sidewalk

This rendering is the development that was proposed in 1982.  The “Point” was a hotel, recreation and conference complex to be constructed on “unimproved” lakefront property in Lakeside Park. 

The “Point” was to consist of a totally self contained hotel/recreation facility to include 250 guest rooms, a theater dining room, indoor swimming pool, indoor tennis courts, a fitness center, saunas, restaurants, lounges and service marina.   It connected to a conference center that would host meetings, conventions and business/trade shows.  

When it comes right down to it, the City Council is gambling with our money and our public assets. They are betting that a large restaurant- placed on the most desirable piece of public real estate in the county- will generate enough dollars to pay for future improvements at the city’s parks. 

 While it may, indeed, succeed, there is a larger chance that it will not. Sixty percent of restaurants don’t make it past their first year and 80 percent go out of business within five years. Even if it does succeed, the return on investment is questionable.  

City taxpayers are on the hook for $5.2 million of this project. At this point, it is unknown how much of that will be directly related to the restaurant, but we do know it is a substantial amount, as we are responsible for all infrastructure.  

So, just for argument’s sake, let’s say we have to invest $2 million in infrastructure. Let’s also say the building generates $100,000 per year in revenue from leasing to a private operator.  We will only receive that revenue if the restaurant is successful. That is the gamble… and a not-so-profitable one even with success.  If we have $2 million in taxpayer funds, that means we could just invest $100,000 in our park every year for 20 years without having to put up a building and gamble on a business being successful.   

If the restaurant does not make it- and over time it is proven either the rent is too high, parking inadequate, patrons too seasonal, etc, there will be less or no leasing revenue collected. After 7 years, the building itself may become the responsibility of the taxpayers. That means maintenance, utilities, general upkeep and finding and maintaining a tenant is in the taxpayers’ hands.  

On the surface, this seems like a great deal.  We get a big, fancy building for “free.”  We get revenue from a leasing restaurateur. In reality, we are simply betting the place will be a wild success- even when the industry odds of restaurant success are only 1 in 5.  If it fails, we get no lease revenue. 

We do not wish any business venture to fail. Speculative businesses are great for investors and venture capitalists. It is a form of gambling. City Council members are neither investors nor venture capitalists- and should not be investing taxpayers money in a risky start-up.  

What can you do? Ask city council to stop gambling with your money. Also, do your research and vote on April 6. Current council members on the ballot do not deserve re-election. 

Last summer, the City of Fond du Lac opened up a comment section on the Lakeside Park Masterplan webpage.  John Papenheim donated and put up signs in Lakeside Pake that showed the pictures of the proposed development that were in the Alternative Master Plan.   These signs directed people to the web page to leave comments.  321 people left comments with 298 of them doing so in the months of July and August 2020.  The site is still open.  You can click HERE to go and comment.  

To date, there has been no public discussion of these comments.  We downloaded them and compiled the answers.  82% of the people oppose going forward with the plan.  Especially unpopular is building a restaurant on the shoreline.  

We have put the citizen comments into a spreadsheet on our google drive.  You can click HERE and go read the comments.  It is clear from the comments, citizens do not favor going forward with development on the peninsula.  The current location  for the restaurant is still on the peninsula.   It is time for a referendum to show the people the plans and let the people decide.