Seattle City Council approves new arena deal
September 25, 2012Eastern Indiana Sports
Seattle, WA (Sports Network) - The Seattle City Council has approved a deal to build a $490 million multi-purpose sports and entertainment arena that could host NBA and NHL teams.
Council members voted 6-2 on Monday to approve investor Chris Hansen's plan.
Seattle has been without an NBA franchise since the Sonics left in 2008 after an effort to build a replacement for Key Arena never came to fruition.
"Council staff, lawyers and councilmembers have worked hard to produce an agreement that protects the city, charts the right site review process and secures appropriate public benefits," said council president Sally J. Clark. "Today's vote closes one phase of tasks and begins another, including work on how we plan for a bright future at Seattle Center."
The King County Council already approved the original deal but needs to approve the revised version. It also must pass an environmental review.
Hansen redirected some of the tax revenue generated by the arena to help make road improvements, creating a $40 million SODO Transportation Infrastructure Fund to address longstanding transportation problems in the area.