STAR JOURNAL REPORT
The former site of a Pizza Hut in Rhinelander could become the location of a new Associated Bank branch bank.
On behalf of Associated Bank, the Milwaukee-based Rinka Chung Architecture last month provided the city’s Planning Commission with the proposed design for 304 Lincoln St.
Under the proposal, Associated Bank would remove the existing structure in its entirety and replace it with a single-story, 2,700-square-foot branch bank, which would have a three-lane drive-thru and front onto Lincoln Street.
Along with surface parking for 18 vehicles, Associated Bank wants to use a 23-foot strip of city-owned land “to better facilitate parking and circulation on the site.”
Rhinelander’s Finance, Wage and Salary Committee has recommended to the full City Council, for final approval at Monday’s meeting, that the strip of land be leased for Associated Bank to use.
The initial lease term of 25 years would be for $100 a year and could automatically renew for eight successive five-year terms, unless the bank provides written notice 210 days prior to the expiration of the current lease term.
However, committee members decided to remove language out of the proposed lease agreement that would have provided the bank with an option to purchase that strip of land, noting that previous offers to buy city-owned land were not approved.