PRESCOTT — Big things are happening in the city of Prescott.

The City Council Monday night took the first steps toward purchasing 150 acres of land for future development, along Highway 10 adjacent to the Eagle Ridge Business Park.

“The city is looking to purchase 150 acres of land from Sears, LLC. The land is directly east of our existing business park. The council has decided to move forward with additional economic development,” said City Administrator Jayne Brand. “The land will be purchased with funds from Tax Increment District #5. TID #5 has a final date we can spend money of June 26, 2021, so if we want to purchase the land without using general tax dollars, we need to get the purchase completed, tax increment district amendment, annexation and zoning done.”

With the speed of how fast the business park was completed, it makes sense to expand. Brand said “for every tax dollar which comes in from commercial and industrial, the city spends about 60 cents in services. For residential, for every tax dollar which comes in, we spend about $1.30 because of the need for schools.”

The matter become public at Monday night’s City Council meeting because of the need to move ahead with hiring consultants to help the city complete the deal.

The city agreed to spend $4,800 with its engineering firm, Cedar Corp., for wetland delineation on the site. In addition, because of the complicated nature of Tax Incremental Districts, the city is contracting for legal representation in the matter with the Eau Claire firm of Ruder Ware. Their hourly rates range from $145 to $400.

“This is the first time some people are hearing about the Sears property,” Brand said at the meeting. “So, we’ve already had discussion with the Sears group, and they are willing to purchase.”

The land is currently zoned for agricultural use.

For more on this story and the City Council meeting, see next week’s edition of The Journal.