From WFPL Staff
With one member abstaining, a subcommittee of the Louisville Arena Task Force voted Friday to recomm/files/storyimages/that a downtown arena would be economically viable. State Rep. Larry Clark did not vote, saying he wanted to see some harder numbers.
The task force's Finance Working Group heard several presentations during the lengthy meeting on the various ways to generate revenue for a downtown facility.
The arena would be built with a combination of public and private money.
Greater Louisville, Inc. the local chamber of commerce, reports that its members so far have pledged $38 million for a downtown facility, with a goal of $100 million.
Mayor Jerry Abramson has already said the city would pay one-third of the cost of a downtown arena without raising taxes. Governor Ernie Fletcher has promised $75 million in state funds.
Those who want to build the arena at the fairgrounds point to the extra cost of buying land downtown and moving LG and E transmission equipment from the site. But downtown arena supporters say the economic benefit will more than offset the extra expense.
The full arena task force meets Monday at 1pm. It has until October 1 to s/files/storyimages/its recommendations to Gov. Fletcher. He will then forward them to state lawmakers.
