Rendering of the proposed Green Bay Public Market (Image courtesy On Broadway)
GREEN BAY, WI (WTAQ-WLUK) – The Green Bay Public Market is asking the city’s Redevelopment Authority to allow the project completion date to be moved from December 2025 to December 2027, but the project is not asking for additional city funds.
The market, 211 N. Broadway, was first announced in January, 2022, but has been beset with a variety of delays and funding woes. Plans call to transform the 45,000-square-foot Old Fort Square building on Broadway into a tourist destination, providing locally-sourced goods from at least 20 vendors.
In December, the market announced it had reached 87% of its $8.5 million fundraising goal.
According to the agenda released Friday for Tuesday’s RDA meeting, the market is asking for the completion extension.
“The Development Agreement approved in September 2024 was executed. However, the project has not proceeded as originally planned. The Developer has experienced increased construction costs, resulting in delays to the agreed-upon project timeline. The Developer has worked with City staff to establish a revised project schedule and is requesting an amendment to the Development Agreement to modify key dates accordingly. Specifically, the Developer is requesting that the project completion date be extended from December 2025 to December 2027. The proposed amendment would also require the submission of updated construction documents, a revised development budget, and proof of equity and financing no later than May 1, 2026. The proposed amendment does not include any changes to the City’s approved financial participation in the project,” the memo from city staff states.
The proposal does not change the city’s contribution. That is this: “Under the approved Development Agreement, the City committed to providing a $1,000,000 State Trust Fund Loan and a PAYGO reimbursement equal to 95 percent of available TID increment, not to exceed a total tax incentive cap of $2,080,360,” the memo states.
The RDA meets at 1:30 p.m. Tuesday in room 604 of City Hall, 100 N. Jefferson Street.
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