MUKWONAGO — A California-based
company purchased a swath of land from Mukwonago’s 115-acre
industrial park for $1,050,000 following a closed session discussion
on the matter Wednesday night.
Malcolm, headquartered in California, is a specialty foundation
contractor with several locations across the nation, including an
office in Wales, Wisconsin, according to the company website.
The deal between the village and Malcolm for the 9.6 acre parcel is
a “cash only deal,” meaning the sale of the property is not through
the village’s Tax Incremental Financing District on which the
industrial park is located, said John Weidl, village administrator
and economic development director.
“It’s straight cash for land,” Weidl said. “There is no TIF
Weidl anticipates that Malcolm will construct a 15,000- to 20,000-
square-foot building where the company will house large drilling
equipment and more. This marks the fourth business to inhabit the
business park since the park was proposed just under a year ago.
The Village Board also met with Anderson Commercial Group Vice
President Ray Goodden, who had expressed interest in purchasing land
from the industrial park. However, Weidl said no action was taken on
When Mukwonago purchased the 115-acre industrial park for $3.28
million, a tax incremental financing district was created to fund
the project. Tax incremental financing allows municipalities to
funnel tax money into improvements within a geographic district.
After a TIF district is created, a portion of the property taxes
generated on new developments within the district, called
“increment,” goes into a pot that can be used to pay for
improvements, like environmental cleanups, road construction,
demolition projects and in some cases, financing and incentives to
attract or fund private development.