October 24, 2014
SEATTLE (AP) - King County Executive Dow Constantine and Seattle Mayor Mike McGinn have signed legislation on the funding plan for construction of an arena that could be used to lure the NBA back to Seattle.
The executives signed the deal on Tuesday after a negotiated memorandum of understanding between the city, county and investor Chris Hansen was approved by the city and county councils a day earlier.
The plan calls for a $490 million arena built in the area where Safeco Field and CenturyLink Field are located, with $200 million coming in public financing. The arena plan is still subject to environmental reviews.
After the signing, McGinn took off his jacket and played about five minutes of spirited one-on-one basketball with A.J. Brooks, who is the assistant athletic director at the Rainier Visit Boys and Girls Club.