I largely agree with Charlie Sykes’ points about the arena deal. It’s bad. Really bad. Structurally and for the taxpayers. Yes, there are tax increases and a $250 million price tag for the taxpayers – at a minimum – but it also has some glaring holes. These are the worst:
That revenue — $93 million — would not be available for 13 years.
The deal also relies on collecting $80 million in uncollected Milwaukee County debt.
There are apparently no plans for cost overruns.
And, of course, there is the fact that this project would be an estimated $50 million cheaper if the same people negotiating this deal would push through the repeal of the prevailing wage laws.