City Committee Approves Financing Agreement for Summerfest South End Project (Renderings)
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Earlier this week the Zoning, Neighborhoods & Development Committee recommended the approval of a Redevelopment Authority of the City of Milwaukee financing agreement with Milwaukee World Festival, Inc. Specifically, the agreement authorizes the selling of up to $25 million in RACM revenue bonds to fund a loan that will be used to support Milwaukee World Festival, Inc.’s South End Capital Improvements Project on 22-acres at Henry Maier Festival Park.
The first phase of this project includes the redesign of a significant portion grounds around the South Gate. The most visible change will be the relocation of the South Gate and Box Office to a site west of the Hoan Bridge. The first phase will also include the development of a new stage, food and beverage buildings, restrooms, and viewing decks. Another significant change will be the redevelopment of the Briggs & Stratton Big Backyard Area, updating it from its mid-1980s design, and opening the area up to the lakefront. This $17 million first phase of this project will be completed in time for the 2011 Summerfest season.