Milwaukee Alderman wants city to reassess arena funding
Milwaukee Alderman Joe Davis wants city leaders to reassess how they can help fund a new downtown arena. Former Milwaukee Bucks owner Herb Kohl plans to pitch in $100 million towards the project. Current owners Wes Edens and Marc Lasry have committed to around $150 million. But some believe the arena could cost nearly $500 million. Governor Scott Walker introduce a plan that uses $220 million in bonds to help pay. But state lawmakers want more details on it before signing off. Many say Milwaukee and Milwaukee County need to step forward with plans.
Alderman Davis says it's time for Milwaukee to come forward. In a press release he said, \"as state legislators debate a budget that includes a $220 million funding plan for a new Milwaukee Bucks arena, Milwaukee Alderman Joe Davis, Sr. said it is time for the city to reexamine what its role could be in contributing to the project.
“During the city's 2015 budget debate, I proposed an amendment that would have created $100 million in bonding authority that the council could have voted to tap for a Bucks arena,” Alderman Davis said. “This amendment did not get the support it needed to pass. But now that the state has stepped up with a proposed contribution, I think it's time we discussed the city's responsibility in this process.”
Davis will talk with reporters at 10:30 Wednesday morning.