Stadium Land Deal a Foul Ball

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A few well-to-do businessmen in Rock County have a plan to build a stadium, dig a gravel pit, swap some land, start a charity and move the fairgrounds, all in one fell swoop. How this all came about from a seemingly well intentioned plan to just build a new stadium is anybodies guess. But when motivation is high and interest is created, opportunities can be found, deals often happen. The private parties involved are said to offer a $7 million dollar gift to the county as a carrot to strike the deal. However, details of the plan are sketchy and the parties have placed a time limit on the county to speed up the process.

But the details of the plan are really unnecessary when you begin to dissect the basic premise of the offer. The initial offer was reported in the Janesville Gazette as the machination of several wealthy individuals whose primary goal is to build a new stadium, but somehow evolved into what really appears as a plot to exchange real estate. The land deal is backed by Jim Fitzgerald, one of several wealthy local businessmen who have voiced their desire to build a new stadium for the Beloit Snappers.

JG excerpt:
Fitzgerald – former owner of the Milwaukee Bucks and Golden State Warriors – said he does not stand to profit from getting the Snappers a new stadium. He became friends with Snappers management officials recently, he said. “Ijust met these fellas, and they were frustrated,” he said. “I have one objective, and that’s to get that stadium built in that location.”

I kinda believe Jim Fitzgerald, but other members of his party might not feel the same way. As reported in the Gazette on Oct. 13th was the following:

JG excerpt:
Mulder would pay the county $7 million. Even if the stadium-fairgrounds complex or mine plans fall through, the county would accept the $7 million as further cash for the land trade.

In other words, no matter what happens to the stadium-fairgrounds and mining operation, the private parties involved here still want the land deal. They still want to unload those three parcels onto the county and wash their hands clean of them. Who could blame them when you consider that two of the three parcels are adjacent to I –39/90 and also have a railroad running between them. Good land no doubt, but they will also face some rigid local opposition for land use and the mining operation opens a can of worms. The interstate and railroad can pose some limitations for residential use.

However the location at Highways 51 and 14 is in a “sweet spot” when you consider it’s far enough removed from I –39/90, but still has excellent accessibility to the interstate from Highway 14. Yet the property is ideal for local traffic as well and close to new developments in Janesville and retail shopping. The potential here in the future for development is extremely high, it’s anticipated returns on investment are astronomical, this property is AAA+. In comparison, the three separate parcels offered to the county are a mixed bag of burdens with less overall potential.

That the “generous” private parties involved are willing to give a total of $8.3 million plus 335 acres of land for 420 acres of land with all the smoke and mirrors should raise some alarms. Fitzgerald is smart enough to know when he’s being played and should stick to his primary goal to build a stadium without involving opportunists who appear to have different primary objectives. My concern is for the county and as a resident I suggest we let this unsolicited land deal expire.