Executive congratulates King County Council for approving arena agreement

July 30, 2012

Summary

King County Executive Dow Constantine this afternoon thanked the Metropolitan King County Council for authorizing a memorandum of understanding with the city of Seattle and investor Chris Hansen for the proposed Sonics arena.

Story

King County Executive Dow Constantine this afternoon thanked the Metropolitan King County Council for authorizing a memorandum of understanding with the city of Seattle and investor Chris Hansen for the proposed Sonics arena:

“I thank members of the King County Council for their exhaustive review of this proposal, and adoption of the agreement in a diligent, prudent, and timely manner.

“This proposal is likely the best our region will ever get to bring back the Sonics and lure an NHL team. The unprecedented financial model used for this proposal provides strong protections for the public, minimizes financial risk, and is far different from those used for the region’s past stadiums.

“Our work at the County on this phase of the arena proposal is done for now, and we can turn our full attention to development of our annual budget and other important issues of public policy.”