Latest on Project Marvel + San Antonio Spurs: SA Mayor on why there should be a pause on the project
What they did is they reviewed the summary findings of of the Spurs consultant. And so I think that is and I’ve shared that I think that’s inadequate. Um because what they did is say, “Hey, that number that looks about right, but as you and I both know, it’s not just about the number and it looking right. We’ve got to make sure the methodology also makes sense. We’ve got to be very clear about the assumptions as has been laid out in that Philadelphia um um economic report. They lay out their assumptions. They lay out their methodology. they lay out how it’s going to impact um you know the city’s fund etc. So th that’s the level of due diligence that our community also deserves. We’re continuing to work with the Spurs to get some more fidelity on how are they how are the guarantees going to be guaranteed you know ideally a cost for the uh for the for the for the arena. I think some were surprised certainly as I heard I think some were surprised that um you know a an arena there is no such thing as a an arena less than a billion dollars like I think folks were surprised to learn that number and so if in fact um the the bu the arena can only you know is only possible between 1.3 and 1.5 billion well then I mean this is simple math all of a sudden that range of what the city contributes is not 350 to 500. If it’s a 1.3 billion, you take away the 500 from the Spurs, you take away the 311 from the county, you’re at 489, right, minimum. So that’s um that’s we, you know, again, nailing down a cost for the uh for the arena is really important because it drives everything else. I think the other thing that was, I think, surprising for many as well is that um you know, they the the Spurs and the letter that they provided um if you all remember it was $500 million contribution. it was 500 million in guaranteed development and then the 60 million in the CBA. Um and then less than a week and a half later um this the the guaranteed uh the guarantees rather were no longer 500 million they were 900 million um and good but we need to understand you know if if and this is why I asked during that um during that session if you knew the number was going to be 1.4 four versus, you know, 1 billion. Why why not put that in the letter? And Bobby Betta said oversight on our part. $400 million is onetenth of our city’s budget. We don’t make $400 million oversightes. If an independent economic analysis corroborates the numbers that the that the Spurs have provided, their consultant has provided um and that CSL has provided and other funds then it corroborates it and we can I think have the confidence to move forward. However, if it’s different, right, then we should also understand that and we need to we we need those things laid out. What were your assumptions? What are your data sources? Right? Help us help us understand um how you got to that number because it’s not just the number. we really need to interrogate uh the assumptions that are being made there to ensure that we’re all on board. Again, we have the time to do this. There is no rush. Um so, we should take our time and do this smartly. The Spurs have indicated that they’re going to and they said actually that they may not need to leave the arena early. Um so, we have the time to do this. We have the time to do this, right? But let’s be very clear. Let’s be very clear, okay? Um uh Bobby Perez at the last session just said we may not need to leave the arena um u early which means we actually have now much more time to do this. So um we should not put impose on ourselves artificial timelines and we should do our due diligence.
San Antonio’s mayor’s request for a “strategic pause” on the $1.5 billion Project Marvel sparks heated debate.
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2 Comments
This is the typical idiot democrats voters fault
I'm a way I see where she is coming from because there were a lot of things promised to the Eastside but never happened, this project can be beneficial for everyone involved from the Spurs the city the districts the locals …. everyone. Also, one report was saying this but another report was saying that, so she was a numbers person in the military (🤔) so getting a good grasp on the numbers would be essential to the city budget. However, it doesn't sound like she is alienating anyone…just be professional with the numbers/impact. We love our Spurs and Judge Wolff exited by saying 'lets get er done to get the Spurs downtown' and the entire sports area is awesome and needs to happen. We can do this San Antonio, it's needed and am excited for this awesome chapter in our city, plus once the numbers are locked down the visitor tax (OKC is doing an Oprah with you get a Max and you get a Max by way of a visitors tax and no one even goes there like they do to San Antonio)… Let's get this project done right, and …. right now…. Chop chop numbers peeps. Spurs are marque so let's roll!