After learning that property taxes on apartment
complexes "would fund a good chunk" of the Spurs' new arena,
several public officials said Tuesday they were "misled" by
the team's efforts to get public financing for the project,
according to Christopher Anderson of the SAN ANTONIO
EXPRESS-NEWS. But team execs "denied misleading anyone" and
"blamed the city staff for the confusion." Although "no
one" said the latest issue "signals a death blow" for the
$156M arena project, it "clearly caught city and North East
School District officials by surprise." North East School
District Board President Bruce Bennett said the funding
mechanism "takes away money dedicated to educate children
and gives it to a for-profit business." Spurs reps and
developer Bitterblue Inc., who are asking the City Council
to create a tax-increment financing (TIF) reinvestment zone
to finance the arena, "have maintained residential property
would not be included in the TIF." Spurs Exec VP Leo Gomez:
"Apartment complexes are commercial property. We never told
anyone they weren't included" (S.A. EXPRESS-NEWS, 11/11).
