STEVENS POINT, Wis. (WSAU) — Tuesday night could be the night when Stevens Point decides once and for all what to do with a senior housing facility. Edgewater Manor was built in 1978 and 1979 as a federally subsidized low income senior housing structure. HUD no longer subsidizes the the operation or maintenance of the building. Until recently, Edgewater Manor was dually-controlled by the City of Stevens Point and the Redevelopment Authority. Now, it’s entirely up to the city council what happens to it.
The city council held a special informational meeting September 9th to discuss what repairs or renovation is needed at the 80-unit structure. Community Development Director Michael Ostrowski says the alderpersons have had a month to study their options. He says, “The intent was with last month, we would provide a history of Edgewater Manor and some potential options for the property for the council to consider. This upcoming meeting will be a chance for the council to take further action, whether it wants to proceed with doing some of the repairs, or whether it may look at other options with the facility.”
The city could keep it and arrange for the repairs, or it could decide to sell the property. Selling Edgewater Manor has been very unpopular with the residents, who urge the city to keep it so they can be assured the building will remain affordable for seniors. It has come close to being sold before.
Ostrowski is expecting the council to give him direction tonight. “If the council decides to keep the property and wants to proceed with providing or doing the repairs, we’ll look at going out and getting additional cost estimates or bids for the repairs, and if the council decides to look at other options such as selling the facility, then we’d be looking at going out and getting offers or doing RFP’s (Request For Proposals) in order to get offers for the facility.”
If the city chooses to keep Edgewater Manor, it could borrow to make the improvements. Dollar figures range from 1.5 million for the short list to over 5.4 million for a full renovation. If the city borrows 5.4 million, Comptroller Treasurer Corey Laddick told the council they could levy for the debt service, adding about 19 dollars to the tax bill for a $100,000 dollar home.
If the city chooses to keep Edgewater Manor, repairs and improvements could cost from 1.5 million for the short list to over 5.4 million for a full renovation. If the city borrows 5.4 million, Comptroller Treasurer Corey Laddick told the council in September they could levy for the debt service, which would add about 19 dollars to the tax bill for a $100,000 dollar home.