Seattle City Council not ready to support new arena initiativePosted by Inside Hoops
Eight of nine Seattle City Councilmembers have sent a letter to the investor seeking public help to build a new sports arena in the city, saying changes must be made to a proposal before they can support it.
The Council wants to alter a memorandum of understanding between Chris Hansen and the city to ensure that a portion of tax revenues generated by a new arena would help pay for local transportation improvements. Currently, the proposal calls for those taxes to be used to pay off the $200 million in city and county bonds that would be issued to help pay for the $490 million arena.
– Reported by the Associated Press