The Business Journal of Milwaukee has a rather distressing story for those of us in Oak Creek. The U.S. Postal Service has decided to delay building its planned $80 million mail processing and distribution center on the old Van Beck property at College and Pennsylvania at least a year because of their current financial condition.
Buried in that story is a real stinker of an item, especially for those that opposed the facility. The USPS bought the property from Cobalt Partners, the developer-of-record, last month for $8.1 million, after Cobalt spent $4.6 million assembling the property from the estate of the Van Becks, two other individuals, and the city. That’s right; it’s now exempt from taxes.
I sent an e-mail to Mayor Dick Bolender this morning asking for clarification on another item of interest; whether this change in ownership affects a previous agreement from Cobalt Partners to pay for part of the reconstruction of College and Pennsylvania that is scheduled to begin this year. When and if I hear back from the mayor, I’ll update this post with the answer.
