Milwaukee Post
Issue link: https://www.ifoldsflip.com/i/566381
By DAVE FIDLIN Special to The Post MILWAUKEE — With a decision waiting in the wings, a Milwaukee panel this week heard an earful from residents for and against a plan to contribute $47 million in municipal funds to help bring the Bucks' new $500 million arena to fruition. In a debate reminiscent of the dialogue exchanged at the state and county levels, proponents of the financing plan are imploring city offi- cials to help invest in a transformative effort. Opponents, however, ques- tion spending priorities with rising crime and crum- bling infrastructure in some sections of Milwaukee. The Common Council's Steering and Rules Committee on Monday heard from dozens of resi- dents during a public hear- ing that spanned more than two hours. Rocky Marcoux, the city's development commissioner, laid out the framework for the proposed funding plan at the hearing. Marcoux and other city officials repeatedly stated the funding would not come directly from the general operating budget that is funded through residents' tax dollars. Instead, two tax- incremental financing, or TIF, districts in the down- town would be tapped into as funding sources. TIF is a mechanism that allows municipalities to borrow money for infra- structure improvements. The increased property tax revenue from the improved land is then diverted from the tax rolls to pay off the loan. At its core, Marcoux said the city's financing plan entails allocating $35 mil- lion to build a parking structure with 1,243 spaces near North Sixth Street and West Juneau Avenue. While the city would own the structure, it would share revenue with Bucks owner- ship in a 50-50 split. The remaining $12 million in the plan would go toward developing a 130,000-square- foot outdoor public plaza that has been eyed for space between the proposed arena and the larger-scale enter- tainment district. Bucks President Peter Feigen spoke at the hearing and reiterated some of his past comments, which have included a goal of turning the arena and its surround- ing amenities into a world- class destination. "We have a vision of how we can create a space where people can live, work and play," Feigen said. "This is an area that desperately needs transformation." September 4, 2015 • Milwaukee County Post • 3 Residents provide mixed reactions to city financing of Bucks arena Grass-roots Common Ground speaks out against proposal Submitted rendering Some at a recent public hearing opposed the funding of the proposed Milwaukee Bucks downtown arena, but said they were in favor of the building. Hearings will continue this month. See ARENA on Page 10 PACKARD PLAZA MALL 5656 S. Packard • 414-897-7737 245569177 Hours: Tues -Fri 10-7pm Saturday 9-5pm FREE Roll of Bathroom Tissue SALE ENDS 9-11-15 Just Bring In This Ad SALE ENDS 9-11-15 Pizza Cutter 50 ¢ Glass Cleaner 75 ¢ Nail Polish 75 ¢ Fall Plates & Napkins 75 ¢ Pk 12 Pk Cards-Birthday, Get Well, etc. 90 ¢ 100 Disposable Gloves $1.00 Duct Tape $1.00 Assorted Dog Toys $1.00 Long Sleeve T-Shirts $1.50 Fashion Scarves $2.50 Testor Models $5.00 Packer Clocks $18.00 Just Bring In This Ad ❑ Yes, I want my FREE subscription to the Milwaukee County Post mailed to my home every week. (Free delivery available in the following zip codes: 53110, 53129, 53130, 53132, 53154, 53172, 53204, 53207, 53214, 53215, 53219, 53220, 53221, 53227, 53228, 53235. Bill will be sent to homes outside of these zip codes.) Name: ______________________________________________ Address: ________________________________ Apt#: ______ City: ______________________ State: ____ Zip:____________ Phone: ______________________________________________ Signature: ____________________________________________ (Postal regulations require a signature) Date: ________________________________________________ CURRENT SUBSCRIBERS MUST RE-SUBSCRIBE ★ ★ TIME IS RUNNING OUT to continue to receive your FREE Milwaukee County Post Subscription If you haven't already, fill out and mail this form to receive the Milwaukee County Post FREE for the next 3 years. Your action is needed to continue to receive your subscription. You can also respond online at www.gmtoday.com/subscribe MAIL TO: Milwaukee County Post 3397 S. Howell Avenue Milwaukee, WI 53207 245590001 Questions? Please call 262-513-2680