May 16 2012
My statement regarding agreement on proposed new sports arena:
Today, Councilmember Bruce Harrell, Chair of the Council’s Public Safety, Civil Rights and Technology Committee, released the following statement in response to the agreement reached by Chris Hansen, King County Executive Dow Constantine and Mayor Mike McGinn on a new multi-purpose sports arena. The agreement includes no new taxes to build a new arena.
“The potential $800 million dollar private investment in a new arena and NBA/NHL team is nationally unprecedented. We will assure unparalleled security provisions to protect taxpayers. The Sonics left four years ago and to speak bluntly, this could be our one shot, one opportunity to bring the Sonics back for a long time.”
“It is important for the public to understand that the proposed arena project will be self-financed through the use of revenue that would not exist without the project. Admissions tax, parking tax, sales tax, business & occupation tax, and property tax from arena operations will pay back the City bonds. The Council will be diligent, prudent and timely in reviewing this agreement. I understand the importance of the port and maritime industry and I look forward to working with them to protect their future and the $3 billion in revenue they bring to our region.”
“I applaud Mr. Hansen, the Executive and the Mayor for transmitting the proposed Memorandum of Understanding and the Interlocal agreement to the City and County Council and the ball is now in our court in moving this forward.”
“The team formerly known as the SuperSonics will play the Lakers tonight and I can only imagine the buzz and energy in this town.”