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With Budget in Hole, Walker Still Wants to Give $220 Million to Milwaukee Bucks PDF Print E-mail
News - Articles for State & Local
Written by GBP Staff   
Wednesday, 01 April 2015 11:03

milwaukee_bucksGREEN BAY - With the people of Wisconsin in major protest mode over drastic budget cuts proposed to public education and healthcare services, Governor Scott Walker still found time Monday to renew his plan to use $220 million in bonds as part of the state's commitment toward a new Milwaukee area arena.

The new area would house the Milwaukee Bucks basketball team. Walker made his comments Monday at a Sojourner Family Peace Center event held at the Gehl Club in Miller Park.

Walker suggested using bonds as part of the state's money toward a new arena in January. Asked by reporters if his plan was dead, the governor said it was still an option. He added that he did not think the arena project was in trouble.

The Milwaukee Journal-Sentinel reported Tuesday that Walker hopes stakeholders who are trying to get a new downtown Milwaukee arena built may be able to find a another financing option. Asked if he had moved on from his plan, Walker said the goal was to find a plan that "everyone can sign off on. If we can get agreement, we'll be announcing it in the next week or so."

Last week, the Legislative Fiscal Bureau reported that the debt repayment of Walker's January bonding proposal ultimately could be costly to state taxpayers, as much as $488 million under one scenario.

The state bonds would be used in conjunction with $150 million the Bucks' owners have committed, as well as $100 million from former Sen. Herb Kohl. Kohl sold the team last year for $550 million. In addition, there is an expectation that the City of Milwaukee and Milwaukee County will be asked to contribute.

Just this week, the Brown County Board voted to end a local .5% sales tax that had been used for 15 years here to help finance improvements for the Green Bay Packer's Lambeau field.

 
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