It was supposed to be StartingBlock Madison’s shining startup star, but now comes word that Sector67 has decided not to move to the high-rise entrepreneurial Cosmos building because it would be unable to take ownership of its own maker space according to terms of a five-year lease. The plan was for Sector67 to occupy 9,000 of StartingBlock’s 50,000-square-foot space.
Ownership would allow Sector67 to take advantage of tax exemptions available to nonprofits. Instead, according to an article in The Capital Times, Sector67 would be forced to pay as much as $30,000 in property taxes as part of a renewable five-year lease agreement.
StartingBlock has time to attract replacements for the space because the building’s completion date has been moved back to 2017 due to city parking discussions. Meanwhile, Sector 67 will remain on Winnebago Street until it can find a new location.
