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Details Of Seattle Arena Proposal

A new Seattle Arena proposal has been released to the media. Tim Booth of the AP explains:

More details:

Seattle Major Mike McGinn stressed that it is still but a proposal. There is still work to be done, but the bottom line is that Christopher Hansen is the main investor and his group will be responsible for $290 million of the cost. The rest will be publicly funded but repaid with revenues from sporting events, concerts, etc in the building.

The building will be owned by the city and the tenants will pay rent. Next steps will be announced shortly.