Wisconsin Senate Approves $250M Funding Plan for Bucks Arena
Rendering of proposed Milwaukee bucks arena from Populous, HNTB and Eppstein UHEN Architects
The Wisconsin State Senate approved a $250M public-funding plan for a downtown arena for the NBA’s Milwaukee Bucks. The measure was approved in a 21-10 vote and brings to an end a months-long debate on whether the project deserved taxpayer support. Bucks ownership has pledged $250M to the project and said they needed the matching funds to complete an NBA-mandated improved home arena by the fall of 2017. The amended bill has been subject to last-minute negotiations that included the establishment of a $2 per ticket surcharge to pay down construction debt. The Bucks had been opposed to the surcharge but acknowledged the necessity of it in a statement released by the team. “It is not something we would have encouraged or like, but we’re very happy with where we are,” said team president Peter Feigin. The bill will now head to the state assembly and the desk of Wisconsin Gov. Scott Walker. The Milwaukee Bucks downtown arena project is the latest of several proposed or developed sporting arenas across the US. [BIZ]
