Can this balloon stay aloft?

By RESLER

Friday, May 30, 2003

An intriguing trial balloon to relocate the Potawatomi Bingo Casino downtown has attracted some influential political supporters, including Mayor John Norquist. He's the one, you may recall, who fought long and hard and in vain to prevent the casino from expanding three years ago at its present location in the Menomonee Valley.

But even Norquist's support, along with that of County Executive Scott Walker and Common Council President Marvin Pratt, may not be enough to overcome some high hurdles. We do think, however, that if the casino were relocated downtown, the area being mentioned -- near the old Pabst brewery -- would be ideal. Developers have announced plans for a $300 million complex that would include movie theaters, a House of Blues restaurant and nightclub and similar attractions. A casino -- a people magnet if ever there was one -- would be a nifty fit.

But just because it makes sense doesn't mean it will happen. For starters, the Potawatomi aren't the ones floating this balloon. The timing, from their perspective, couldn't be worse. They sank $120 million into the casino expansion, and they are planning to expand again to take advantage of a new agreement with the state allowing them to add new games, including craps and roulette. Architects have been hired, and the tribe hopes to break ground in the fall.

Unfortunately, the downtown site would need to be declared federal surplus land. Even under the best of circumstances, that difficult process could take 18 months. What does the tribe do in the meantime? The expansion is expected to bring in about $125 million in additional revenue annually. Every day the tribe delays the lucrative expansion means more dollar bills flying out the window.

If the tribe sells its building, odds are that it wouldn't get enough from a potential buyer to recoup its investment. Complicating matters, a tribal spokesman said the Potawatomi would be reluctant even to explore relocation until a lawsuit challenging the legality of its new gambling agreement with the state is resolved.

City officials say the impetus for the move is coming from a group interested in attracting more light industry back into the valley. The group, according to one city official, believes the casino is artificially driving up real estate values. But considering the size of the valley and the number of vacant parcels down there, that argument doesn't compute.

At one time, city officials talked about the valley's potential for mixed-use recreation, anchored on one end by the casino and on the other by Miller Park. Now, according to a spokesman for the Department of City Development, the goal for the valley is light manufacturing.

Nothing wrong with that, of course; the valley is in the heart of the city. The more good-paying jobs the city can lure there, the better.

But this turn of events makes us wonder if anyone around here really has a master plan for this obviously valuable real estate. If not, somebody should get busy.

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