Arena proposal to return to King County Council
September 18, 2012
King County leaders praised the proposed agreement between Seattle City Council members and the lead investor behind a proposal to build a $490 million sports-and-entertainment arena in Seattle.
Seattle leaders announced revisions to the proposed arena deal Sept. 11, and a council committee later endorsed the revised proposal. The package is expected to reach the full council for a decision Sept. 24.
Then, the measure returns to the King County Council for approval.
The updated agreement creates a $40 million transportation infrastructure fund to address long-standing transportation problems near the proposed arena, plus other stipulations.
The package does not include additional taxes for county residents.
In July, county leaders agreed to contribute up to $80 million for the arena, if investors can secure NBA and NHL franchises.