The Spurs are ramping up their campaign to drum up support for Proposition A and B on the November ballot, which would help fund part of the new arena.
As plans for a new Spurs arena move forward, some San Antonians are demanding investment in neighborhoods and residents, not just sports and entertainment. This comes as the Spurs ramp up their campaign to drum up support for Propositions A and B on the November ballot, which would help fund part of the new arena.
The proposed arena is part of a massive revitalization effort designed to transform the downtown area. The plan also includes a revamp for the Alamodome, the convention center, a land bridge, and more.At a Labor Day protest outside City Hall, a coalition of local labor unions, educators, and other advocates called for the Spurs to commit money, "in more than just sports and entertainment, in the working people who are the lifeblood of our city.”$500 million Spurs direct contribution toward the $1.3 billion arena cost$1.4 billion Spurs guarantee, alongside private developers, in private development projects to create jobs and enhance family entertainment opportunitiesJones detailed some of those concerns in an interview on News 4 Today last week. “There are some questions about, again, the strength of the term sheet, some aspects of that, and how can we ensure that we are going to get the development that is included there,” Mayor Jones said.to support ballot items regarding the project, Spurs Chairman and CEO Peter J. Holt said the organization intends to deliver on its commitments. “We’re not shying away from anything," Holt said. "We think the benefits are going to be just magnificent for the city and the community... That's why we really think that this public private partnership is the right thing for the next 30, 50, 100 years."“Those are the guarantees that we hadn't had in previous proposals before. Those are the guarantees from the Spurs' own investment that help us realize our own community vision for that part of the town,” Nirenberg said. When asked about the non-binding nature of the current agreement, Nirenberg said, “the purpose for the term sheet is to direct the final negotiations toward a contract. The contract will lay out the specific legal requirements that will be in accordance with the term sheet. If you don't get the term sheet, you don't really have a framework for the negotiation.”The next step is solidifying funding sources. Voters will soon decide on the existing county venue tax. Proposition A would use that money on the redevelopment of the Frost Bank Center, the Freeman Coliseum and surrounding grounds.The Spurs are actively campaigning for approval on both propositions. Until a legally binding agreement is finalized, though, the debate continues over whether the project will truly spark a downtown transformation — or simply deliver a new home court for the Spurs.
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