The Louisville Arena Authority today announced that a plan to pay for a new downtown arena has been finalized. But rather than shed light on the complex financing plan (details, details), Arena Authority Chairman Jim Host spent most of today’s meeting thanking, well, pretty much everyone in the room.

After a representative with Goldman Sachs glossed over the complicated bond deal, Host rattled off a long list of thanks, asking each group in the audience to stand for applause: Metro Council, the Downtown Development Corporation, Greater Louisville Inc., LG&E, the University of Louisville … just to name a few.

The love-fest continued with Gov. Steve Beshear, Mayor Jerry Abramson and U of L President James Ramsey heaping praise on the project, before accepting a giant ceremonial check (that’s right, the kind they give lottery winners and game show contestants) for $349.2 million.

As for the financing, here are the details that came out of today’s meeting: The Arena Authority secured $349.2 million in bonds to pay for the 22,000-seat facility, which is slated to open as the new home to U of L basketball in November 2010. Over the next 30 years, the city is expected to pay $585 million to cover the cost of the principal and the interest. (SK)