Bucks' Arena Financing Plan Reportedly Caps Public Cost At $250M

Wisconsin Gov. Scott Walker and legislative leaders today are expected to announce that the Bucks "would be on the hook for any cost overruns" for their proposed $500M arena, with the "public's share of the expense for the facility" capped at $250M. Sources said that the "final sticking points have been resolved," but the deal's "future is still uncertain" in the Legislature. The state would borrow $55M, and the Wisconsin Center District would issue $93M in bonds. The state also would funnel $80M to the arena over 20 years by "recovering Milwaukee County's uncollected debt." The city of Milwaukee would chip in $47M (JSONLINE.com, 6/4).