I understand the concern about public monies. The vast majority of the money for this project is coming from a private source, including guaranteeing any cost overruns. There will be public money involved. I won't deny it. That public money comes in the form of taxes on ticket sales (which won't exist without the arena) and property taxes on the arena (which obviously won't exist without the arena). They're trying to guarantee a large revenue stream, as well, because this building is not getting built unless an NHL and NBA team are both coming to Seattle.
What I don't understand is the statement about private arenas. I can only assume that people are completely glossing over the fact that the building itself will be owned by the city. This is a gift, and quite a generous one. When the NHL and NBA aren't using the arena it can be used for conventions, concerts, cultural events, and more. Why wouldn't we want this? It's a great way to attract more people to the city. More people in the city equals more people paying taxes on hotels, on meals, on things that will go to all those public programs that you're worried about taking money from.
I swear, if I could donate money directly to this project, I would. I certainly intend to fully support it by buying tickets as soon as possible. Please give me that chance.
