Arena announcement planned for 3:15 p.m.

Last updated on July 3rd, 2019 at 07:14 pm

Gov. Scott Walker, as well as legislative and local leaders, will make an announcement at 3:15 p.m. in Madison about the proposed Milwaukee arena.

The planned announcement, confirmed by the governor’s office this morning, will be held at the State Capitol Building. BizTimes Media and WISN 12 News will be covering the announcement this afternoon.

The announcement will lay out the framework for a proposed agreement for public financing for the new arena in downtown Milwaukee.

The terms of the proposed agreement have not been disclosed, but sources say the public’s share of the financing will be half of the estimated $500 million costs to build the arena, which will be needed to keep the NBA from moving the Milwaukee Bucks to another city.

Meanwhile, the Bucks’ owners have submitted a development proposal for the $400 million development that will surround the proposed arena.

In Milwaukee today, a group called the Alliance for Good Jobs is protesting the arena deal outside Milwaukee County Executive Chris Abele’s office because it would like the agreement to include a commitment to creating higher wage jobs at the development. The group includes politicians and several union and educational leaders.

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