Wausau Community & Economic Development

Business Assistance

Business Assistance > Loans & Programs

Loans & Programs

COMMERCIAL BUILDING & FAÇADE RENOVATION

The City's Commercial Rehab Loan program offers low-interest, deferred loans for exterior and façade renovations and code compliance work being done to existing commercial buildings.

Commercial Rehabilitation Loan Guidelines
Commercial Rehabilitation Loan Application

 

REVOLVING LOAN FUND

The City partners with the Marathon County Economic Development Corporation (MCDEVCO) to provide loan resources to small businesses. Funds are available for projects that create and retain private sector jobs, increase tax base, and leverage private investment. The RLF committee will review the loan application for:

  • The viability of the business concept 
  • The potential of the business for growth and job creation 
  • The credit history of the applicant and soundness of the business plan
  • The ability to repay from cash flow 
  • The number and type of jobs to be created 
  • The benefit of the project to the community

Application packets and completed business plans submitted to the RLF committee with a letter of commitment from a local financial institution for matching conventional financing is required for consideration. For more information contact Jim Warsaw at MCDEVCO, Inc., 300 North 3rd Street, Suite 207, Wausau, WI 54403 or (715) 298-0084.

 

DOWNTOWN WAUSAU RIVER DISTRICT (MAIN STREET)

Wausau's River District, the designated Main Street is a comprehensive revitalization program that promotes the historic and economic redevelopment.  The River District provides:

  • Onsite business consultation to business owners and managers in areas such as marketing, business planning, advertising, financial analysis, inventory control and more.
  • Programs events and helps businesses on recruitment and retention programs. 
  • Coordinates onsite design assistance.
  • Provides resource materials and programs under the State's Main Street program.

The office is located at 316 Scott Street, downtown. Please contact Blake Opal-Wahoske at 715-297-1829.

 

TAX INCREMENT FINANCING (TIF) DEVELOPMENT 

The City has established TIF Districts where tax increment financing tools can be used for construction, renovation and business expansion.

  1. Economic Development
    • Create Jobs through Attraction, Retention, Expansion of Existing Business
    • Create Jobs through New Business Development
    • Add Value to Properties to Increase Tax Base

    • Strategies to Support Economic Development
      • Upon demonstrating that "but for" TIF a project could not otherwise be built; provide financial assistance to new and existing businesses whose projects create living wage jobs
      • Improve the public infrastructure
      • Support development of industrial sites and business parks to attract new industries and provide suitable locations for expansion and relocation of existing industries
  2. City Revitalization
    • Blight Removal
    • Urban In-fill
    • Historic Revitalization
    • Adaptive Re-use
    • Affordable Housing
    • Higher Standards of Building Design and Materials

    • Strategies to Support Revitalization
      • Improve the public infrastructure
      • Upon demonstrating the "but for," provide TIF assistance to private development projects that:
        • Provide a variety of housing choices, through renovation and rehabilitation of existing buildings and higher-density new construction in selected areas to increase the number and diversity of downtown residents
        • Stimulate the rehabilitation or removal of deteriorated or dilapidated buildings and the creation of mixed-use in-fill redevelopment
        • Provide the full range of basic neighborhood goods and services
        • When feasible, provide assistance to businesses that create a significant number of living wage jobs
        • Provide transportation linkages and other urban amenities
        • Advance housing objectives of the Wausau Comprehensive Plan

Please review the City's TIF Development site for more information.