{"id":297775,"date":"2025-09-23T01:50:22","date_gmt":"2025-09-23T01:50:22","guid":{"rendered":"https:\/\/www.rawchili.com\/nba\/297775\/"},"modified":"2025-09-23T01:50:22","modified_gmt":"2025-09-23T01:50:22","slug":"analysis-if-project-marvel-is-as-good-a-deal-as-lubys-luann-platter-let-the-numbers-speak-for-themselves","status":"publish","type":"post","link":"https:\/\/www.rawchili.com\/nba\/297775\/","title":{"rendered":"Analysis: If Project Marvel is as good a deal as Luby’s Luann Platter, let the numbers speak for themselves"},"content":{"rendered":"

\"\"A \u201cVote Yes\u201d on Project Marvel sign, paid for by San Antonio Spurs LLC, sits in a yard north of downtown. Credit: Michael Karlis<\/p>\n

Project Marvel is as good a deal as a Luann Platter, the famed meat-and-two sides lunch plate Luby\u2019s sells to budget-minded diners. <\/p>\n

Or so claims a political mailer paid for by San Antonio Spurs LLC and delivered to San Antonio residents over the weekend. <\/p>\n

The same mailer also asserts that local taxpayers will outlay \u201cni un centavo\u201d for the new arena and that the Spurs are putting up $2.1 billion for the project.\u00a0<\/p>\n

The truth, of course, is un poco m\u00e1s complicado. <\/p>\n

Let\u2019s run it down. <\/p>\n

Part of the proposed $1.3 billion downtown arena for San Antonio would be paid for by property taxes within the Hemisfair Tax Increment Reinvestment Zone (TIRZ), which includes both small businesses and some residential properties.\u00a0So, looks like those entities will be digging into their pockets. <\/p>\n

\"\"A map shows the Hemisfair Tax Reinvestment Increment Zone in purple. Credit: City of San Antonio<\/p>\n

An additional $311 million in funding for the arena would come from a 2% hike in Bexar County\u2019s visitor tax, assuming voters approve the increase in November.<\/p>\n

Of course, if Bexar County residents need to rent a car or book a hotel room for the night, a portion of that cost will also go towards the new venue.\u00a0In other words: despite its name, it\u2019s not strictly hitting visitors. <\/p>\n

Nothing in life is free.\u00a0<\/p>\n

Beyond that, the claim that the Spurs are on the hook to pay up $2.1 billion for the project also involves some fanciful math.\u00a0<\/p>\n

Under the proposal currently on the table, Spurs Sports & Entertainment is offering to put up $500 million for the arena. However, another $1.4 billion in unspecified surrounding economic development<\/a> offered up by the franchisee isn\u2019t strictly coming from its coffers. <\/p>\n

Instead, the Spurs agreed to \u201cfacilitate\u201d that development, meaning a sizable portion would likely come from other businesses or entities. Experts also caution there\u2019s not much holding the team\u2019s ownership to that agreement \u2014\u00a0at least, how the current term sheet is written.<\/p>\n

If the Spurs\u2019 ownership want to rally the team\u2019s fans and pass a term sheet in November, those in charge of its outreach should consider being more transparent with the public about just what the Silver and Black are offering up and what the implications are for taxpayers.\u00a0<\/p>\n

At least with a Luann Platter, folks know exactly what they\u2019re getting for their hard-earned lunch money.\u00a0<\/p>\n

Subscribe to SA Current newsletters.<\/a><\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\"Cityscrapes:\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\n\t\t\t\t\tThe city\u2019s term sheet with the Spurs leaves many open question voters should be concerned about. \t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\"Battle\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\n\t\t\t\t\tThe Spurs\u2019 pro-Project Marvel rally featured sports star power, while COPS\/Metro promised steadfast resistance. \t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\"Spurs\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\n\t\t\t\t\tSpurs Jesus, whose real name is Cordero Maldonado, works for Centro San Antonio as a membership and sales coordinator.\t\t\t\t<\/p>\n

This article appears in Sep. 18-Oct. 1<\/a>.<\/p>\n

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