Originally Posted by
Goose85
Problem with the TIF district is the arena is going to be tax exempt. No property tax coming to Milwaukee from the new arena.
The only way to ensure that a new TIF would have enough property tax revenue to pay for this would be from the other development around the arena.
If there is no new development for 5 or even 10 years, then there are no new property taxes to pay for the borrowed money. What happens then?
Additionally, there would be no TIF available to help to spur development in the area. Could be risky for Milwaukee, if the city is on the hook and there is not $500 mil of additional property tax eligible development around the new facility.