Bucks to unveil $500 million stadium plan just north of BC

[martyconlonontherun]

No, you don't know sh1t about finance. And who cares who you ignore.

So you think the state can take 80 million in debt service and apply it to the UW school system if the Bucks leave? I'm a little confused what was so wrong with his statement.

[ChicosBailBonds]

Just going to leave this here...

Absolutely correct....it's the same spiel each and every week.  It's formulaic.

I think he's wrong on some stuff and right on others.  I've been consistent on public financing of stadiums forever on this board.  Nothing has changed.   The money is there where the taxpayer shouldn't have to pay for it.  I don't need John Oliver to say it, I've provided multiple other opinions that support my position.   I happily provided Oliver because he seems to have so much street cred with folks here....more so than some boring guy just running the numbers.

The economic benefits are crap, and overstated.  There is plenty of money to get this done without taxpayer money if they push hard enough.  If not, and they leave...they leave.  I'm sure it will get done somehow, but using public money for this stuff is not ideal.  That has been my tune for as long as I can remember.

[ChicosBailBonds]

Well, if we can't rely on comedians for our advice who can we count on? I hear George Carlin, greatest comedian of our time, believed there was no God. Good to know for sure.

Plenty of experts in the field have weighed in, but in today's day and age where people get their news from Jon Stewart, etc.....

[jsglow]

Absolutely correct....it's the same spiel each and every week.  It's formulaic.

I think he's wrong on some stuff and right on others.  I've been consistent on public financing of stadiums forever on this board.  Nothing has changed.   The money is there where the taxpayer shouldn't have to pay for it.  I don't need John Oliver to say it, I've provided multiple other opinions that support my position.   I happily provided Oliver because he seems to have so much street cred with folks here....more so than some boring guy just running the numbers.

The economic benefits are crap, and overstated.  There is plenty of money to get this done without taxpayer money if they push hard enough.  If not, and they leave...they leave.  I'm sure it will get done somehow, but using public money for this stuff is not ideal.  That has been my tune for as long as I can remember.

It's perfectly fine to oppose all public financing for pro sports arena projects but it is the reality in the vast majority of arena projects.  It's been demonstrated previously that the proposed MKE deal is actually more taxpayer friendly than most over the past 25 years.  It's also absolutely true that in the absence of a new arena that the Bucks will be gone.  So those are one's choices.  I, for one, hope there's sufficient momentum to get the project done.

[martyconlonontherun]

Absolutely correct....it's the same spiel each and every week.  It's formulaic.

I think he's wrong on some stuff and right on others.  I've been consistent on public financing of stadiums forever on this board.  Nothing has changed.   The money is there where the taxpayer shouldn't have to pay for it.  I don't need John Oliver to say it, I've provided multiple other opinions that support my position.   I happily provided Oliver because he seems to have so much street cred with folks here....more so than some boring guy just running the numbers.

The economic benefits are crap, and overstated.  There is plenty of money to get this done without taxpayer money if they push hard enough.  If not, and they leave...they leave.  I'm sure it will get done somehow, but using public money for this stuff is not ideal.  That has been my tune for as long as I can remember.

Are you against it based on principle or for economic reasons? I understand the principle but even if you don't believe in the marketing of a city and quality of life aspect (which I think is overstated), I think the reality of the situation is the team would be more valuable if moved to another city in a better market that is willing to put up the capital.
 

[TAMU, Knower of Ball]

Growing up, I would visit family in the Grand Rapids, MI area. I remember downtown being a wasteland. Nothing to do, no one around, those who were around felt like they were walking through a dangerous part of town. I moved to Grand Rapids when I started going to grad school at Grand Valley State just down the road. It was nothing like I remembered. There were upscale restaurants, well groomed parks, new bars and clubs (surprisingly good night life in Grand Rapids), and a beautiful river walk along the Grand river. When I asked locals what had happened, they said it all started happening when the Van Andel Arena (home of the Grand Rapids Griffins) was built. It attracted people and business and had done wonders for downtown.

I know its not this simple, but if a downtown arena for a freaking minor league hockey team could do that much for Grand Rapids, I think it is fair to assume that a new downtown arena for a professional basketball team could do wonders for Milwaukee.

[bilsu]

I graduated from MUHS in 1971. In those days nobody would go to downtown Milwaukee at night. So Milwaukee has been revitalized. I am not sure how much the Bucks had to do with that.

