It appears the City of New Holstein is still on schedule to have the former Tecumseh Products Company facility razed starting sometime around April, according to information presented at the Wednesday, Dec. 16 meeting of the New Holstein Common Council.

That information included a detailed plan on how the demolition will be financed presented by Phil Cosson of Ehlers, Inc.

The bidding process is expected to take place in late January or early February with funds being available in late February or March, after which demolition could begin.

Cosson said city officials are currently using the figure of $2.3 million in costs associated with the demolition, a figure which already has been lowered from original projections. A more definite number will be available after bids are received.

Cosson told aldermen a key part of paying those costs is the $910,660 Community Development Block Grant Close funds which the city was notified it would be receiving. Those funds will allow the city to pay down a large part of the demolition debt quickly, thus saving interest costs over time.

Several other financial avenues are likely to be used as well to pay off the debt.

(For more on this story, please see the Dec. 24 issue of the Tri-County News.)

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