Lawmakers Reviewing Rupp Arena Financing Proposal

Lawmakers Reviewing Rupp Arena Financing Proposal

Supporters of a plan to help finance Rupp Arena's renovation are mounting one last effort to persuade Kentucky lawmakers to include state-backed bonding for the project. It's the legislative equivalent of a last-second shot at the buzzer.
Supporters of a plan to help finance Rupp Arena's renovation are mounting one last effort to persuade Kentucky lawmakers to include state-backed bonding for the project. It's the legislative equivalent of a last-second shot at the buzzer.

Gov. Steve Beshear said Monday he's trying to win support for a plan that calls for $80 million in state-backed bonds to help renovate the home of the University of Kentucky men's basketball team. Officials from Lexington and UK are pressing their case with lawmakers.

Lawmakers refused to include $65 million in state-backed bonds in the two-year state budget that passed the General Assembly.

Beshear says the revised financing plan does not depend on letting Lexington officials increase their local hotel tax.

That proposal passed the House but has stalled in the Senate.

Page: [[$index + 1]]