The Menominee tribe of Wisconsin proposed to pay the state $220M to cover the taxpayers' share of the Bucks' arena project "in exchange for approval of its proposed Kenosha casino," but Gov. Scott Walker "quickly shot down the offer," according to Walker & Spivak of the MILWAUKEE JOURNAL SENTINEL. Wisconsin Dept. Of Administration Secretary Mike Huebsch said that the governor "will not reverse his decision to kill the Menominee casino." Records show that the Menominee tribe "made a similar offer during negotiations with the state in October," when it "offered to pay the state 2.5% of the casino's net win for 10 years, with that money going into a trust to help pay the cost of the arena." Menominee Chair Gary Besaw and Hard Rock Chair Jim Allen, whose company is working together with the tribe, said that yesterday's $220M offer "could actually be larger" as the money "would be paid out over a 25-year period and could be valued" at as much as $300M. Walker administration officials are skeptical that the Kenosha casino "would generate enough revenue to cover payments for the arena as well as the operation's promise to pay the state 7.5% of its net win" (MILWAUKEE JOURNAL SENTINEL, 2/11). In Milwaukee, David Schuyler reported the tribe yesterday "asked for a formal meeting with Walker as soon as he returns from his Great Britain trip aimed at attracting foreign business investment to Wisconsin." Walker is set to return to the U.S. on Friday, but Huebsch in a statement said that the administration "is done with the matter" (BIZJOURNALS.com, 2/10).
STAND BY YOUR MAN: In Milwaukee, Rich Kirchen reported Bucks owners and execs "continue to support"
Walker's $220M arena-funding proposal. Team President Peter Feigin said that he "is not focused on the proposal from the Menominee and Hard Rock." Feigin: "I don't like anything that takes focus off of the legislation to build this arena." He added that he "had not received a call from either the Menominee tribe or Hard Rock officials." But Feigin said that he "would 'not say no' to such a discussion" (
BIZJOURNALS.com, 2/10).
