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SPURS CALL QUARRY SITE FOR ARENA "BEST" FOR TEAM AND CITY
Published August 13, 1998
The Spurs unveiled plans Wednesday for a $150M arena in the "abandoned Longhorn Quarry that could be open for games by 2001," according to Poling & Anderson of the SAN ANTONIO EXPRESS-NEWS. Spurs Chair Peter Holt and Quarry developer Bitterblue "called the proposition the best for the Spurs and the city" during a meeting with the Express-News. But Holt said the team is not threatening to leave the city: "If this didn't work would we leave the city? That isn't our plan. ... The ownership is going to be patient." The Spurs would manage the arena which would be owned by the city, county and the North East School District. Construction could start as early as next summer. Under the Spurs/Bitterblue plans, "a Tax Increment Finance board would sell bonds to pay for constructing the arena." Bonds would be paid for from property taxes on new development in a reinvestment zone near the San Antonio airport. San Antonio Mayor Howard Peak supports the plan and adds, "We want to move forward rapidly on this." The proposal now goes to the city council (SAN ANTONIO EXPRESS-NEWS, 8/13). INSIDE THE HOME: Architectural designs by Ellerbe Beckett call for the arena to be split into 2,500 premium seats and 16,000 general seats. It would be divided into five levels (SAN ANTONIO EXPRESS-NEWS, 8/13).