Overview
- The council voted 5–6 on Monday to deny Mayor Gina Ortiz Jones’ request to place the city’s $489 million bond on the Nov. 3 ballot, keeping the financing framework intact.
- Under the retained plan the city would issue revenue‑backed bonds repaid by four specific streams: the Spurs’ arena lease, ground leases of adjacent city land to developers, property tax increment from Hemisfair development, and state hotel‑tax dollars via a Project Finance Zone.
- Bexar County approved its $311 million venue tax in November 2025 but has not started collecting that revenue while County Judge Peter Sakai reviews protections for taxpayers and warns of possible legal action if the city does not deliver its share.
- Supporters including business leaders and Spurs officials said Monday the vote clears a major hurdle and lets the parties finalize deals, while opponents and some residents warned the vote removes a public check on a large public investment during a growing FY2027 budget shortfall.
- The broader history shows the $1.3 billion arena depends on SS&E contributing about $500 million, complex downtown development to generate promised revenues, and past voter decisions that saw low turnout and heavy Spurs campaign spending in 2025.