[MUsoxfan]

Growing up, I would visit family in the Grand Rapids, MI area. I remember downtown being a wasteland. Nothing to do, no one around, those who were around felt like they were walking through a dangerous part of town. I moved to Grand Rapids when I started going to grad school at Grand Valley State just down the road. It was nothing like I remembered. There were upscale restaurants, well groomed parks, new bars and clubs (surprisingly good night life in Grand Rapids), and a beautiful river walk along the Grand river. When I asked locals what had happened, they said it all started happening when the Van Andel Arena (home of the Grand Rapids Griffins) was built. It attracted people and business and had done wonders for downtown.

I know its not this simple, but if a downtown arena for a freaking minor league hockey team could do that much for Grand Rapids, I think it is fair to assume that a new downtown arena for a professional basketball team could do wonders for Milwaukee.

Yeah, but Milwaukee already has arenas. You're just taking all the same people that would be downtown anyway and moving them a block north

The east side is much better than it was a dozen years ago when I was in school. I wouldn't have ever thought to go to the 3rd Ward, Walkers Point or Bayview and now all those areas have had wonderful things injected into them.

The downtown areas of most cities are dormant on nights and weekends. The revitalization of Milwaukee is happening before our eyes and it's happening away from downtown

[brewcity77]

Yeah, but Milwaukee already has arenas. You're just taking all the same people that would be downtown anyway and moving them a block north

The east side is much better than it was a dozen years ago when I was in school. I wouldn't have ever thought to go to the 3rd Ward, Walkers Point or Bayview and now all those areas have had wonderful things injected into them.

The downtown areas of most cities are dormant on nights and weekends. The revitalization of Milwaukee is happening before our eyes and it's happening away from downtown

There's a lot of truth to this, but it's in these specific neighborhoods. In other parts of the city it's not nearly as bright and sunshiny. The far northwest side has been going downhill for 20+ years now with no signs of revitalization. Riverwest and the area just west of that are worse off than they were, and that spreads south to the edge of downtown. The South Side, specifically east of roughly 6th from the Third Ward to the Airport, has really blossomed, that is hardly indicative of the city as a whole.

[MuMark]

@DavidAdeCBS58: Hearing from reliable source; WI Senate will meet tomorrow, ticket surcharge will be part of plan, and there are "at least 17 votes" for it.

[MuMark]

Senator Lena Taylor said Tuesday that an agreement has been reached and that the plan for a new arena in downtown Milwaukee will pass senate on Wednesday, according to a report from WITI Fox6 Milwaukee.

The Bucks are asking for $250 million in state funding toward a new, $500-million downtown arena facility, and they've been trying to sell the state on the social and economic benefits of a new arena. Gov. Scott Walker brought an official proposal forward in early June, but optimism dissipated quickly as implicit costs were examined and the proposal seemed to get lost in the larger state budget being ironed out.

The proposal was pulled from the state budget as a result, leaving the proposal to try to pass as a separate bill. Senate Majority Leader Scott Fitzgerald said Tuesday that he wouldn't bring the proposal to a vote until he had the support, and it appears he's rounded up the requisite votes.

Between the new owners, outgoing owner Herb Kohl, and private financing initiatives, the Bucks are ready to contribute $250 million of their own, but some estimates suggest the real cost to the public after interest could reach $377 million.

Construction on a new facility would conceivably need to begin this year for an arena to open for the 2017-18 season, but it's possible approval from the senate and assembly would be enough to quiet talks of moving the team. Otherwise, the team could move to Las Vegas or Seattle, something Bucks president Peter Feigin recently admitted but NBA commissioner Adam Silver downplayed in favor of optimism.

[4everwarriors]

#donedeal, ai na?

[Ardmore Mug]

 I had said a couple of days ago, From my friend who is IN the negotiating for the Arena as he was for Miller Park...: They have the votes.. It will be voted on Wed and it passes... Its a    DONE DEAL ! ! !   

[ChicosBailBonds]

It's perfectly fine to oppose all public financing for pro sports arena projects but it is the reality in the vast majority of arena projects.  It's been demonstrated previously that the proposed MKE deal is actually more taxpayer friendly than most over the past 25 years.  It's also absolutely true that in the absence of a new arena that the Bucks will be gone.  So those are one's choices.  I, for one, hope there's sufficient momentum to get the project done.

Totally get it.  I just wish the puffery claims of the wonderment that will come from tax payer supported stadiums and arenas would stop. 

Trade offs with everything.  I hope those that want the project get the project pushed through.  Whether the money is well spent or could be spent better elsewhere, well that debate will linger.

