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Read the press release - OakLeaf Surgical Hospital

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					FOR IMMEDIATE RELEASE: June 15, 2012

Contact: Mike Golat, Altoona City Administrator 715-839-6092. michaelg@ci.altoona.wi.us
         Mayor Jack Blackburn 715-514-0713. jsblach@gmail.com


       City of Altoona Approves Development Deal With OakLeaf Surgical Hospital

Altoona, Wisconsin. At Thursday’s Altoona City Council meeting, Council members
unanimously approved a sales and development agreement with OakLeaf Surgical Hospital, LLC
for development of an 84,000 square foot medical facility in Altoona. OakLeaf is a leading
provider of surgical services in the Chippewa Valley, and receives clients from across the United
States.

The new facility, which will be constructed on a 10 acre parcel near the intersection of 10th Street
and River Prairie Drive, will be the first commercial project in the River Prairie development
area. “This is a partnership that will set a standard of quality for all development that follows in
River Prairie,” commented Altoona Mayor Jack Blackburn, “The partnership is a win-win with
OakLeaf bringing jobs and tax increment and the City providing a beautiful site that is highly-
visible, centrally located and easily accessible.”

In order to encourage the hospital to relocate to Altoona, the City approved a development
incentive of $2 million dollars to be paid to OakLeaf after the hospital is constructed. It is
expected the hospital will generate a minimum property tax valuation of $25 million, which will
provide approximately $475,000 of additional local tax revenue annually. The tax revenue will
be used to pay any debt incurred for the development incentive.

The project will initiate the permitting phase in the coming weeks, and there will be several
opportunities for public discussion and input during review at both Plan Commission and
Council meetings. Installation of infrastructure to the site is expected to begin in July, with
building construction beginning this fall.

				
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