Seattle's NBA Arena Deal Hits a Snag

Not like it matters cus you clowns weren't getting !!, however, our turn...paybacks a !!, oh and....................#SeattleLost

July 30, 2012

Seattle's NBA arena deal hits a snag

The Seattle City Council is balking at a proposal to build a new basketball arena south of the city's downtown.

A proposal to build a $490 million arena in Seattle has fueled hope that the NBA would return to the Northwest, following the departure in 2008 of the Sonics. And much of that hope was turned with a watchful eye toward Sacramento - and the belief among some in Seattle that the Kings are a prime target for relocation.

But now Seattle's own arena plans have hit a snag.

Most of the City Council wants the city to receive some of the tax revenue generated by the arena, along with other financial guarantees before agreeing to the deal, The Seattle Times is reporting. The city has been asked to contribute $120 million in bond financing, with taxes from the arena going to repay those bonds.

In a letter to Chris Hansen, who has proposed the arena, the council wrote the deal is not "an appropriate balance of public and private benefits, nor (does it) sufficiently protect the City from the financial risks inherent in the arena's financing," according to The Times.

This doesn't appear to be a [rip] blow for Seattle's arena plans. But it's certainly worth noting that the political climate in the Emerald City seems less inviting to Seattle's arena deal than Sacramento was to its own plan.

Read more here: City Beat: Seattle's NBA arena deal hits a snag



Source: City Beat: Seattle's NBA arena deal hits a snag

why so hostile

14 pages

cause seattle is a synonym for !!

thanks for making the thread for me.... in other news they're voting for some !! atm:
Amendment b1 adopted: the name Supersonics to be retained by the city/county
Amendment b2 adopted: allocating 1500 below-market ticket prices for low-income & disadvantaged. The standard is 500.
Amendment b3 adopted: SEPA, transportation, economic analysis by independent external consultants (paid by ArenaCo)
Amendment b4 adopted: portable lease for Seattle Storm/professional women's basketball

hope is all i want [pic]

Julia Patterson (District 5): Yes


this !! voted "no" for safeco and qwest field btw. [pic]

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iits going to be sad / ironic when the kings move to seattle

Seattle Arena Plan ‏@ArenaSeattle
We already know Councilmember McDermott is a yes, but he hasn't gone yet. Plan will have enough votes to pass!

What will Kings be called when they move to Anaheim?

You wouldn't know how he feels unless you're a fan of a team that's constantly talked about for relocation. I saw Oklahoma city and San Antonio try to steal the Hornets/Saints.

To constantly have dudes on boxden, the media, etc talking about it like it's a certainty, !! is mad annoying.

thread backfire...

sweet. they deserve a team and the kings do also.

Backfire hahahhaah yeah keep counting those council votes what you don't realize is in sac and most new arena votes the city councils all passed the votes yet the arena deals all fell through...but keep posting clowns hope is ALL you have...anyways so what's your window when we can call you all retards when you still don't have a team...1 year, 2,...5-10???....hahahaha love myself a good comedy

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just send em to Hartford [pic]

Seattle SuperSonics ‏@BringBackSonics
The @kccouncil has approved the @sonicsarena plan with a vote of: 6-3. We're 1/2 way there Sonics fans! #bringbackoursonics

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look at the beautiful arena they could be using

[pic] not even 1/8 there but like I said answer my question wheb can I call you a retard when you still have no team after 1 year, 2, 5, 10?

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