The builder of the Oshkosh Arena filed a notice of foreclosure on the building.
Bayland Buildings filed the foreclosure of mortgage notice in Winnebago County Court June 4 against Fox Valley Pro Basketball, its president Greg Pierce, and Two Willows LLC, which previously provided capital to Fox Valley Pro Basketball in exchange for its future tax incremental financing payments from the city.
According to the filing, Fox Valley Pro Basketball has not made a mortgage payment in several months, and still owes Bayland $12 million. The estimated cost to build the arena was $13 million.
Yesterday, WHBY News reported that Fox Valley Pro Basketball had not paid any of its property tax payments to the city this year, and owes more than $477,000. Bayland has filed a motion to place the arena into receivership. No court dates have been set.
To read a copy of the notice and listen to a response from Oshkosh City Manager Mark Rohloff visit our media partner WHBY News here:Â https://www.whby.com/2024/06/05/builder-claims-oshkosh-arena-owners-are-insolvent/
