Councils likely to finalize Seattle sports arena deal on Oct. 15

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by CHRIS DANIELS / KING 5 News

Bio | Email | Follow: @ChrisDaniels5

KING5.com

Posted on October 8, 2012 at 5:38 PM

Updated Tuesday, Oct 9 at 5:13 PM

SEATTLE -– The Seattle arena project has a date for final votes of approval from the city and county councils -- Monday, October 15.

The King County Council's Budget Committee on Tuesday approved changes to the arena project legislation, setting up dual votes on Monday by both councils.

The King County Council will take up the arena legislation at 1:30 p.m. on Monday. The city council, which is scheduled to meet at 2 p.m., will take up the legislation as soon as word is passed that the county council has acted.

Majorities in both councils are expected to pass the measure.

Investor Chris Hansen wants to build an $490 million NBA/NHL Arena in Seattle’s SoDo neighborhood. His plan calls for using up to $200 million in public financing, with the debt repaid by arena revenues. The proposal had stalled in the summer before Hansen agreed to establish a transportation infrastructure fund and designate money for Key Arena.

Related documents:

Updated Memorandum of Understanding

Revised interlocal agreement between county and city

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