Green Bay Reporter

The city of Green Bay has received a $5 million grant for its western shipyard project through the National Park Service. 

The concept of these grants were first pitched seven years ago, according to a report from Fox 11 News.

Public officials were pleased with the progress of the project.

“The city acquired that property from Fort Howard decades ago and it's been difficult for us to articulate a vision that was realizable and now we're getting much closer" Green Bay Mayor Eric Genrich said Tuesday. "It brings us much closer to actually fulfilling that original vision of the Shipyard."

Details on the first phase of the project have been revealed.

The first part of work to be done will be a riverfront promenade, including floating docks, a fishing pier and a kayak launch. That work should cost just less than $8 million. This is coming from the $10 approved four years ago for an entire shipyard project.  $3.6 million has already been spent on the project, so the city's Redevelopment Authority approved borrowing $2.6 million more to get all of phase one work finished.

Officials view the project as cause for optimism.

“Even in this economy the fact that we've got two developers that are still moving forward, they're still investing time and money, that is a good sign" said Neil Stechschulte, Green Bay’s economic development director. 

City officials have estimated the two projects will have a combined value of about $43 million. They're feel the tax revenue generated from them and more will cover the money borrowed for the public amenities.

Phase two of the of work will include great lawn, a dog park, an urban beach, and a playground. City officials say the National Park Service grant will need some investment from the city. They are unsure if the phase one expenditure can be counted toward that condition.

The city has already received $1.8 million in grants. The city is looking for phase one amenities to be ready next spring with construction on phase two beginning next summer. The start of construction on the Merge apartments will probably be pushed out to next year due to soil issues.

Impact Seven also hopes to start construction on its apartments early next year. Under its development agreement, Merge could receive up to $7.5 million back from the tax revenue the apartments generate. Impact Seven still needs to negotiate a development agreement, but its term sheet with the city calls for it to receive 70% of the tax revenue its apartments generates through 2042. The purchase price for the property would be $400,000.