Milwaukee funding for new Bucks arena goes before public

People in Milwaukee shared their opinions on the Milwaukee Bucks arena funding plan.

Under the proposal, the city would pay $47 million of the $500 million project.

Comptroller Martin Matson presented a fiscal analysis that concluded with support for Marcoux’s plan – despite acknowledging several studies that have come out opposing public financing for sports arenas.

The assembly marks the primary alternative for the general public to formally touch upon the plan. It also begins the final stage of a process that could see Milwaukee keep or lose a team that has called the city home for almost 50 years.

A spokeswoman for Common Ground told city leaders that if so much money is readily available to build a facility for a professional sports team, there “must also be a similar investment in our neighborhoods and our children”. Opponents argue that rich staff house owners should not obtain public cash that may be higher spent on schooling or public security. Mary Watkins says the city cannot afford millions-of dollars for a project that “billionaires can build on their own”.

After another public hearing, the Common Council is set to take a final vote on the plan September 22. Abston said an National Basketball Association team will help attract and retain skilled workers to the city.

The Wisconsin Legislature and Gov. Scott Walker have accepted a funding plan calling for taxpayers to contribute $250 million to the world over 20 years, though that dedication will develop to $400 million with curiosity.

As part of the deal, Milwaukee would spend $35 million on a new 1,243 space parking structure.

Monday’s listening to might be earlier than a particular committee of leaders on the Widespread Council, the town’s important governing board.

Common Ground stood with Mayor Tom Barrett on Friday when he announced that Nationstar Mortgage, a company with deep ties to Milwaukee Bucks co-owner Wes Edens, would invest $30 million in Milwaukee’s troubled mortgage market.