Nonprofit forms to buy Wausau mall, will make formal presentation Tuesday

WAUSAU, Wis. (WSAW) -- A Wausau-based nonprofit formed solely to buy the Wausau Center Mall will present its proposal Tuesday night.

City records state Wausau Opportunity Zone Fund, Inc., or WOZ is funded by local philanthropic foundations. The request says their goal is to use the mall to support quality of life, and long-term economic benefit of taxpayers.

WOZ is asking the city for $1 million forgivable loan. The acquisition is contingent upon WOZ entering into an agreement with the city.

The meeting is scheduled to begin at 6 p.m. at City Hall.

NewsChannel 7 will have a reporter at the meeting will update this article with developments.