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The Seattle City Council and investor Chris Hansen have reached a tentative agreement to build an arena in Seattle's SoDo neighborhood. (AP Photo)

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listen Listen: Mayor Mike McGinn on the revised arena deal
Mayor Mike McGinn joins "Brock and Salk" to discuss the tentative agreement that has been reached between the Seattle City Council and investor Chris Hansen to build a new basketball and hockey arena in SoDo.
The Seattle City Council and investor Chris Hansen have reached a tentative agreement to build an arena in Seattle's SoDo neighborhood.

"The new and improved agreement with Mr. Hansen makes this a sound step for Seattle," said Council President Sally J. Clark. "We set out to make sure the general fund is protected, freight mobility is helped and that we have help in charting the future of Key. We achieved these goals."

"We got a good deal," said Seattle Mayor Mike McGinn in an interview with 710 ESPN's Brock and Salk. "We got new jobs, we got a shot in the arm for that arena area if we can get this through all the way to the finish line and we're bringing the Sonics back and that just feels good."

The revised deal includes changes to satisfy both the Port of Seattle and manufacturers in South Seattle who objected to traffic that could clog streets and potentially jeopardize jobs. It also calls for new financial protections for taxpayers.

The original deal, spelled out in a Memorandum of Understanding between Hansen, the city and King County, called for $200 million in public financing to be repaid with taxes generated by arena activity and rent from the future teams.

Among the revisions, Hansen and his group have agreed to establish a $40 million transportation fund, to come from the publicly financed pool of money. The money would be used to fund road and transportation improvements in the area.

The deal also calls for Hansen to spend $7 million on Key Arena, aided by revenue from an NBA or NHL team that would use the facility while the SODO arena is being built. The money, which would also support planning for Key Arena's future, would also come out of the publicly financed portion.

The revised agreement will also require an expanded environmental review process which will include a requirement to explore alternative locations including Seattle Center before the deal is finalized.

Hansen will double the amount he puts in reserve to cover any shortages if the arena doesn't perform as planned. And the agreement will require his group to buy back the arena and land for $200 million in 30 years.

"We strongly believed that public money should be used for broader public purposes. The negotiated changes allow us to address long-standing transportation problems, preserve good jobs and protect Seattle's taxpayers," said Councilmember Tim Burgess, Chair of the Council's committee that analyzed the agreement. "The new agreement demonstrates how healthy skepticism paired with collaboration and good governance can lead to wonderful opportunities for the public."

A council committee will initially review the plan and vote on the proposal Thursday. Final council approval is expected later this month.

"Credit both the mayor and the City Council and Chris Hansen for getting the deal done," says 710 ESPN's Mike Salk in an interview with Seattle's Morning News.

Salk says the big hurdle now is landing an NBA franchise, a requirement before construction can begin. But the arena backer says he's confident Hansen has a deal in the works.

"My guess is he's got a deal not necessarily in place but there's some wink, wink, nudge, nudge, 'yeah I got a couple of ideas of people that are ready to sell'," Salk says.

In a statement, Hansen praised the council for reaching agreement. "As I think you can all appreciate, this was a very difficult process and we really did our best to find a solution that addressed the needs of the City and County as well as the concerns of project opponents, while still making this a workable transaction from our perspective," Hansen said.

The King County Council will have to approve any changes to the agreement. It previously approved the proposal in July after making several amendments to the original proposal.

"I think the city council did its job," said Mayor McGinn. "They listened to the concerns that were out there and they worked hard with Chris Hansen to try to address some of those concerns, but really this is about Chris Hansen most of all having the passion."

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Comments (38)


