“Those who benefit most from new arena, like MMAC and its member businesses, should help bear the financial burden.”
Madison – Today State Senator Tim Carpenter (D-Milwaukee) issued the following statement on the need for local business investment in the plan for a new Bucks arena.
“It is time for Metropolitan Milwaukee Association of Commerce to put their money where their mouth is. MMAC and their member businesses have been persistent in promoting the proposition that their businesses will profit from the construction of a new Bucks arena and a new entertainment district. Well, it is time for these folks to put a little skin in the game,” said Carpenter.
Carpenter noted that in August of 1995, before the construction of Miller Park, various interested parties signed a memorandum of understanding of which parties will be responsible for various costs of construction and maintenance, and infrastructure improvements for the new ballpark.
“MMAC has clearly promoted itself and its business members as an interested party in the new arena and entertainment district. As such, the state should have an ironclad agreement that MMAC and its member businesses will contribute at least $25 million towards the construction of this arena. Frankly, given the benefit they say their businesses will reap, this is a small thing to ask. Given the fact that MMAC had a seat at the table crafting this plan, I’m very surprised that MMAC has not publically come forward with such an offer themselves,” said Carpenter.
Carpenter also noted that Marquette University will also be using the new arena, but has refused to put in a dime as part of the deal to finance the arena.
“I have been consistent that those who will benefit from the arena should help bear the burden for its costs,” said Carpenter.