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AEG Clarifies Position, Says Bonding For KeyArena A "Suggestion"

AEG Facilities President Bob Newman on Thursday "clarified his company’s plans" to seek about $250M in public bonding from the city of Seattle in its KeyArena renovation proposal. Newman said that the bonding is "only a suggestion being made to the city." He added that his Seattle Partners group – a joint venture between AEG and Hudson Pacific Properties – is "open to going with 100 percent private funding" on its $520M renovation plan if turned down. But Newman added that the "proposed funding mechanism is 'risk free'’ and a 'win-win’' for his group and the city if it chooses to participate" (SEATTLETIMES.com, 4/13).

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