Story originally printed in the La Crosse Tribune or online at www.lacrossetribune.com
Published - Friday, August 27, 2004
Keil offers $50,000 for Amtrak depot
Local developer Mike Keil has submitted the lone proposal to buy the Amtrak Depot.
Keil, who has developed Jackson Plaza and wants to renovate the Doerflinger building, answered the city's May 24 request for proposals to buy the 1926 Milwaukee Road depot at 601 St. Andrews St.
The Amtrak Selection Committee will consider the proposal Wednesday.
"The issue is whether the city wants to sell," said Public Works Director Pat Caffrey. Though the La Crosse Common Council voted to ask for proposals, he said some staff and council members think the city should not sell the building.
If high-speed rail becomes a reality, he said, some thought the city's chances of getting it to stop in La Crosse might be better if the city owns the depot.
Keil has made his proposal to buy the depot with Marvin Wanders, owner of Heritage Property Management. Together, they bought the Holmen Square Shopping Center in January and were to begin exterior renovations this summer. They also have bought 320-322 Main St. and remodeled it.
Keil and Wanders propose buying the depot for $50,000.
Their proposal calls for office use in the space remaining for lease in the building. They would target engineering consulting firms, and construct a detached shop/storage/garage building for consulting and surveying crews to load equipment.
Office use would be compatible with the neighborhood, they say, because it would be daytime activities without much additional traffic and minimal night activity.
The depot contains 13,000 square feet, of which Amtrak occupies about 2,000, Caffrey said.
It has three additional tenants including Jefferson Lines, which has opened its office and bus station there, he said. The three tenants occupy a total of 5,000 square feet.
The city created a Tax Incremental Finance district to renovate the depot and do several projects in the neighborhood including rebuilding streets, storm sewer, sidewalks and street lighting.
The total cost of those improvements, not counting the cost of borrowing the money, was $2.6 million, said City Engineer Randy Turtenwald. The city received a federal grant of about $1.1 toward the renovation, he said.
The city has until Aug. 14, 2020, to pay off the depot TIF, said Assistant City Finance Director Wayne Delagrave. As of Dec. 31, 2003, he said the balance was about $1.7 million.
Joan Kent can be reached at (608) 791-8221 or jkent@lacrossetribune.com.
All stories copyright 2000 - 2006 La Crosse Tribune and other attributed sources.