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How Will They Pay For Rupp Arena?


The chart above is a couple of weeks old and comes courtesy of the Herald Leader (you can read more on the proposal here). It represents the current plan as to how the new Rupp Arena redesign would be funded if all money is approved. As you can see, the overall cost of $350 million is for the project as a whole, with the Rupp Arena part costing $175 million. We have been of the opinion for some time that the Rupp proposal should stand on its own, away from the proposal for the Convention Center. But as of now, the proposal brings the two together.

I am posting this tonight, because as the week goes on, we are going to dive a bit more into this issue, with the strengths and weaknesses of the proposal and the problems that have led the money to not be approved by the State Legislature. We are still hoping to have the debate on air with the Governor, Speaker of the House, Senate President and Mayor of Lexington, although Senator Stivers’ has been less than helpful in making this happen (more on that tomorrow). Take a look at the chart above, read the story and you will have a good background as we dive into these issues this week. This is an important proposal for not only the future of Kentucky basketball, but one of the two main arenas in the state of Kentucky as a whole. Throw in the economic impact on the downtown of the city of Lexington, and it is an issue of extreme importance. We will be visiting it more this week.

Article written by Matt Jones

6 Comments for How Will They Pay For Rupp Arena?

  1. Offseason blues
    9:43 pm May 11, 2014 Permalink

    Get someone in office that isn’t a ul croonie and doesn’t have their head stuck up their ass.

  2. UKBlue
    11:20 pm May 11, 2014 Permalink

    They need to massively scale back all the stupid stuff like the amphitheater & all the unnecessary stuff. Yes all unnecessary stuff might be nice to have in a perfect world, but this has to get paid for & Rupp has to get done first then the convention center. The politicians need to figure out the difference between a want & a need.

  3. Just curious
    11:54 pm May 11, 2014 Permalink

    How do the $40 million LFUCG and $80 million in state bonds get paid for in this equation?

    • Giggity
      9:12 am May 12, 2014 Permalink

      “Bonds” is just another way of saying the taxpayers will have to pay for it. Semantics.

  4. Giggity
    9:16 am May 12, 2014 Permalink

    How about they use “bonds” to fund the police and fire fighter’s pension, as they promised they would? The police and fire have had their pension contributions taken from their paychecks raised as agreed to, but the city hasn’t paid their part. I realize most of you don’t care about this. Just venting.

  5. Wallace Wilkinson
    2:45 pm May 12, 2014 Permalink

    Now, is this money also going to cover the state contribution to teacher retirement? So far, they haven’t kept up their word from 2010.