GREEN BAY, WI (WTAQ-WLUK) – City officials voted Tuesday to approve financial support for the Green Bay Public Market, in hopes the project will be complete in time for the 2025 NFL Draft.
Construction has started at the Public Market, located at 211 N. Broadway, with a target to open in the spring, before the Draft comes to Titletown. The market is expected to feature at least 20 vendors and promises year-round access to fresh produce and goods.
Earlier this year, backers said they had raised more than 60% of the $12.5 million needed for the Public Market, with about $6.5 million coming from private support. Efforts continue, however, to close the remaining gap. That’s why On Broadway, Inc. turned to the city for assistance.
On Tuesday, the Green Bay Redevelopment Authority unanimously agreed to create a tax incremental district to help fund the project. In such districts, the funds generated by increased property values within it help pay for the improvements.
Of the $4.27 million total from the city of Green Bay, $2 million would be in the form of pay-as-you-go TIF dollars, meaning they will only be received after taxes are paid. Another $1 million would come as a loan from the state trust fund that is paid back from future donor pledges the project secures.
The request now heads to the Green Bay City Council for a vote later this month.
Garritt Bader, a board member of On Broadway, Inc., said it’s “a possibility” the project may not open in time for the NFL Draft, if this money isn’t granted.
“Of course we don’t want to face that, because we absolutely want that open in April, but any delay on being able to close our capital stack delays construction,” Bader said.
If you drive by right now, you’ll see it’s all gutted out. We’ve torn it apart. Now, when the capital stack closes, our contractor can come in and do the formal work of building out — new utilities, new electrical, new mechanical and then all the pretty stuff that shows up.
Bader said On Broadway, Inc. will work to raise the remaining money through grassroots fundraising strategies.
“We’ll continue our work with community members and with other foundations, and individuals that have indicated interest, and keep making our case for why this is important for the community to get done,” Bader said.
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