Merchants Bank has pledged $50,000 in support of the new community arts center that is part of the proposed Confluence Project in downtown Eau Claire.
“We believe that the Confluence Project and the new community arts center are important for our community, and as a community bank, we believe it’s our privilege to join our neighbors in our support,” said Merchants Bank – Eau Claire President Mark Willer. “We expect that the project will contribute significantly to both the cultural and economic development of Eau Claire and the entire Chippewa Valley. One of the cornerstones of the Merchants Bank philosophy is to support its customers and the communities it serves by donating volunteer time and making monetary contributions to important community projects.”
Merchants is a full-service bank and is a regional leader in mortgage and business lending. The Eau Claire location, just off London Road, opened in February of this year.
The Confluence Project is a proposed revitalization of property commonly referred to as the “Haymarket Site” at the confluence of the Chippewa and Eau Claire rivers. The public-private partnership seeks to construct a community arts center, which is the centerpiece of the project. A privately developed commercial/retail complex that includes housing suitable for University of Wisconsin-Eau Claire students also is part of the project.
The Eau Claire City Council has pledged $5 million in city funds toward development of the community arts center. The arts center project also seeks $25 million in state funding and $5 million from Eau Claire County. The remaining arts center construction costs are sought from donations and tax credits. The $26 million commercial/retail and student housing complex is being privately financed.
Other members of the Confluence Project public-private partnership are Haymarket Concepts LLC, composed of Market & Johnson Inc., Commonweal Development Corp. and Blugold Real Estate LLC, a subsidiary of the UW-Eau Claire Foundation, the Eau Claire Regional Arts Council, and UW-Eau Claire. For information about making a commitment to the Confluence Project, contact Wally Rogers, Confluence campaign director, at email@example.com or 715-225-8685.