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Return of the Sonics — Seattle has arena deal

Someday — maybe soon — Capitol Hill’s Sonics jerseys won’t be so vintage. From the Seattle Times:

The Seattle City Council has a tentative agreement with investor Chris Hansen to build a $490 million state-of-the-art basketball and hockey arena in Sodo — and make road improvements with a cut of the tax revenue.

The deal, sources say, addresses objections by the Port of Seattle and manufacturing interests, who complained that traffic generated by an arena would choke already clogged Sodo streets, jeopardizing maritime industries and jobs.

“This may be the deal that gets us to where we need to be,” said Dave Gering, head of the Manufacturing Industrial Council, which represents 60 businesses in Sodo, including the Port of Seattle and BNSF Railway.

The agreement, expected to be announced Tuesday, significantly strengthens financial protections for taxpayers in the event of default or bankruptcy by the arena operators, and it requires a state environmental review and an assessment of alternate sites before final legal documents are signed.

More…

 


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wow
wow
11 years ago

The city of Seattle made a major decision with only 9 months of Seattle process? Took them longer than that just to ban plastic sacks. I didn’t think it was possible, but apparently miracles do happen.

Also, it sounds like the unions got their pound of flesh and are somewhat pacified.

Bring em back!

lifeguard
11 years ago

The city, county, and state are facing budget shortfalls and cutting social programs.

Now this:
” and make road improvements with a cut of the tax revenue”

People, stadiums are ALWAYS a scam on the public.

No escaping corruption is there…

Ernest Tee Bass
11 years ago

I can remember when (around 20 years ago) a stadium costing $100MM was top of the line and those usually had seats for 90,000 people. NBA and NHL stadiums probably should seat about 1/4th of the 90,000.

At half a billion dollars, you can rest assured that anyone and everyone involved with this is getting paid triple what they should be.

lifeguard
11 years ago

http://youtu.be/sS55zq6Hz8A?t=38s

I know people need jobs, but I don’t think this will create very many good or long lasting ones.

phhhht
11 years ago

What other city of our size is home to so many sports teams in such close range to each other?? Traffic is going to get worse, and we’re going to get stuck paying for it. Bring the Sonics back? The Sonics are already gone. Whatever they get to come here it won’t be the Sonics and it won’t be the same. Live in the olden days ya old timers and good luck filling those seats. How much was a ticket again?

Ernest Tee Bass
11 years ago

Thanks for the laugh and I don’t even have audio.