The main lender for the construction of the Menominee Nation Arena in Oshkosh is foreclosing on the owner, but a city official believes the arena is still a very viable facility.
Bayland Buildings says Fox Valley Basketball and developer Greg Pierce aren’t making payments on a $13 million loan.
Oshkosh City Manager Mark Rohloff says the main tenant, the Wisconsin Herd, is very committed to the city and very successful. He says it’s just a matter of arena management getting the rest of their issues worked out. He believes a lot of it has to do with the financing of the arena.
The city agreed to use TIF money to help with the project, but Rohloff says the city hasn’t made any payments. And he says they won’t make any during the foreclosure proceedings.
