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1h ago

San Antonio Council Backs $1.3 Billion Spurs Arena Term Sheet in 7–4 Vote

The approval sends the plan to a November Bexar County referendum on hotel-tax funding.

The drum-shaped John H. Wood, Jr. Federal Courthouse and curved Adrian A. Spears Judicial Training Center, left, are seen in Hemisfair Park on Tuesday, Jan. 7, 2025 in San Antonio, Texas.
The Alamodome, left, and former home of the UTSA Institute of Texan Cultures, right, are seen separated by US 281on Tuesday, Jan. 7, 2025 in San Antonio, Texas.
Crew members work to install the new sign at Frost Bank Center on Friday, Oct. 6, 2023 in San Antonio, Texas. The Frost Bank Center, formerly known AT&T Center, is home to the San Antonio Spurs.
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Overview

  • Council rejected Mayor Gina Ortiz Jones’ bid to delay for an independent study by a 4–7 vote before approving the nonbinding term sheet 7–4.
  • Funding outline: Spurs commit $500 million plus all cost overruns; the city pledges up to $489 million via leases and tax-capture mechanisms; Bexar County proposes up to $311 million subject to Nov. 4 voter approval.
  • The framework includes a 30-year lease with a non-relocation agreement, $4 million in annual rent escalating 2% yearly, and $2.5 million per year in community programs totaling $75 million.
  • The planned site is the former Institute of Texan Cultures, with the city expected to buy the property for about $60 million and the Spurs pledging up to $30 million toward nearby federal land acquisition.
  • Target opening is the 2032–33 season with 17,000–18,500 seats within a broader Project Marvel plan that foresees $1.4 billion in adjacent private development, and the county ballot is the only public vote on the financing.