Wisconsin Assembly to Vote on $500 Million Bucks Arena Deal

Legislators Believe Funding will Pass

The Wisconsin state Assembly is scheduled to vote on approving a $500 million financing plan for a new Milwaukee Bucks arena.

If approved Tuesday without any changes, the plan would then go to Gov. Scott Walker for his signature.

The Senate passed it on a bipartisan 21-10 vote on July 15.

Walker, a presidential candidate, has been supportive of public financing to keep the Bucks in Milwaukee.

Under the proposal, half of the $500 million cost would initially be paid by state and local taxpayers.

That cost would increase to $400 million over 20 years when interest is added.

The other $250 million would come from current and former Bucks owners.

The deal also includes a $2 ticket surcharge on events at the current Bradley Center.

Categories: Business-imported, Community-imported, Life-imported, Money-imported, News-imported, Politics-imported