The City of Oshkosh is threatening to terminate its development agreement with the bankrupt owners of the Menominee Nation Arena.
The city is filing a notice of default with the federal court because Fox Valley Pro Basketball owes nearly $350,000 in back property taxes, along with $41,000 for city services.
The move would mean the city wouldn’t have to make its TIF payments to Fox Valley, and that’s what the owners are basing their entire reorganization plan on.
They now have 90 days to pay, or the development agreement will be called off.
