Wisconsin Assembly Speaker Robin Vos yesterday said Gov. Scott Walker's plan for a new Bucks arena has "zero chance" of passing the Legislature in its current form, according to Scott Bauer of the AP. Vos said that the plan's odds would "improve dramatically" -- up to 80% -- if the city of Milwaukee and Milwaukee County "join the state in helping to pay for the arena." Walker last week called for the state to "issue or contract" $220M in appropriation bonds to help pay for the project (AP, 2/4). In Milwaukee, Rich Kirchen reported Walker's proposal for $220M in state financing for the arena requires $300M in other funding "to be secured first." The conditional-funding requirement "is included in a state Senate bill Walker introduced Tuesday night in Madison." The $300M "presumably would come from a combination of private and public sources." So far, Bucks co-Owners Marc Lasry and Wes Edens along with former Owner Herb Kohl have pledged a combined $250M for a new arena, which "would leave a gap" of upward of $50M (BIZJOURNALS.com, 2/4).
RED-TAPE DISTRICT: In Milwaukee, Don Walker reports the governor's arena proposal "would give a newly formed sports and entertainment district the power to oversee construction and operate and manage the building." The new district "would not be able to take on debt or impose taxes." Walker during his budget address on Tuesday night "did not mention" the arena plan. Meanwhile, opponents "have raised questions why Walker is backing public financial support for the Bucks" while calling for a $300M cut in "funding for the University of Wisconsin System" (MILWAUKEE JOURNAL SENTINEL, 2/5).
