2002 Section 108 Project Summary - Wisconsin

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EAST BADGER ROAD REDEVELOPMENT TO CREATE 100 NEW JOBS
Dane County WI East Badger Road Redevelopment $1,200,000

A Section 108 award of $1,200,000 in loan guarantee assistance will help finance Dane County's 58-acre East Badger Road Redevelopment Project, located in a Neighborhood Revitalization Strategy Area. The project involves construction of a technology park comprising four bio/high-tech buildings, along with the extension of East Badger Road. The loan funds will finance $500,000 in building tenant improvements and $700,000 of road extension costs. The Section 108 assistance is being made in conjunction with a HUD Economic Development Initiative (EDI) grant in the amount of $370,000. Total project cost at final build-out is estimated at $37,150,000. The project is expected to create 100 full-time jobs upon lease-up, principally for low- and moderate-income persons.