TOWN OF SHEBOYGAN—Sarah Godlewski, State Treasurer and Chair of the Board of Commissioners of Public Lands (BCPL), announced last week that the BCPL will be adding $9.5 million to financing the Town of Sheboygan's North Town development.
According to Town of Sheboygan Chairperson, Daniel Hein, the funding provided will help finance the public infrastructure required for the development including the design and construction of streets, sanitary sewer, water and stormwater management facilities.
"I want to express the Town’s sincere appreciation to the Board of Commissioners of Public Lands for approving this financing. It has made our North Town development possible,” Hein said in the news release.
On June 9, the Town of Sheboygan held the official groundbreaking ceremony for the project—a 99-acre mixed-use development located northeast of the I-43 and WIS 42 interchange. The development, which is a collaboration between the Town and Van Horn Development, will consist of over 600 residential units in pocket neighborhoods, retail and commercial space, a hotel, a public Town Square.
North Town is anticipated to add more than $48 million in improvement value to local tax rolls.
“Supporting communities like the Town of Sheboygan is a top priority,” Godlewski said in the release. “This funding will help provide new housing opportunities and create new community spaces while ensuring local property taxes are unaffected. It’s an exciting initiative and I look forward to seeing the project’s positive impact on the Sheboygan community.”
The funds are coming from the BCPL's State Trust Fund Loan Program, which provides competitive loans to municipalities, school districts and more and has financed over 300 projects, totaling over $150 million.