SAN ANTONIO — The San Antonio Spurs could be getting a new home soon. Bexar County officials voted to move forward on a proposal to relocate the Spurs from the East Side Frost Bank Center to a new arena downtown on Tuesday, according to a report from Texas Public Radio.
The proposal is now headed to the state comptroller for a decision that would put the choice in the hands of voters. Officials are proposing a choice between a 2% occupancy tax and a 5% vehicle rental tax to fund the project for voters to choose from in November.
The occupancy and vehicle rental tax are typically referred to as “tourist taxes” and officials stress that local property taxpayers won’t pay for the new arena.
The City of San Antonio’s and Spurs’ financial contributions to the new arena are unknown at this time.
According to the TPR report, if voters approve the increase in taxes, the project would accrue as much as $450 million in tax revenue. The Freeman Coliseum would receive $194 million for renovations complex, and $80 million would go toward the Frost Bank Center.