All articles tagged with #private funding
President Trump is constructing a $250 million, privately funded ballroom at the White House, which will be nearly double the size of the current main space and accommodate up to 999 people, with construction starting despite some regulatory hurdles and demolition of part of the East Wing.
The Chicago Fire MLS team plans to build a $650 million stadium along the Chicago River, fully privately financed by owner Joe Mansuetto, set to open in 2028 within The 78 development, marking a shift away from public funding for sports venues.
Wisconsin voters approved two constitutional amendments that prohibit the acceptance of private grants for election administration and restrict non-election officials from participating in election tasks. The amendments were proposed by legislative Republicans in response to Democratic strongholds receiving millions in grants from a nonprofit funded by Mark Zuckerberg. Critics argue that private funding should be allowed due to inadequate government funding, while others believe the second amendment is too vague. The amendments are expected to impact the upcoming presidential election in Wisconsin.
Wisconsin voters approved two GOP-backed constitutional amendments that ban the use of private funds in election administration and narrow the role of election workers. Critics argue that the measures stem from unfounded conspiracy theories, while supporters claim they will eliminate "dark money" from elections and streamline administration. The measures have roots in claims about the 2020 election and were referred to voters after the Democratic governor vetoed similar laws. The impact of these amendments could affect election administration and funding in the critical battleground state.
Arena BioWorks, a privately funded biomedical research institute, has been launched with a focus on uncovering disease mechanisms and translating insights into biotech therapeutics. Co-founded by Harvard scientist Stuart Schreiber, the institute aims to support the development of for-profit biotechnology companies and will operate under a self-sustaining model. By empowering scientists to investigate any disease and seamlessly translating insights into company formation, Arena seeks to accelerate the progression from human biology to drug development. The institute's unique model will foster cross-collaboration among its companies and provide shared resources for efficient progress. With a focus on areas of brain health, oncology, immunology, and aging, Arena will advance platform technologies and leverage interdisciplinary talent to maximize innovation.
The Oakland A's have not disclosed how they will finance their $1.1 billion portion of the proposed $1.5 billion stadium on the Las Vegas Strip. The team is working with Goldman Sachs on a combination of debt and equity financing, but the full private funding details won't be completed until after legislation authorizing up to $380 million in public financing is approved. The A's contribution was not explained during two legislative hearings, but the team is required to have "irrevocable financing in place" before Clark County issues development bonds for the stadium.
Georgia Governor Brian Kemp has signed a bill that prohibits county election offices from receiving private donations, including from nonprofits, for election costs, making it a felony offense. The law is a response to concerns raised by Georgia Republicans over private donations funding electoral infrastructure, particularly after Mark Zuckerberg's Center for Tech and Civic Life poured over $400 million into election offices across the US in 2020. Georgia received approximately $45 million from the Zuckerberg-funded organization, with the majority going to Democrat-leaning counties. This law is part of a nationwide movement to ban private funding of elections.