Overview
- Mayor Gina Ortiz Jones sent a July 31 memo asking the City Council to place the city’s $489 million arena contribution on the Nov. 3 ballot and has held public listening sessions to build support.
- A majority of council members have publicly opposed putting the city funding question to voters, leaving the mayor short of the votes she needs before the Aug. 17 deadline to order a ballot measure.
- Spurs CEO R.C. Buford issued an open letter saying a county vote last November settled the public question, defending the draft financing plan and reaffirming SS&E’s commitment to at least $500 million plus cost overruns and $75 million in lease-funded community benefits.
- The city’s $489 million would be financed by bonds repaid with project-linked revenues—development property taxes inside Hemisfair TIRZ, rent on city parcels, Spurs lease payments and state hotel taxes—which are legally restricted to tourism or venue uses and cannot be used for the general fund.
- Council voted 10-1 to create a 33-member Project Marvel advisory committee to gather public input and recommend how to spend the Spurs’ $75 million community benefits fund while city staff and the Spurs continue negotiating final agreements to finish later this year.