MENOMONEE FALLS Kohl's Corp. will repay $2 million
advanced by the Village of Menomonee Falls to help
the company finance the construction of a $250
million corporate headquarters.
Kristen Cunningham, a spokeswoman for Kohl's, and
Falls Village Manager Mark Fitzgerald both confirmed
to The Freeman that the company intends to return
the money to the village.
Kohl's received the $2 million last year as part of
an agreement between company and Menomonee Falls for
the new headquarters; the village was to provide the
land in the Woodland Prime Office Park near the
intersection of Good Hope Road and Appleton Avenue.
However, Kohl's announced Nov. 21 that it no longer
intended to construct its new headquarters. Instead,
it plans to acquire the 300,000-square-foot former
Inno Ware building in the Silver Spring Corporate
Park and convert into the Kohlıs corporate facility
for its IT associates.
Kohl's also entered an agreement to purchase the
former ProHealth Care medical building at the Silver
Spring Corporate Park for an associate wellness
center and an associate fitness facility.
Fitzgerald said the repayment will be made sometime
in the first half of 2014, after provisions in the
development agreement are amended. He described it
as a "long process" because the village and Kohl's
will "have to exchange real estate."