(Image provided by the City of Oshkosh)
The City of Oshkosh will hold onto the tax incremental financing payment due to the Menominee Nation Arena. A filing from the city in federal bankruptcy court claims Fox Valley Pro Basketball is “eyeing TIF money to execute a hail mary to attempt to avoid liquidation.” The first TIF payment due to the arena ownership group is to be paid out on November first. Further complicating matters, Bayland Buildings–which is suing Fox Valley Pro Basketball for non-payment of a 13-million dollar construction loan–is arguing that it is the rightful recipient of the payment, as it–in effect–owns the arena. The city adds in its filing that it would consider releasing the money to Fox Valley Pro Basketball if it comes current on utilities and other bills owed to the city.
