tag:blogger.com,1999:blog-3426800777521979578.post1421614130001921572..comments2024-02-20T19:58:27.733-06:00Comments on Jake's Wisconsin Funhouse: More Bucks updates and readingUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3426800777521979578.post-71353406346517548552015-06-03T11:52:26.614-05:002015-06-03T11:52:26.614-05:00I've talked a lot on these pages about the pro...I've talked a lot on these pages about the property tax exemption that's part of any "ancillary development" with the arena , because I think that's the worst part of the legislation. Local governments like the City of Milwaukee can't raise their own sales tax to increase tax base, so they have to get it off of increased property values. Taking that ability away makes the project idiotic from a local government point of view.<br /><br /> Interestingly, <a href="http://www.bizjournals.com/milwaukee/blog/real_estate/2015/06/bucks-owners-400m-park-east-plan-shows-300-room.html" rel="nofollow"> Sean Ryan has an article in the Milw Biz Journal today </a> that indicates the new developments are not a "bar mall" and would not be tax exempt. <br /><br /> Something doesn't add up here, and we need to see a modified bill on paper alongside the complete plans<br />Jake formerly of the LPhttps://www.blogger.com/profile/15660401299391001751noreply@blogger.comtag:blogger.com,1999:blog-3426800777521979578.post-40498380063378731502015-06-03T09:37:12.519-05:002015-06-03T09:37:12.519-05:00More related reading: http://www.jsonline.com/new...More related reading: http://www.jsonline.com/news/milwaukee/city-officials-warn-of-another-possible-wave-of-foreclosures-b99456635z1-295206031.htmlCJhttps://www.blogger.com/profile/04833070877059285634noreply@blogger.comtag:blogger.com,1999:blog-3426800777521979578.post-20938687921913813012015-06-03T00:51:06.058-05:002015-06-03T00:51:06.058-05:00The biggest issue no one is talking about is that ...The biggest issue no one is talking about is that the $500-million arena project includes a separate "entertainment" mall. It will be built with public money and managed by a state entity and include a massive outdoor sports bar. It would be tax-exempt as part of the arena. <br /><br />The Bucks also want to be master developer for 30+ total acres--additional development that may or may not be taxed--but this bar mall is absolutely part of the basic arena project. A state-owned bar mall is so outrageous many just try to deny it's happening. But a state senator's aide confirmed that as of 6/1 it's still in the funding plan.<br /><br />Mayor Barrett and Exec Abele are all in. A $25-million city-owned parking structure would be torn down to make way for the bar mall. The new "Tom Barrett Parking Garage" (as JS staff are calling it) would be built for $35M a block away. That's how billionaires roll, not broke governments. <br /><br />Citizens need to insisting on funding schools, parks, health care, etc., not bars. Milwaukee Nativenoreply@blogger.comtag:blogger.com,1999:blog-3426800777521979578.post-14739725718641613022015-06-02T06:45:39.280-05:002015-06-02T06:45:39.280-05:00Off topic but related reading.
"Why Would ...Off topic but related reading. <br /><br />"Why Would the State Give $220 Million to Someone Whose Company is Destroying Milwaukee Neighborhoods?<br />Common Ground shines a light on Wesley Edens’ crumbling foreclosures<br /><br />On a cold Thursday morning in Milwaukee, over 30 Common Ground leaders, students, and neighbors held a press conference in front of a crumbling duplex on North 44th St. No one is paying taxes on the vacant building, and it has 23 code violations. It is only one of 300 foreclosed properties controlled by Nationstar Mortgage.<br /><br />Wesley Edens owns the majority of the stock and is Chairman of the Board of Nationstar Mortgage Company. According to a plan Governor Walker announced Tuesday, Edens is about to receive $220 million in Wisconsin taxpayer dollars to help him build an arena for another of his properties, the Milwaukee Bucks."<br /><br />http://urbanmilwaukee.com/pressrelease/why-would-the-state-give-220-million-to-someone-whose-company-is-destroying-milwaukee-neighborhoods/CJhttps://www.blogger.com/profile/04833070877059285634noreply@blogger.com