Funding a new Bucks arena: Barrett says "city and county together" will pitch in $50M

MILWAUKEE (WITI) -- Who is going to pay for a proposed downtown Milwaukee Bucks arena, and how? Milwaukee Mayor Tom Barrett quoted Green Bay Packers quarterback Aaron Rodgers Thursday, April 2nd when asked about a funding proposal for a downtown Milwaukee Bucks arena -- saying "just relax."

The new arena is required by the NBA in order to keep the Bucks in Milwaukee. A plan must be in place by 2017, according to NBA rules. On Thursday, Mayor Barrett announced a huge pledge towards the project on behalf of the city of Milwaukee, and he says the county will contribute as well.

Mayor Barrett is pledging $25 million in infrastructure improvements towards the project. He says Milwaukee County/County Executive Chris Abele is also on board with a $25 million contribution.

"The city and county together will reach that $50 million mark. I will continue to do what I have done in this process -- that is to make sure that I am looking out for the best interest of the city of Milwaukee taxpayers," Mayor Barrett said.

Barrett says he supports Governor Scott Walker’s proposal which involves the state contributing $220 million in bonds and using some funds coming from players' income taxes for the arena. That plan appears to have stalled -- though Barrett says he still supports it.

Governor Walker’s proposal calls for $50 million from sources other than state government. Barrett says he and Milwaukee County Executive Chris Abele will be able to hit that number.

Barrett says the majority of the funds from the city will come in the form of needed infrastructure improvements, like a new sewer or parking lot.

Meanwhile, Senate Majority Leader Scott Fitzgerald has introduced his own alternative plan.

In it, he proposes using a loan from the state “Public Lands Board” to contribute $150 million to the arena project.

Republican legislative leaders have been meeting this week with the Bucks and officials from Milwaukee County and the city. Assembly Speaker Robin Vos says Fitzgerald's plan is a step in the right direction.

Vos says the arena project is expected to cost around $500 million. Under Fitzgerald's plan, the state is willing to pitch in no more than $150 million, with Bucks' owners and team members giving roughly $250 million. Vos says he's disappointed the city and county will only cough up $50 million -- saying there's still a gap involving another $50 million.

"The Bucks are a huge economic driver for the city of Milwaukee. Knowing that the state of Wisconsin has said $150 million and would already be a bigger player than the local -- I think (Barrett) needs to go back and look at what`s realistic and possible," Vos said.

Barrett says Fitzgerald's plan would secure funds at a lower interest rate, but there’s still lots of work that needs to be done.

"If there is a gap, there are many people at this table. If people want to get this done, they are going to get this done," Barrett said.

A deal has yet to be finalized. However, something needs to be in place by 2017 in order to keep the Bucks in Milwaukee.