[ChicosBailBonds]

Growing up, I would visit family in the Grand Rapids, MI area. I remember downtown being a wasteland. Nothing to do, no one around, those who were around felt like they were walking through a dangerous part of town. I moved to Grand Rapids when I started going to grad school at Grand Valley State just down the road. It was nothing like I remembered. There were upscale restaurants, well groomed parks, new bars and clubs (surprisingly good night life in Grand Rapids), and a beautiful river walk along the Grand river. When I asked locals what had happened, they said it all started happening when the Van Andel Arena (home of the Grand Rapids Griffins) was built. It attracted people and business and had done wonders for downtown.

I know its not this simple, but if a downtown arena for a freaking minor league hockey team could do that much for Grand Rapids, I think it is fair to assume that a new downtown arena for a professional basketball team could do wonders for Milwaukee.

I feel you are way oversimplifying this.  After graduating MU, I spent the first two years in the automotive engine oil testing industry and spent a ton of time in Grand Rapids, Grand Haven, Muskegon, Southfield, Battle Creek, Traverse City, etc.  I must have spent 2 weeks of every month doing the circuit with GM, Ford, Delphi, every parts manufacturer you can imagine.  Grand Rapids like so many other cities were so linked to the automotive industry that they were buried when Detroit got buried.  Watch what is about to happen in Finland to two cities with Nokia's demise from Microsoft.  Tough to get out of the way of those things.

The urban renewal of Grand Rapids and some other cities is attributed to many things, but is it the chicken or the egg?  I find Pittsburgh and Cleveland to be in much better shape now then they were 20 years ago, they have fancy stadiums downtown and they are easy to point to as reasons for growth because people come down to attend games.  It becomes a magnet.  Now, the question I have is with a new arena in Milwaukee, will that many MORE people come down than do now?  Say that happens for the first 2 years to check out the new digs, what about years 3 through 20 when you're still paying the place off in spades?

[Warrior]

This is a great day for Milwaukee and Wisconsin. The Arena deal will get done!

[jsglow]

Totally get it.  I just wish the puffery claims of the wonderment that will come from tax payer supported stadiums and arenas would stop. 

Trade offs with everything.  I hope those that want the project get the project pushed through.  Whether the money is well spent or could be spent better elsewhere, well that debate will linger.

Just like I wish that those who oppose any public funding would stop lecturing folks about 'billion dollar owners' or the assertion that a pro sports team is no more of an important city asset than a new bridge or refuse collection center would be.

[ChicosBailBonds]

Just like I wish that those who oppose any public funding would stop lecturing folks about 'billion dollar owners' or the assertion that a pro sports team is no more of an important city asset than a new bridge or refuse collection center would be.

In my opinion, the value of a sports team to a city is just that, an opinion.  The implied economic benefits should be something that can at least be somewhat supported by data, even if the meerits of the data can be questioned.

Looks like the arena is happening.  Billionaires and millionaires win again....let's hope the people of Wisconsin do as well from their investment.

[Herman Cain]

Growing up, I would visit family in the Grand Rapids, MI area. I remember downtown being a wasteland. Nothing to do, no one around, those who were around felt like they were walking through a dangerous part of town. I moved to Grand Rapids when I started going to grad school at Grand Valley State just down the road. It was nothing like I remembered. There were upscale restaurants, well groomed parks, new bars and clubs (surprisingly good night life in Grand Rapids), and a beautiful river walk along the Grand river. When I asked locals what had happened, they said it all started happening when the Van Andel Arena (home of the Grand Rapids Griffins) was built. It attracted people and business and had done wonders for downtown.

I know its not this simple, but if a downtown arena for a freaking minor league hockey team could do that much for Grand Rapids, I think it is fair to assume that a new downtown arena for a professional basketball team could do wonders for Milwaukee.

Grand Rapids had the benefit of 3 major corporations in the area who were civic minded.The arena was one piece of a very well thought out plan. Having Fifth Third Ball Park and the general emergence of Grand Valley State  as institution helped propel things.

I think a new arena combined with other development would be a success.

All that said I believe the new arena could be privately funded very easily . Politicians should just say no.  The owners are in too deep at this point to let the franchise go.

[🏀]

Sounds like the deal is done according to the


TWITTTTTAAAAA TRAAAAACKAAAA

Thanks for the new stadium, Wisconsin!

[GGGG]

Its being voted on in the Senate now.  The Assembly hopefully will pass it then without changes.

[Cooby Snacks]

Passed the senate easily 21-10.

[brandx]

As expected - although 21 votes is higher than I thought.

Although politicians still have a chance to screw it up.

[GoldenWarrior11]

Hopefully, with expected ground breaking this fall, we can hope to play in a new stadium by the time the 2017-18 season rolls around.

[jsglow]

Where's the 'Its Happening!' guy?