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Tuesday, May 16, 2006

Advance Copy: Seattle Center Report

Posted by on May 16 at 12:22 PM

I wanted to call Slog readers’ attention to Erica Barnett’s story—currently up on our homepage— about the report released today by the Mayor’s Task Force on Seattle Center. (Attentive Slog readers probably saw Erica’s story up on Slog last night.)

Bottom line: The report says the city’s general fund should pick up the Center’s annual $6.5 million debt payment on the Key Arena. The city has already been kicking in about $2.2 million a year on average since 2000 to help with the debt payment, which was supposed to be covered by the Sonics revenues.

My 2 Cents: If the Sonics stay in the picture, this deal is unacceptable. The public put up the money to revamp Key Arena w/ the expectation that the Sonics would make good on the loan. Freeing Seattle Center from the debt is, de facto, letting the Sonics off the hook for their commitment.