Bexar County leaders are considering a $1 billion downtown arena for the San Antonio Spurs, with a potential increase to the county's hotel occupancy tax as a funding source. The county's financial analysts estimate that a tax increase could generate around $448 million, which would also support upgrades to the existing Frost Bank Center. County leaders are seeking to establish a public-private partnership for the project and are exploring other funding options, including contributions from the city of San Antonio and private funders.
A proposed downtown arena for the San Antonio Spurs basketball team is expected to cost roughly $1 billion, funded in part by a potential increase to the county’s hotel occupancy tax, according to a discussion among Bexar County leaders on Tuesday., a newsletter rundown of the most important news, delivered every Monday and Thursday.
“This was my effort to be open and transparent, to start letting the public know, this is your tax money,” Bexar County Judge Peter Sakai said of the venue tax presentation. “… I’m not committed to a tax increase at this time.”landscape-changing entertainment district Bexar County Judge Peter Sakai speaks during a County Commissioner meeting at the Bexar County Courthouse Tuesday.permission to start negotiatingThe discussions are expected to shed light on other potential funding sources for the arena, such as how much the city of San Antonio might contribute, and how much might come from private funders.
SPURS ARENA HOTEL TAX FUNDING PUBLIC-PRIVATE PARTNERSHIP
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