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4w ago

San Antonio Council to Weigh Spurs Arena Term Sheet or Mayor’s Delay Push

The debate centers on a $1.3 billion Hemisfair proposal with defined public and private funding, a non-binding framework, and county dollars contingent on a November hotel tax vote.

A Spurs arena would be the centerpiece of the city’s proposed sports and entertainment district, which would include reconfiguring the round John H. Wood Jr. Federal Courthouse on the left as an event venue.
An arena for the San Antonio Spurs could be built at the former Institute of Texan Cultures property, shown here in the foreground, at Hemisfair. 
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Overview

  • On Thursday, the council will choose between authorizing the city manager to execute a non-binding term sheet or pausing for an independent economic analysis and district town halls.
  • At least five to six council members have signaled support for advancing the term sheet, leaving Mayor Gina Ortiz Jones facing long odds to secure a delay.
  • Draft terms outline a $1.3 billion arena with SS&E contributing $500 million and covering 100% of cost overruns, the city responsible for up to $489 million, and Bexar County up to $311 million pending voter approval.
  • City dollars would be backed by arena and ground leases, Hemisfair tax increment revenues, and a project finance zone rather than the general fund, and SS&E proposes a $75 million community benefits package over 30 years.
  • The term sheet is a precursor to binding lease and non-relocation agreements, and the process has drawn competing public campaigns as the mayor cites consultant ties in prior studies and business leaders urge a vote to proceed.