CABLE, WI -- Telemark Redevelopment, LLC (TR) is submitting an offer today to the Board of Directors of the American Birkebeiner Ski Foundation (ABSF) through their attorney for the purchase of 258 acres to develop a resort village that would contain two hotels, one an upscale full-service lodge and the other a nationally branded select-service hotel. The development would also include an upscale corporate training center campus for fortune 500 companies, downhill skiing, summer activities, a year-round Chalet with casual food/bar service and entertainment and a modern Concierge Service center to plan and book regional actives.
The offer for ABSF’s consideration is a $1,000,000.00 Package that will cover the cost to purchase the land, a major donation to the ABSF towards their purchase of the larger portion of land they wish to purchase and the cost of tearing down the current Lodge.
TR is hoping that ABSF will seriously consider this offer as it will bolster the local economy in 2021 with 200 workers for over an 18-month construction period and their spend for lodging, meals, entertainment and other spending is estimated to be around $400,000 to local businesses.
In 2022, TR expects guests of the Resort Village to spend on Cable/Hayward businesses $5,762,400 annually on entertainment and retail sales. This project will create wages for 110 full time employees of $2,310,000 annually with an additional 40 part-time employees adding an additional $440,000 in annual wages.
Most importantly in 2022 TR’s project will generate significant Sales Tax and Property Tax Revenue. The 1st Full Year of Operations (2022) it is estimated the combined Sales Tax and Property Tax Revenue would be $1,167,625.00. Room tax revenues to the Town of Cable and the Cable Area Chamber of Commerce are projected at $270,566, Sales Tax Revenues are projected to be $867,625 and the Property Tax revenue of $300,000. Of the total property tax, the amount estimated to support local schools would be $78,000 based on current millage.
TR has significantly upgraded its development capabilities with the addition of James Bishop, President & CEO of WhiteStar Advisors, LLC. WhiteStar among other development projects has vast experience in the Hospitality Industry with such projects as the Ritz-Carlton at Half Moon complex in California, The Westins Diplomat Hotel in Florida, the Hyatt Regency, Minneapolis and the Radisson Blu at Mall of the Americans plus, other highly notable hotel projects.
Last Update: Jun 15, 2020 6:08 pm CDT