SAN ANTONIO — Bexar County Commissioners are taking the next step in the process to let voters decide whether to raise the county’s visitor tax to help fund a new Spurs arena downtown.
On Tuesday, Bexar County Commissioners approved the language of the proposition that will be sent to the comptroller’s office, for approval to put on November’s ballot.
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Bexar County Judge Peter Sakai emphasized the approval keeps the proposition moving forward but it is not a final decision.
“We need to get the vote as to whether or not we put a resolution to the comptroller that will give its approval in order. That gives us the ability to call the election,” said Judge Sakai.
Once the comptroller’s office approves, the proposition will come back to commissioners for a final vote on whether it will go to voters.
“I want to make sure it is clear. We have not committed to a deal. All we’re doing is taking things through a process so ultimately, we can pass a vote to the community,” said Judge Sakai.
Over the next couple decades, that tax rate is expected to collect just under $450 Million, most of which would be used to upgrade the rodeo grounds and Frost Bank Center itself.
The rest of that money, close to $150 Million, is what Bexar County would contribute to fund a new Spurs arena downtown.
As far as how much money the arena will cost and how much of that money will come from the Spurs, we still don’t have an answer.
Peter John Holt, Chairman of Spurs Sports & Entertainment, said the franchise hopes to find out within the next six months.
“We’re going to work together with our partners to figure out what our investment is and what I would say is we’re ready to invest,” said Holt.
Holt said the Spurs are committed to making sure the Frost Bank Center’s future will be bright, so we asked why the team doesn’t invest that money into the existing arena they’re currently playing at.
“Why wouldn’t you put that money, invest it into the surrounding neighborhoods to begin with? Yeah, what we think is the Frost Bank Center has been an amazing home for us. The next phase of that, I think the rodeo has Ana amazing vision for that and we want to help with that. We want to help with whatever next phase of the journey on the east side.” 0:16
Holt said the money figures for the new Spurs arena and the timeline can change.
The Spurs current lease with the Frost Bank Center ends in 2032 and there is a penalty of it’s broken early.