.
Miller informed the board that this option is complex and involves a series of stipulations including having more than two homes per acre of developed land. When roads are included in that land, Miller stated that the city would almost need to have three houses per acre of available land.
The second option involved the city developing a new subdivision on its own. This process would be much less complex and would be a quicker solution as opposed to the TIF concept.
Miller estimated that the infrastructure costs would be around $900,000 to $1 million with the total project costing the city $1.2 million – $1.4 million.
Realtor Ashley Fredrick attended the meeting and informed the council that the current state of the housing market in Marshfield is in peril.
“Right now, we have more realtors in the City of Marshfield than we have homes for sale,” Fredrick said.
She added that the city has 20 homes currently listed within the city limits and 15 of those listings have been on the market for more than 60 days. She said she estimates 60 or so of her clients alone have chosen other municipalities to live in due to the lack of housing available in Marshfield in the last couple of years.
Fredrick told the council that the market is so competitive that the developed lots would sell very quick and it could be before construction is even completed.
Miller explained that even though the city would have to front the cost of the infrastructure, partnering with builders to pre-sell the lots would help offset that cost.
The board members expressed their support of getting something done in terms of development.
Alderman and member Adam Fischer was in support of doing both projects, starting with the city subdivision and then moving forward with the TIF project. The motion to bring the idea to the common council passed unanimously.
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