Photo: Ronald Martinez / Getty Images Sport / Getty Images
The San Antonio Spurs hosted the “Win Together” campaign kickoff rally this past Saturday. The event marks the official launch of the campaign to win voter approval of Propositions A & B this November.
On November 4, Bexar County voters will decide on two propositions related to the use of tax revenue paid by visitors. Proposition A would approve $191.8 million for upgrades and expansions to county facilities on the East Side, including the Frost Bank Center, Freeman Coliseum and San Antonio Stock Show & Rodeo Grounds. Proposition B would authorize up to $311 million to help pay for a new downtown arena for the Spurs.
“What’s at stake is more than an arena – it’s our community’s next chapter,” said Peter J. Holt, Managing Partner of the San Antonio Spurs. “It’s about pride in who we are as a city and belief in what San Antonio can become. By harnessing tourist dollars and private investment, this plan will deliver a new downtown arena while expanding and upgrading the Frost Bank Center and Freeman Coliseum with no new taxes for local residents.”
The Spurs are contributing $500 million directly toward arena costs and will cover 100% of any cost overruns. Combined with $1.4 billion in private development and $75 million in community benefits, representing a significant investment in San Antonio’s future.