San Antonio Council Debates $1.3B Spurs Arena Term Sheet Amid Calls for Independent Analysis

San Antonio City Council is at a critical juncture, deciding whether to approve a $1.3 billion funding deal for a new Spurs arena as part of the broader $4 billion Project Marvel downtown development or to delay the decision pending an independent economic analysis. Mayor Gina Ortiz Jones advocates for a strategic pause to commission a second economic impact study, citing concerns about potential conflicts of interest and insufficient detail in the existing analyses, including one by CSL International linked to Spurs ownership. The proposed funding involves a mix of visitor taxes, property taxes, bonds, and lease payments, contingent on voter approval of a venue tax in the upcoming November election. The public hearing drew significant attention, with diverse voices including community activists warning about financial control by elites, Spurs representatives, and local officials highlighting the arena's importance for retaining the team and fostering economic growth. Critics argue the current economic studies, including one conducted by a Spurs consultant, lack transparency and fail to address who will truly benefit from the development. City Manager Erik Walsh emphasizes that existing city funds will not be used and stresses the need for thorough due diligence amid the high stakes for San Antonio's economic and cultural future.