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.
But for some community members, it’s not just about basketball.
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.”
Spurs Sports & Entertainment has pledged more than $2 billion overall for the project:
$500 million Spurs direct contribution toward the $1.3 billion arena costSpurs cover 100% of any and all cost overruns$1.4 billion Spurs guarantee, alongside private developers, in private development projects to create jobs and enhance family entertainment opportunities$75 million Spurs Community Benefits Agreement over the 30-year lease term
The organization also reiterated that “the financing structure doesn’t rely on property or sales taxes.”
City Council Concerns
Despite some hesitation, City Council approved a term sheet for the project in August.
Mayor Gina Ortiz Jones and several council members had asked for more time to review the details before the vote.
Jones 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.
The term sheet isn’t legally binding, but Spurs leadership says they’re ready to commit.
At the Spurs’ “Win Together” campaign kickoff event 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.”
Former Mayor Ron Nirenberg said legal guarantees are on the way.
“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.”
What Comes Next
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.Proposition B would use that tax for the new Spurs arena.
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.