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SBD/June 7, 2012/Facilities
Seattle City Council Reviews Arena Proposal; Finds Taxpayers Would Share Cost
Published June 7, 2012
WEIGHING IN: The Municipal League of King County yesterday said that Hansen's arena proposal “may well be the best deal that city and county officials will ever receive for bringing professional basketball back to Seattle.” The League released a six-page analysis of Hansen’s proposal and said the deal is "not risk-free and may not be self-financing as claimed by proponents." In Seattle, Bob Young notes although the group said that Hansen's proposal was “complex, impressive and delightful to those who still mourn the loss of the Sonics, the League nevertheless raises several concerns.” Chief among them is whether the proposal will “protect existing tax revenues that go to the city and county general funds, which pay for basic services such as law enforcement and road maintenance” (SEATTLE TIMES, 6/7).
PROJECT PROPOSAL: In Seattle, Eric Pryne reported two of the Sodo neighborhood's “biggest developers are teaming up to build the second phase of Stadium Place, the ambitious high-rise project in CenturyLink Field's north parking lot, and plan to break ground in summer 2013.” The project would include “a 23-story hotel rising from a full-block base that would have 16,000 square feet of shops and restaurants, a 376-stall garage and a health club.” A 170,000-square-foot office tower “would be added later.” Daniels Real Estate President Kevin Daniels, one of the developers behind the proposal, as well as King County and the owners of the Seahawks and CenturyLink Field “worked out a deal last year to replace the 491 parking spaces displaced by Stadium Place with dedicated stalls in a Metro garage” (SEATTLE TIMES, 6/6).