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Governor Beshear asks lawmakers to provide $65 million for the Rupp Arena renovation

During a media briefing this afternoon, Governor Steve Beshear said that he’s asked the state to provide $65 million in bonds to the Rupp Arena renovation project, and that the total cost of the project will be around $310 million. Beshear said that the rest of the money for the renovation will come from the “community,” aka local and private funds.

The news comes on the heels of Lexington Mayor Jim Gray’s comments during his State of the City address that a new design for the Rupp renovation will come “in the next few days,” and Governor Beshear’s spokeswoman says that they hope to have the financial plan for the project completed in a few weeks.

After a long period of indecision, it seems like this project is finally moving forward.

Read more details at the Herald Leader.  Now, let’s go beat the Aggies.

Article written by Mrs. Tyler Thompson

No, I will not make you a sandwich, but you can follow me on Twitter @MrsTylerKSR or email me.

22 Comments for Governor Beshear asks lawmakers to provide $65 million for the Rupp Arena renovation



  1. Mc
    9:03 pm January 21, 2014 Permalink

    Wouldn’t it be cool if the Governor came out to make sure teachers pensions were covered? If we want updates to Rupp let’s get donations. I didn’t think we had all this money sitting around…



    • ktmiln2
      9:15 pm January 21, 2014 Permalink

      It would even be cooler if you understood how the bonding system works and is in no ways elated to pensions.



    • UkNeal7
      12:27 am January 22, 2014 Permalink

      ktmiln2, the bonding will raise money to be used on the arena. $65 million dollars worth assuming they are able to find buyers. If you can issue bonds for Rupp that total $65 million then you can issue bonds to raise capital in order to cover the teachers pension plans. Simple as that.



    • UkNeal7
      12:28 am January 22, 2014 Permalink

      I meant to say borrow money to cover the pension program not raise capital. It’s late. My B



    • ktmiln2
      7:57 am January 22, 2014 Permalink

      UKNeal7- Not necessarily. Bonds have to be paid. It’s a lot easier to issue bonds to a project that will have revenue stream. And mainly, my problem is with people who assume because the Rupp Arena project is getting bonded, it’s taking away resources from other venues when it’s not.



  2. 12th man
    9:06 pm January 21, 2014 Permalink

    Will louisville fans be paying for rupp since we have to pay for the chicken coop.



  3. delriocatfan
    9:18 pm January 21, 2014 Permalink

    It is a terrible idea to use public money for sports stadiums. I am the biggest UK fan I know and this project is a terrible idea. Fund the project privately and stay within that budget. I vote against Gov Beshear based on this.



  4. Mac
    9:20 pm January 21, 2014 Permalink

    Interesting considering the city of Lexington currently owes 270 million to the firefighter and police officers pension. But hey, we really need those seat backs.



  5. Mac
    9:22 pm January 21, 2014 Permalink

    Whats a couple of lawsuits by retired firefighers and police officers though.



  6. Woody P
    9:27 pm January 21, 2014 Permalink

    Why does Cal set Alex and Jarod when it was the Harrison twin that was to lazy to come to the ball!! He needs to set them more.



  7. Ukcatzfan
    10:10 pm January 21, 2014 Permalink

    310 million ????
    You could build A new ARENA for that money



  8. HendoCat
    10:38 pm January 21, 2014 Permalink

    Are they adding any addition ice cream stands?



  9. Some Guy in Kentucky
    11:20 pm January 21, 2014 Permalink

    How many events a year will it take to cover the bond obligation on “new RUPP”? How many more events a year will it need then it gets now? How many events will it need to take from the Louisville YUM center?



  10. dr uk
    11:52 pm January 21, 2014 Permalink

    With all the gov’t cutbacks in education and services— is he kidding? The faculty get paid in the lowest tier and tuition is skyrocketing. There is nothing wrong with Rupp. We just can’t afford this one. Find a way to pay for it with private funds. Other schools have been very successful in securing private funds.



  11. just saying
    12:03 am January 22, 2014 Permalink

    putting 310M into a 40 y/o building??

    For that money, I say cap the lower level in Rupp for smaller venue events, and build a new arena in the adjacent parking lot.



  12. Dee W.
    12:40 am January 22, 2014 Permalink

    “Governor Beshear asks lawmakers to provide $65 million for the Rupp Arena renovation”

    Lawmakers? You mean he’s asking the lawmakers to have the taxpayers pony up the dough.



  13. Jimmy
    1:54 am January 22, 2014 Permalink

    This is bullsh t . I work in a factory . When they put me on lack of work a few weeks a year I have to wait a week . To get a unemployment check . Because of be shear . But he can ask for taxs payers money for rupp . Or the yum center



  14. HackRichards
    8:30 am January 22, 2014 Permalink

    hey Liberals! Coal would have funded all this project BUT your policies have shut down the business!



  15. Kevin retired miner Jenkins Ky
    9:25 am January 22, 2014 Permalink

    Hack, coal is dead. Has been dead. Long before this president. If coal companies cared.bout jobs they would use men not machines. In 1960 there where 100,000 miners. Now less than 10,000 and more than half are on mountaintop removal jobs. If coal was to make eastern ky wealthy it would be one of the wealthiest parts of America, not the poorest. Have a long term vision. The easy coal is all gone!



  16. jim
    9:41 am January 22, 2014 Permalink

    Hack,why don’t you print the truth instead of the liberal talking points?Your man Carter(2nd worst potus) started the downfall of coal.In the mid 70s it cost more to reclaim the land than it did to mine the coal because of liberal BS.



  17. Tom Jurich
    12:47 pm January 22, 2014 Permalink

    Wait, $310 million to renovate an arena that is in no way historic and expand a convention center. Bwahahaha! I win again!



  18. Hulk Hogan
    12:52 pm January 22, 2014 Permalink

    So before Carter ruined coal, Eastern Kentucky was one of the richest parts of the state? No? It was one of the poorest in the country back then too?