Gov. Scott Walker stopped at State Fair Park Wednesday morning. The purpose of his visit was to sign into law the state’s funding package to help pay for a new arena for the Milwaukee Bucks.
The plan commits $80 million in state funding to the roughly $400 million dollar project. The deal calls for contributions from the City of Milwaukee and Milwaukee County, as well. The lion’s share of the taxpayers’ responsibility will come through bonds the Wisconsin Center District issues. The Bucks current and former owners are contributing a combined $250 million.
The NBA has threatened to move the Bucks to another city, if the team does not have a new arena in coming years. Proponents of the state funding package say it will ensure the Bucks remain in the community, contributing to the local economy. Opponents raise concerns about the government borrowing large sums of money for a private enterprise, and suggest if there’s money to be spent, it should pay for things like education and social programs.
