Special Legislation for Town of Cable Clears the Senate
On Tuesday evening February 20, 2018 the Wisconsin State Senate voted unanimously to pass SB-505, a bill to allow the Town of Cable to act like a village in regard to the creation of a Tax Incremental District. The Assembly passed an identically measure on Jan. 23rd, also by unanimous vote. The bill is now headed to Governor Walkers desk where he is expected to sign it into law.
Current legislation precludes towns with a population under 3500 from creating a tax incremental district. The bill is seen as a major step towards giving the Town of Cable the ability to offer financial assistance to potential developers of the historic Telemark Resort. HK Hospitality LLC is currently in negotiations to purchase the property and undertake a major revitalization of the famed resort.
“This is historic for Cable and all of N.W Wisconsin”, says James Bolen, executive director of the Cable Area Chamber of Commerce. “To give a small municipality the ability to work with potential developers on a project that would benefit the region is critical but to pass a piece of legislation unanimously is rare and shows broad-based support for a potential Telemark Resort project”.
Jim Kelley, partner with HK Hospitality LLC says they are encouraged by the vote. “Negotiations with the current owners of the property are still ongoing and the issues that have slowed the process are being resolved. New investment companies are expressing interest in this project and we remain optimistic about the potential of the Telemark Resort project”. Kelley concluded by saying “The Senate vote shows the legislature values the Town of Cable having the ability to keep the proposed project moving forward”.
For more information contact the Cable Area Chamber of Commerce at 715.798.3833 or firstname.lastname@example.org