Milwaukee City Council Begins Hearings On Bucks Arena Plan

A financing proposal for a new Milwaukee Bucks arena is being taken up by the city Common Council at a Monday afternoon hearing.

Under the arena financing package passed by state lawmakers, Milwaukee would use $47 million in tax incremental financing to build a nearby parking structure and public plaza. Some local residents say the well-to-do owners of the Bucks basketball team don’t need any taxpayer assistance. However, Mayor Tom Barrett said the money is a good investment for the city, and a relatively small part of the $500 million project pricetag.

“That is going to create hundreds, if not thousands of jobs, that will be paid for with $250 million of private money,” said Barrett.

Former and current owners of the Bucks are promising to pay half the arena’s cost. A vote on the city’s contribution is scheduled for next month.