A rendering provided by the city shows what Project Marvel could look like. Credit: Courtesy Image / City of San Antonio
City Hall discussions about the next steps in developing a downtown Spurs arena are heating up after voters last month approved public financing for the project.
During a City Council Governance Committee meeting on Thursday, District 5 Councilwoman Teri Castillo, a progressive, and District 10 Councilman Marc Whyte, a conservative, put forward a preliminary proposal to create an online dashboard to ensure accountability around the $1.3 billion project.
Specifically, the proposal directs the city manager to develop a publicly accessible Spurs Arena Project Dashboard that includes regular updates on the project, including construction milestones, all public contributions and progress reports on infrastructure improvements.
The site also would include quarterly reporting on how the Spurs’ $75 million Community Benefits Agreement (CBA) is being spent.
The dashboard would only track progress on the Spurs arena and not the broader Project Marvel proposal — a $4 billion sports and entertainment district at Hemisfair that’s expected to include a convention center expansion, Alamodome renovations, a new hotel and a new concert venue along with more retail and restaurants anchored by the NBA arena.
Although Bexar County voters approved $800 million in public financing for the new Spurs arena on Nov. 6, neither the city nor Bexar County has offered concrete details about funding the rest of Project Marvel.
Aspects of Whyte’s and Castillo’s proposal, called a Council Consideration Request, overlap with a separate proposal floated by District 1 Councilwoman Sukh Kaur on Thursday, which would set up a committee to seek public input on how to best spend the Spurs’ CBA.
As part of November’s vote, the Spurs threw in $75 million to be disbursed over the next three decades on downtown development. That CBA had no strings attached, meaning council will have to decide how to best spend the cash.
Kaur’s proposed committee would include representatives from San Antonio ISD, Bexar County Commissioners Court and other civic leaders.
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The news comes as Bexar County residents head to the polls to decide whether to approve a new Spurs arena.
Economist J.C. Bradbury warns that taxpayers will likely be on the hook for the pricy facility. It’s already happened in similar deals across the nation, he said.
Although voters narrowly approved a new Spurs arena, many were unaware they also could be asked to cough up another $500 million for the development.