Overview
- Spurs CEO R.C. Buford issued an open letter this week saying commitments are in place and a second city vote is unnecessary.
- Mayor Gina Ortiz Jones has asked the council to place the city’s $489 million share on the November ballot and must win five votes by Aug. 17 to do so.
- KSAT reporting shows a majority of council members publicly oppose a new vote, leaving the mayor short of the votes she needs to order an election.
- The draft financing splits roughly $1.3 billion as Spurs at least $500 million, the city up to $489 million and Bexar County $311 million, with repayment tied to lease payments, Hemisfair tax increment, developer rents and state hotel taxes.
- A key dispute is whether the hotel-tax revenue is legally restricted to tourism projects, and city staff continue negotiating a final term sheet aimed for completion by year-end while the mayor holds community listening sessions this week.