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Hancock is in a unique position following an announcement that Finlandia University plans to close its doors after May. Since then city leaders stated their disappointment in the circumstances and wished to support students and faculty through this tough time.
“So we don’t really have too much of an update. It’s a really tough situation for the students and faculty. And they, at this point, are the most important component of the closure. So, I think people are just curious, and they want to stay informed about what is possible in the future. And we are actually going through our master plan, in the next couple of months. So this will kind of go along with that.” – Mary Babcock, Hancock City Manager
City Manager Mary Babcock knows that those affected are hurt by the situation. But she also wants the city to continue its focus on redevelopment and the future. The university’s campus in the heart of downtown Hancock sits on approximately eight square blocks. Which is a large swath of land that Hancock has not been able to collect property taxes on.
“We are somewhat fortunate that we don’t rely on property taxes from Finlandia University because they are a non-profit. So on that side of it, there won’t be any direct impact on the city. So, of course, the amount of property that Finlandia owns, you could look at that as a negative, but it is also a time for growth. The city is now set with Redevelopment Ready Certification, and we have a lot of processes and opportunities, I think as we move forward. So, I’m not going to necessarily look at it as a negative. Because it is a possibility to increase our tax base.” – Mary Babcock, Hancock City Manager
Hancock City leaders intend to meet with Finlandia university leadership over the coming weeks to gain a better understanding of how the closure may affect the city and residents. As well as identify assets that residents want to be protected such as Old Main St Mathews Church, and the President’s house.
“Of course, we will look at the opportunities that are out there, just like any other entity. To see if there is something that can benefit the city. Right now we do have the community gardens, which are on Finlandia’s property, the Ryan Street Community Gardens. So we will look at trying to obtain that property for sure. But we do not have any other plans to acquire property.” – Mary Babcock, Hancock City Manager
We hope to continue our coverage of Finlandia Univerity’s closing and its effects on Hancock and the surrounding area over the coming weeks.
