Politics & Government

Wispark Confident in Oak Creek Development Projects

Company president talks about agreement with Oak Creek.

Wispark LLC President Jerry Franke emphasizes the word "investment" when talking about the company's .

Franke said Wednesday that Wispark, a subsidiary of Wisconsin Energy, is dedicated to getting a good return on its $20 million investment into improvement projects throughout Oak Creek. Those projects include the city's lakefront, the former Delphi site and a future business park near Oakwood and Howell.

Wispark believes all three of those projects will provide that good return the company is seeking, Franke said. The agreement features a nice blend of longer-term investments, like the lakefront, while other developments might happen more quickly, he said. 

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Franke also wanted to make it clear that the $20 million is not coming from We Energies rate-payers. Rather, the money comes from shareholders, as well as revenue generated from the development.

The company agreed to invest that money into local community projects back in 2003, as part of the deal to construct its new power plant on Elm Road.

Find out what's happening in Oak Creekwith free, real-time updates from Patch.

On the lakefront, Franke said the company has no specific plans yet but is looking forward to hearing the public's ideas. They will evaluate "the best and the brightest" of those ideas, he said. Oak Creek residents have a chance to give their input at .

Franke also noted the Urban Land Institute's report from 2009, which outlined strategies and potential "catalysts" for redevelopment.

Meanwhile, the economy slowed down progress toward the creation of a business park at Oakwood Road and Howell Avenue, but Franke said efforts toward developing that parcel will soon be renewed. 

The agreement also involves the former Delphi property. The city and Wispark will jointly seek to acquire the land, at 7929 S. Howell Ave., and develop a mixed-use "town center' project.


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