Politics & Government

Oak Creek Readies For Creation of New Business Park

With a financing agreement in place, a city official says infrastructure work could begin at the new OakView Business Park next month.

Drexel Town Square isn't the only major project in Oak Creek that took big steps forward this week

The Oak Creek Common Council approved a financing agreement Tuesday that paves the way for infrastructure work at the future OakView Business Park site, on Oakwood Road west of Howell Avenue.

City Administrator Gerald Peterson said he expects work to start in September after the council committed to spend about $10 million in tax-incremental financing to help pay for the infrastructure. 

TIF is a mechanism which allows municipalities to borrow money for infrastructure improvements, and use the increased tax increment the improvements help generate to pay off the loans.

City officials say the 220-acre property has drawn a lot of interest. Wispark, which is developing the site, plans a mix of manufacturing, light industrial, office and service uses.

Wispark is hoping construction on facilities will begin in 2014. Sites between three and 25 acres are available for purchase.

In an interview earlier this year, Mayor Steve Scaffidi said data centers and other businesses that need to quickly process data are intrigued by the site because of its location near a very-high-speed Internet terminal. 

The city is also touting the business park's location, near the freeway and airport, with Chicago 80 miles to the south and Milwaukee just to the north.

Wispark, the development arm of We Energies, is also involved in the Drexel Town Square and lakefront redevelopment projects. We Energies agreed to invest $20 million in community projects as part of a deal to construct a new power plant in Oak Creek. 

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