Governor Walker to Unveil Arena Plan Tomorrow

[GGGG]

http://www.jsonline.com/news/milwaukee/walker-expected-to-announce-plan-for-support-of-new-arena-b99433581z1-289859321.html?page=1

"Gov. Scott Walker is expected to announce Tuesday morning that he plans to put into the state budget a financing plan that includes bonding to help build a multipurpose arena in downtown Milwaukee.

A source familiar with Walker's plan said the governor's plan relies on the diversion of income taxes paid by visiting National Basketball Association athletes as well as Milwaukee Bucks players to pay the debt service on the bonding. The plan also could include diverting sales taxes paid for some goods and services at the new arena."

...

"The Bucks have not yet named a specific site for the arena, though the leading candidate appears to be the land just north of the BMO Harris Bradley Center."

[Warrior1969]

Awesome, but will the street car stop there?

[Groin_pull]

Great to hear. Hopefully no local politicos attempt to make a name for themselves by derailing it.

[MUfan12]

Great to hear. Hopefully no local politicos attempt to make a name for themselves by derailing it.

With his aspirations, Walker wouldn't take the chance of being repudiated by a Republican legislature. If he's announcing it, they're on board.

[Blackhat]

Sounds good to me.  It looks like we're getting some leadership on this issue.

[Groin_pull]

With his aspirations, Walker wouldn't take the chance of being repudiated by a Republican legislature. If he's announcing it, they're on board.

Hope you're right. But I can't help but think one or more will try to stop it.

[MUfan12]

Hope you're right. But I can't help but think one or more will try to stop it.

Oh, I'm sure there will be a few grandstanders, but not enough to derail it.

[Texas Western]

Would love to see the Grand Avenue site, given proximity to MU. Although anything in Downtown is good for us.

[manny31]

I wonder what happens to the Mecca and the BC? It seems like overkill having the three venues. Maybe demo the Mecca? Some good memories in that building but I think that makes sense.

[🏀]

New arena in the Park East property, BC to be demolished.

[LAMUfan]

done deal?

[Litehouse]

So is the actual arena going to be in the Park East lot (between Juneau and McKinley), or the land between the BC and Juneau?

[chapman]

I wonder what happens to the Mecca and the BC? It seems like overkill having the three venues. Maybe demo the Mecca? Some good memories in that building but I think that makes sense.

UWM Panther Arena is the crown jewel of Milwaukee.  So sayeth three people from UWM.

[Dr. Blackheart]

UWM Panther Arena is the crown jewel of Milwaukee.  So sayeth three people from UWM.

They should buy it then and save us the faux drama. 

[mu03eng]

New arena in the Park East property, BC to be demolished.

I heard differently, but doesn't mean it's wrong.  Would be the most expensive option of the ones I've seen but the least politically difficult.

[Litehouse]

It's nice UWM has so much money to spend on stadium naming rights...
http://www.jsonline.com/news/education/walker-proposes-13-cut-more-freedom-for-uw-system-b99433644z1-289880441.html

Walker's announcement will come just days after UWM Chancellor Mark Mone on Friday told faculty of the College of Letters & Science that the university system was likely to face large cuts, and that they would be more painful than previous trims because "we don't have the (cash) reserves we had then, and we don't have the flexibility because of tuition freezes going forward at least two years."

Mone said whatever is ahead "may be one of the biggest challenges UWM has faced."

[MUfan12]

JS site isn't likely at this point, but it isn't dead yet.

Also, Walker's plan is outlined here-

http://www.rightwisconsin.com/dailytakes/breaking-walkers-plan-to-help-bucks-relies-on-growth-in-revenue-289918211.html

[GGGG]

JS site isn't likely at this point, but it isn't dead yet.

Also, Walker's plan is outlined here-

http://www.rightwisconsin.com/dailytakes/breaking-walkers-plan-to-help-bucks-relies-on-growth-in-revenue-289918211.html

If the state can fiscally get away with that, and the new arena isn't shortchanged, that would really be something.  Can't imagine that those in the know would have a problem with that.

[Litehouse]

So $220 million from the state?  Looks like his accounting method is a little different from what has been discussed previously, but I don't really care as long as it gets done.

[mu03eng]

So $220 million from the state?  Looks like his accounting method is a little different from what has been discussed previously, but I don't really care as long as it gets done.

Previous accounting didn't take into account the essential TIF around concessions and other vender sales at the new arena that the Governor is now proposing.

[Litehouse]

I meant the previous discussions said there was $10.7M in sales tax annually from the Bucks/visiting teams.  Now they're saying it's $6.5M and using the difference to pay off the bonds.

[🏀]

I heard differently, but doesn't mean it's wrong.  Would be the most expensive option of the ones I've seen but the least politically difficult.

UWM and Gimbel, too much crying. Path of least resistance taken, I would be extremely elated if it wasn't true though.

[GOO]

UWM and Gimbel, too much crying. Path of least resistance taken, I would be extremely elated if it wasn't true though.

Too bad, but I agree. Can we make UWM buy the arena?  Probably not as they have a sweet heart lease deal, that is costing taxpayers.  Can't blame UWM for not wanting to give up a great deal that has low payouts by UWM and high payouts by the district that owns the area.  Financially it makes no sense for anyone but UWM.

Really too bad that UWM is part of the problem, given that they are taxpayer supported.  Gimbel's legacy will be bad deals and old buildings in need of tax dollars in the future if he and UWM get their way.

[jficke13]

...
Gimbel's legacy will be bad deals and old buildings in need of tax dollars in the future if he and UWM get their way.

I think that's already his legacy.

[GOO]

I think that's already his legacy.

Probably true.  So he is doubling down on the legacy just to be sure?