Milwaukee Bucks officials say they are beating most of their goals for hiring residents and small businesses for the construction of the Fiserv Forum and related projects, according to a second-quarter report.
Deer District LLC, the firm developing the new Milwaukee Bucks arena and a related parking garage and public plaza, is obliged by a development agreement with the city of Milwaukee to meet a series of goals calling on it to hire Milwaukee residents and companies owned by women, minorities and veterans.
In its latest report, the developer says it is exceeding each of its hiring goals. According to its agreement with the city, the team must ensure at least 40 percent of the work hours on the project go to city residents and that at least 25 percent of the project’s construction contracts and 18 percent of its professional-service contracts go to minority-, women- and veteran-owned companies, also known as SBE firms.
Construction inclusion: Bucks officials say they have hired SBE companies for 36.1 percent of the contracts let on the arena, exceeding their goal. By the end of the second quarter, those contracts accounted for 36.9 percent of all payments made to contractors, or about $85.5 million of the $231.6 million that was then spent on the Fiserv Forum itself, the public plaza and the 5th Street parking garage.
Professional-service contractors: Bucks officials say SBE professional-service contractors got 21.1 percent of the contracts let on the three projects in the second quarter, and 19.5 percent of the payments made, receiving about $25.3 million. Even so, the payments made to SBE professional-service contractors for the Fiserv Forum itself fell below the Bucks’ goal. Those companies were supposed to benefit from 18 percent of the spending. They instead got 17.4 percent.
Resident preference program: Bucks officials say they are exceeding their goals for hiring city residents. For the three projects accounted for in the second-quarter report, local residents worked 42.1 percent of the 1.7 million hours worked.Follow @natebeck9