Arena proposal to return to King County Council

September 18, 2012

By Staff

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.

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