  • Add A Comment

  • Hakuzen wrote...
    Chris Hansen is my new hero.
    September 10, 2012 9:38 pm
    GO SONICS!!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • JMGilday wrote...
    well played
    September 10, 2012 10:01 pm
    big stakes, big reward, big cajones Great job...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Hectic wrote...
    I agree with Dori Monson
    September 10, 2012 11:40 pm
    This is one thing I don't mind spending a lot of tax dollars on, much better than art or something stupid like that.. This is something all tax payers will use.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dquay wrote...
    GO SONICS!!!!!
    September 11, 2012 1:13 am
    This is great news!!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    Sanity prevails.
    September 11, 2012 5:30 am
    And hectic, for the record, the "lot of tax dollars" will come directly from the users of the arena, unlike the typical wasteful boondoggles that EVERYONE pays for.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Hectic wrote...
    Sort of
    September 11, 2012 6:09 am
    The $200 million being spent is everyone's tax money; and arena revenue is supposed to pay it all back, but I'm not holding my breath. Seattle has a pretty sad history of profitable arenas and debt accumulation. (we are still paying for the Kingdome and the Key arena is sitting empty.) I'm all for supporting this project, but I'm not fooling myself as to who is paying for it; the taxpayers.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    Hectic, actually you are fooling yourself.
    September 11, 2012 6:56 am
    I'm happy you are for the project. Since the battle has been won, I'm going to stop wasting my energy explaining how zero dollars are coming out of the general fund, and there is NO risk for any taxpayer money other than those tax dollars that come directly from the arena.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dbara43 wrote...
    Get Real
    September 11, 2012 9:24 am
    We were still paying for the Kingdome because your corrupt Democrat politicians kept re-borrowing against it to get more money to flush down the public toilet. Literally. Like those $9 million public toilets in front of the King County Courthouse.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    waiting for the names of the names of the SCC that . . . .
    September 11, 2012 6:02 am
    signed the agreement. Remember in November.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dbara43 wrote...
    I will
    September 11, 2012 9:24 am
    I'll vote FOR them. Moron.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • SickofSeattleite wrote...
    how nice
    September 11, 2012 6:04 am
    more reckless spending during tough economic times. I guess the people that have enough money to buy tickets and pay for parking will get to enjoy using it while everyone else pays for it. I like how it doesn't even get a vote any more. They just do whatever they want...gotta love politicians SPEND SPEND SPEND
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Frogsplash wrote...
    While everyone else gets to pay for it....????
    September 11, 2012 6:37 am
    Explain this please.... How can people at this point even come up with stuff like this?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Integrator wrote...
    @SickOfSeattleite
    September 11, 2012 7:39 am
    how do you survive to adulthood being so ignorant of fact, its confounding to say the least. The Arena will be paid for by those attending the games, and the residual benefit to the neighborhood and community (jobs, increased spending in area bars and restaurants, parking, etc) will be there for the community to enjoy. Indeed, you pretty much have everything backwards. By the way, it's obvious that you've bought in to the confusing mantra of "smaller government, stop taxing and spending" but that's what government does, it taxes and spends for the good of the community. Get your head out of the hole and see the world for what it is. Oh, and Go Sonics!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dbara43 wrote...
    Reckless?
    September 11, 2012 9:25 am
    Reckless spending is when you flush it down the toilet, like 90% of public funding. This one actually builds something, adds jobs, and generates tax revenue.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • yummy sardine wrote...
    Thank you CH
    September 11, 2012 6:17 am
    I'm not one to post much. But in this case i think you deserve a shout out for providing me with chuckles, starting with your 1st post on this subject. I will truly miss reading the incredibly stupid things you and Newton came up with the past few months. Thank you good sir.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • BikeNazi wrote...
    For what team?
    September 11, 2012 6:20 am
    Is the NBA expanding? What team are you going to steal and be just like OKC? I remember when everyone thought the monorail was a great idea.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    BikeNazi,
    September 11, 2012 6:49 am
    If and when Hansen buys a team there will be no trickery or lying. It will be a team that can no longer survive in its existing city. Said team will be destined for another city. If not Seattle then somewhere else. In OKC's case, the Sonics were purchased based on the blatant lie that the new owners would try to keep the team in Seattle. Only naive fools believed it, but Bennett blatantly lied nevertheless. And what the heck does the monorail have to do with the price of tea in China? If that is a "clever" comment about building something that won't get used then it further exposes your ignorance, because a shovel will not hit dirt until a team is acquired.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Integrator wrote...
    @BikeNazi
    September 11, 2012 7:41 am
    probably one that is failing in it's current, too-small, market. Also, I don't know when you last rode the monorail, but it's packed full usually.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dbara43 wrote...
    NBA
    September 11, 2012 9:27 am
    The monorail WAS a good idea, killed by the SCC to build their $9 billion bus instead. But I don't see the NBA rushing to make a team available for Seattle. Ghetto league, ghetto game, run by a pimp. Bring on the NHL.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Forrest wrote...
    The Republican Mantra "KEEP GOVERNMENT OUT OF BUSINESS"
    September 11, 2012 6:46 am
    (unless it benefits the wealthy)
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Zagnut wrote...
    The Liberal Mantra "GROW GOVERNMENT, SPEND MONEY, SPEND MORE MONEY, AND THEN SPEND EVEN MORE MONEY"
    September 11, 2012 6:53 am
    (unless it is a smart project that makes all the sense in the world, is virtually risk free, and will ultimately turn a nice profit for the taxpayers)
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • dbara43 wrote...
    LOL...
    September 11, 2012 9:29 am
    You nailed it Zag...
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }

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Mayor Mike McGinn on the revised arena deal

Tuesday, Sep 11, 2012

Mayor Mike McGinn joins "Brock and Salk" to discuss the tentative agreement that has been reached between the Seattle City Council and investor Chris Hansen to build a new basketball and hockey arena in SoDo.
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