City Council will be deciding Thursday on a possible avenue to fund the new Spurs arena, called a “Project Finance Zone” or PFZ.
SAN ANTONIO — Since the conversation of a new downtown Spurs arena started, people have been asking, how is the city going to fund it?
City Council will be deciding Thursday on a possible avenue to fund the new Spurs arena, called a “Project Finance Zone” or PFZ.
A Project Finance Zone is a three mile zone that allows the city to use some state hotel revenues for 30 years to fund projects.
It’s one of five options the city is considering to help fund the new arena .
In 2023, council created a PFZ to fund projects related to the Alamodome and Convention Center. Now they’re getting rid of that PFZ, and making a new one that would also include the proposed Spurs arena.
If they pass it, 2025’s revenue would be the base amount of money. After that, any revenue over that base amount would go towards the project.
The city estimates it would bring $2.5 billion over the next 30 years. For perspective, the new downtown Spurs arena is expected to cost somewhere between $1.2 and $1.5 billion.