Wisconsin Gov. Walker Signs Into Law Bucks Arena Funding Plan

Wisconsin Gov. Scott Walker today signed into law a plan to raise $250M in public money for a downtown Bucks arena and "puts the project on track for a fall groundbreaking." Walker signed the bill at the State Fair to "highlight the arena will be good for the whole state." The plan "splits the public funding between the state of Wisconsin, Milwaukee County and the city." It also "creates a $2 surcharge on arena ticket sales to pay off money that will be borrowed to build the arena." The county will make a $4M annual contribution to arena financing (BIZJOURNALS.com, 8/12).

The team still "needs to work out a land sale with Milwaukee County and get approval" for the arena from the Milwaukee Common Council. Bucks officials have said that the "remaining pieces could be assembled in time for construction to start in the fall" (JSONLINE.com, 8/12).