Boots & Sabers

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Owen

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1552, 09 Sep 15

Great Deal for Bucks’ Owners

It appears that the owners of the Bucks can ask for, and get, anything they want from the taxpayers.

MILWAUKEE (WKOW) —¬†Milwaukee leaders plan to announce that a chunk of downtown land has been sold to the city’s NBA team for $1 as part of the drive to build the Bucks a new arena complex

County Executive Chris Abele said in a statement Wednesday that the sale will transform a vacant space into a development that will create thousands of jobs and generate millions in revenue.

The land was appraised at $8.8 million, but Abele’s office says that doesn’t factor in $8.3 million worth of needed demolition and infrastructure work.

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1552, 09 September 2015

1 Comment

  1. steveegg

    But wait, it gets worse. From the MJS story on this:

    But that doesn’t account for the costs of possible additional environmental work, as well as the estimated $3.1 million costs of removing underground former freeway piers and $5.2 million for moving a sewer line, according to the Abele administration.

    The costs of that sewer line change and freeway pier removals are to be shared by the Bucks, the county, the state, the city and the Milwaukee Metropolitan Sewerage District, according to a city comptroller’s report.

    That’s right, outstate folks – you’re paying for this too.

    On the other hand, if Lasry and Edens hadn’t conned everybody, instead of a Bucks training facility and some mostly-empty apartments, offices and shops, in 10 years, it would still be a vacant lot.

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