The construction of the Titletown District in Green Bay, Wis., began earlier this month after the Green Bay Packers bought their final plot of land from the Wisconsin Department of Transportation (DOT) on March 10. The DOT appraised the land west of Lambeau Field at $5.2 million, but sold it to the Packers at the organization’s own appraised price of $1.5 million.
Both sides were asked to explain why more than $3.5 million was knocked off the price tag.
“We were able to get $1.5 million, which goes back into the transportation fund, which can be used for other highway projects,” Wisconsin Department of Transportation representative Will Dorsey told WBAY-TV in Green Bay. “It was of no value to us for highway purposes. It wasn’t on the tax rolls generating any kind of tax income. We got good value for this property on behalf of the state of Wisconsin.”
The DOT says its appraisal of $5 million was based on the price of the square footage of other properties the Packers had purchased nearby (hotels, restaurants and stores), but that those properties had commercial value, while the DOT land was essentially a “ditch,” Packers spokesperson Aaron Popkey said.
“There are a lot of factors that go into the appraisal that we used at $1.5 million,” Popkey said. “We really looked in terms of the value. The people at the state had a different appraisal, but I think later they realized, too, the great value of how it plugs into the overall piece.”