A proposal to divert existing tax revenues for a renovation of Seattle’s KeyArena — a move designed to bring the NBA back to the city — died at the end of the legislative session.
A proposal to divert existing tax revenues for a renovation of Seattle’s KeyArena — a move designed to bring the NBA back to the city — died at the end of the legislative session.
Part of an existing sales tax used to fund Safeco Field and Qwest Field would have been diverted to the city for use on a $300 million renovation of KeyArena, with Microsoft chairman Steve Ballmer and other investors picking up the rest of the tab. But the proposal was heavily criticized in legislative hearing as being welfare for rich investors and rich players.
In the end, no one stepped up and pointed out the importance of a healthy Seattle Center economy: the NBA was the major draw to the former World’s Fair area, and a KeyArena renovation was necessary before any NBA team owner would contemplate a franchise move.
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