Local News
Impact statement says plus-$40 million in La Crosse Center renovations bring little in return
An economic impact statement doesn’t look good for the $42 million renovation of the La Crosse Center.
Mainly because the renovations would need to spend $5 million more to make just $80,000 in profit a year.
The report from the Gensler Company left the Center board of directors with their doubts on whether the payoff is worth it. A return of about 1 percent on that extra spending didn’t sit too well.
“This does not justify spending more money, in my opinion, until you can give me a much more detailed and better report,” board member Phil Addis told consultants Monday over a telephone conference call.
Details he needed before asking the city council to approve any expansion plan.
The Gensler consultants said the building option which would lead to the most revenue for the city is one priced at close to $50 million.