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).
