VILLAGE OF COTTAGE GROVE, WI
Market and Economic Feasibility of Proposed I-94 Business Park

S. B. Friedman & Company prepared a market assessment and economic feasibility study for a proposed business park at I-94 and County Highway N , east of Madison in Cottage Grove , Wisconsin . The first phase included a detailed market assessment for the site including research and analysis of competition, projections of demand, and estimates of land absorption and market price.

The second phase consisted of an economic feasibility analysis, including working with MSA Professional Services on a market-driven development plan, evaluating the underlying real estate feasibility of the proposed development given the alternative financing terms available in the market, analyzing infrastructure cost information, estimating comprehensive costs, projecting sales and revenue, evaluating of financial feasibility, and the identifying alternative development approaches.

We also calculated the potential revenue stream from the proposed development if it were designated as a tax increment district (TID) to estimate a potentially supportable bond issue for infrastructure and land assembly costs. The final component of our analysis presented several different development and business approaches to carry out the proposed development. These approaches take into consideration the potential roles of the landowners, the Village, and private developers.