After years of Scott Walker appointing unqualified cronies to positions in economic development, which led annually to major deficits in the budget, two county supervisors are now proposing a common sense idea to help get the county moving forward again.
From a joint press release from Supervisors Eyon Biddle and Theo Lipscomb:
Milwaukee County Supervisors Eyon Biddle, Sr., and Theodore Lipscomb, Sr. are introducing a resolution to create an Economic Development Fund in Milwaukee County, funded through the sale of County-owned real estate.
According to the resolution, 25% of the net revenue generated from land sales would be deposited into the Economic Development Fund, to be used for a number of initiatives, including:
• Minority Business Working Capital
• Small & Minority Business Revolving Loan Fund/Contract Financing
• Housing Development
• Neighborhood Business Development
• Environmental Mitigation/Brownfields
• Park East Redevelopment Compact“We must do more to grow local businesses and nurture entrepreneurship in Milwaukee County,” Supervisor Lipscomb said. “This fund is an important new tool to help businesses grow and add local jobs.”
“I ran for the County Board on a platform of economic development and job creation. While there is no magic bullet to cure all problems, this can be a significant first step in bringing economic equality, jobs, and opportunities to the people of the 10th District, and for disadvantaged groups throughout the County,” Supervisor Biddle added.
“This is important to the County Board and the County Executive, so I look forward to the passage of this legislation.”
The proposal also calls for $292,902 in unused minority business loan program funds be transferred into the newly-created Economic Development Fund. The resolution will likely be considered during the County Board’s October committee cycle.
This makes a lot of sense and should be passed by the Board and the County Executive without delay. We need to get the healing process started to recover from the years of neglect during the Walker years.
Oh My goodness I gotta disagree with you here. I would really prefer to see the County keep all of their land holdings. The Hospital residents/tenants of the county grounds pay a lot of money to the county for that location. Think of the Restaurant at O’Donnell Park. That’s great real estate and they pay the county rent to be there. Bartolotta Restaurant at Lake Park should be paying top dollar for renting the space at the Lake Park Pavilion. Selling land is the same as selling a potential revenue stream. Are you sounding like Scott Walker? Selling a public resource that belongs to the people for private gain. You talk about privatizing your profits and socializing your losses (this is a reverse version of that(kinda)).
My blood pressure rose when I thought that the County Board might raze the O’Donnell Park Parking lot and then sell the land to a developer. Holy Smoke That would be worth a campaign contribution or two, in the short term. There would be a big check coming to the county treasury but that is all fleeting compared to the continuing, consistent, payment of rent to the county Treasury. Lease or rent the land as a revenue stream. Scott Walker wanted to sell every tract of land so it went from public to private hands. The privatizing of Milwaukee County was the Scott Walker Drum Beat. I am surprised that he sold as much as he did and right under residents noses. One Of Gwen Moore’s “Three P’s” is. No public money for private projects (endeavors, business, etc etc.) Amen Gwen.
Sincerely
Dave From Milwaukee
Hi Dave!
Generally, I agree with you on the need to save County assets as much as possible. The thought of selling off O’Donnell Park was and is a really bad idea. That said, the County is only getting a dollar a year from Children’s Hospital and from Froedtert. The county is not going to kick these two fine hospitals out and even if someone was that crazy enough to try, there is nothing that could be done with that land that wouldn’t cost a fortune. We could easily sell those at fair market value and be much better off for it.