Should it all come together, the City of Rhinelander is a step closer to helping a local plastics firm with a $15 million expansion.
The common council authorized City Administrator Daniel Guild to put together a $600,000 business development grant from the Tax Incremental Financing District or TIF.
Alderperson Lee Emmer brought up a concern that there wouldn't be enough money coming back to city to offset the incentive package...
"The money's not there".
City Administrator Daniel Guild said the financial information was given to the city's financial advisor Sean Lentz who said the money is there..
"..I have an affirmative recommendation from Mr. Lentz that the district will be able to support the $600,000 site improvement grant, if the $15 million of added increment is constructed before the end of the expenditure period in September of 2020...."
Oneida County Economic Development Executive Director Stacey Johnson says the company will have enough of the improvements in place by the end of next year to achieve the conditions of the grant. She says the expansion will bring jobs here...
"...So it's an incredible project, something we're very excited about..."
Johnson says the there will be more public information on the project coming out.
