Seattle Politicians Not Ready to Support Initiative to Bring Back an NBA Team

by July 30, 2012
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The city council in Seattle isn’t satisfied with investor Chris Hansen’s initial proposal to bring back an NBA squad, and his plan to build an arena that’s paid for in part by public funds. Per the AP: “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. Traffic concerns in the SoDo neighborhood – where Safeco Field, CenturyLink Field and the Port of Seattle all share limited neighborhood space – have been at the core of arguments against Hansen’s plan.”