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Courtesy of Seattle Channel
King County Executive Dow Constantine and Seattle Mayor Mike McGinn were joined today by private investor Chris Hansen as they announced agreements between the City, County and ArenaCo to govern the financing of a proposed new arena.
Executive, Mayor and Chris Hansen reach agreements that govern financing for proposed arena
King County Executive Dow Constantine and Seattle Mayor Mike McGinn were joined today by private investor Chris Hansen as they announced agreements between the City, County and ArenaCo to govern the financing of a proposed new state-of-the-art, multi-purpose arena in the Stadium District of Seattle’s SoDo neighborhood.
Executive Constantine and Mayor McGinn detailed important taxpayer protections within the agreements in a joint letter to their respective Councils:
- No new taxes are being sought for construction or operations;
- The project will be self-financed by using revenue that would not otherwise exist but for the operations of the arena;
