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San Antonio Spurs After voters in Bexar County took a big step toward getting a new home in the city, texas A plan was approved Tuesday to allow officials to commit up to $311 million in venue taxes to help build the multipurpose arena.
County officials said more than 52% of voters supported the measure, which was strongly opposed by some lawmakers and other groups.
The Spurs have said they will commit at least $500 million to building an arena, plus covering all overruns – which could be significant. They will also pay rent for the new arena, and that money will help offset the city’s proposed $489 million contribution.
Spurs President of Sports and Entertainment Peter J. “We love this city, we love this county, and the county and the city love us,” Holt said. Told reporters on Tuesday night.
Another part of the plan: The Spurs are promising that there will be about $1.4 billion of private development around the new arena. And a separate measure passed Tuesday could allow more rodeos to enter st anthony -Lawmakers are now able to dedicate nearly $200 million to that purpose.
“We’re really ready to do something special that’s going to help the Spurs, it’s going to help the rodeo, it’s going to help all areas of the community and it’s going to be right in the middle of our town,” Holt said. “This is something we deserve. Our fans deserve this. Our community deserves this. We’re going to believe in big things and execute them.”
The Spurs made a simple case to voters: The venue tax is paid primarily by visitors to the arena through things like their hotel and rental car bills, would not lead to any property tax increases for San Antonio residents, and can only be spent on things like arenas as required by state law.
Nevertheless, polling as recent as last month showed that victory would be difficult for Spurs to achieve. And City Chief Gina Ortiz Jones has said she wants more analysis about the plan, including the city’s contribution to the project.
“We’re going to work together to do something special,” Holt said.
There is no proposed timetable for construction. And Holt said the Spurs are “at the very beginning of the design phase.” The lease on the Frost Bank Center, the team’s current home, expires in 2032.
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