May 10, 2019
In a Board Meeting this morning, the Wisconsin Center District shared an updated timeline for the funding portion of the completion of the Wisconsin Center.
An RFQ was publicized to financial institutions in mid-April with a deadline of noon on May 1, 2019. Thirty four responses were received, with ten respondents offering to serve as the lead investment bank. The WCD funding subcommittee has reviewed the submissions and has identified Morgan Stanley as the lead investment banking firm for the potential debt offering.
“We were overwhelmed by the credentials and number of financial institutions who responded to our RFQ and very encouraged by the level of interest in our project,” said Marty Brooks, President and CEO of the Wisconsin Center District. “The responses endorse our belief that completing the Wisconsin Center will serve as an economic accelerator to convention business in our state.”
“Our subcommittee is comprised of experts in convention business, commerce, and finance. We have multifaceted representation with the intention of presenting the most educated recommendations to the Board for this important project,” said Jim Kanter, Chairman of the Board of the Wisconsin Center District.
The subcommittee plans to provide financing plan recommendations to the WCD Board later this year. During that time the WCD also plans to issue an RFQ for architectural firms to begin proposals on design and layouts of the Convention Center completion.
More information on the need for a larger convention center as well as the corresponding economic impact of such a facility in Milwaukee is available here. The next meeting of the WCD Board is scheduled for Friday, August 16.