REFERENDUM PROPOSAL REJECTED
The San Antonio City Council voted 6-5 on Monday to reject a proposal that would have allowed voters to decide on the city’s contribution to the new Spurs arena.
As a result, the issue will not appear on the November 3 midterm ballot.
A $1.3 BILLION ARENA PROJECT
Public funding includes $311 million from Bexar County and $489 million from the city.
Last November, Bexar County voters approved Proposition B with 52.1% of the vote, authorizing $311 million in county venue-tax funding for the project.
The proposed arena is expected to cost $1.3 billion, with the city contributing the remaining $489 million in public funding.
THE MAYOR’S POSITION
Gina Ortiz Jones had pushed for a public vote, arguing that San Antonio’s financial outlook had changed.
Mayor Gina Ortiz Jones had called for a citywide vote despite the fact that the city was not legally required to seek voter approval for its contribution.
Jones pointed to a projected $158 million budget deficit in 2027 and argued that San Antonio’s financial situation had changed since last year’s county vote.
However, the $489 million in proposed arena bonds could not be used to cover the city’s operating-budget shortfall.
BUFORD: “WE CAN NOW MOVE FORWARD”
The Spurs CEO welcomed the council’s decision and said the organization can now focus on delivering the arena project.
Spurs CEO R.C. Buford said:
“Today’s decision allows San Antonio to move forward on a path that was established through years of work, public discussion, city and county action and last year’s vote.”
Buford said the franchise can now turn its attention toward delivering the project and its potential transformational impact on the city.
THE SPURS WILL INVEST AT LEAST $500 MILLION
The franchise has also committed to covering any construction cost overruns.
The Spurs have committed at least $500 million toward construction of the new arena and have agreed to cover any cost overruns.
Buford emphasized that significant work remains, but said the Spurs are committed to working with public and community partners to deliver a downtown arena and district designed to strengthen San Antonio for generations to come.
Source: ESPN
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