(Image provided by the city of Oshkosh)
Oshkosh’s city manager says the development agreement for the Menominee Nation Arena includes safeguards for taxpayers when there are lawsuits.
Bayland Buildings is suing the arena owners, Fox Valley Basketball, for not making payments on a $13 million construction loan.
City Manager Mark Rohloff says the city hasn’t paid any TIF incentives to the owners yet. He says they met the first requirement to pay the taxes, but haven’t paid other things.
Rohloff says that’s why the city set up what’s called a “pay as you go TIF” instead of giving the developers money up front. The city was expected to make the first payment in November.
