The city of Milwaukee is set to sell a vacant lot in the cities downtown section to the Milwaukee Bucks for $1 according to the AP. The land would obviously be used for the Bucks proposed new $500 million dollar arena.
“The sale will transform a vacant space into a development that will create thousands of jobs and generate millions in revenue,” County Executive Chris Abele said in a statement Wednesday.
The land was appraised at $8.8 million, but Abele says that doesn’t include demolition and infrastructure work.
The announcement comes as city leaders are deciding whether or not to approve the final piece of a $500 million funding plan that would include tax payer money.
$1 dollar for a whole chunk of land that’s worth millions? I need to move to Milwaukee if they’re giving out deals like that. $2.75 for one subway ride, plus an extra dollar for a metro card, later New York.
