The Platteville Common Council Monday night approved the purchase of the five properties collectively known as the former home of Pioneer Ford Sales at East Pine Street and South Water Street, from Boldt Properties for $982,426.
The city is expected to close on the purchase Oct. 28, although the 6–0 vote — Ald. Barb Daus was absent — allows the closing to be delayed until early December.
The sale includes the main Pioneer Ford building at 75 S. Oak St., the building with the arched roof at 70 S. Water St., the former dry cleaner building at 50 S. Water St., the apartment building at 45 S. Oak St., and the parking lot at 70 S. Oak St.
The purchase agreement includes immediate payment for all but the main dealership building at closing; that building will be paid off by Jan. 8. Director of Community Planning and Development Joe Carroll said that was requested by the seller for tax reasons.
The vote to purchase the properties in April was contingent on the city’s getting grant funding to help pay for environmental assessments and remediation of the properties. The city got a grant of up to $150,000 for environmental analysis and remediation, and a Community Development Block Grant of up to $500,000 to go toward the purchase and demolition of the buildings.
Carroll said the environmental assessment by Ayers & Associates showed no significant environmental issues and “minor environmental items,” including asbestos and some chemicals left over from the building’s past as a dry cleaner.
The purchase and demolition of the buildings will be partly funded by a Community Development Block Grant and partly funded through the city’s downtown Tax Incremental Financing District 7.
“This location is a key part of the 2010 Downtown Revitalization Plan, which was adopted in January 2011, as it is the gateway to our downtown area,” said Common Council President Eileen Nickels in a City of Platteville news release in April. “It is critical to provide an environmentally sound and clean building site to attract potential developers to support the future of downtown Platteville.”
Pioneer Ford moved to East Business 151 in 2012, 50 years after the dealership opened at the Pine and Water site.
