Leaders with the City of San Antonio, Bexar County and the San Antonio Spurs said they’re looking forward to what’s next after the passage of Propositions A & B.
District 7 Councilmember Marina Alderete Gavito hosted a news conference with San Antonio Mayor Gina Ortiz Jones, Bexar County Judge Peter Sakai and San Antonio Spurs Chairman Peter J. Holt on Wednesday afternoon outside City Hall.
>> Props A and B approved in Bexar County; Coliseum complex, downtown Spurs arena move forward
Holt said the project will take “a tremendous level of collaboration.”
“It’s going to be fun and I promise that we are going to deliver something special and mutually beneficial, something that this city deserves,” he said.
Watch the news conference in the video player above.
Sakai said the passage highlights the “value that both major stakeholders” bring to San Antonio, including jobs and philanthropic contributions.
“Last night was a celebration and recognition of what I believe are some of our greatest community assets: One, the San Antonio Rodeo, and two, the San Antonio Spurs,” Sakai said. “And referendum A and B passed as an affirmation and recognition of the value that both major stakeholders bring to this community.”
Roughly 55.91% of voters voted in favor of Proposition A, while roughly 52.14% of voters voted in favor of Proposition B.
Proposition A pertains to the preservation of the Frost Bank Center, the current home of the Spurs, and the Freeman Coliseum grounds next door.
It dedicates an estimated $192 million to $198 million toward turning the Frost Bank Center and Freeman Coliseum into year-round rodeo grounds.
It’ll use two funding sources, including a 5% car rental tax and an increased Hotel Occupancy Tax to 2%.
Meanwhile, Proposition B will fund the downtown arena by using the same two funding sources as Proposition A.
Since it passed, Bexar County will contribute up to $311 million or 25% of the cost of the new arena — whichever is lower.
The potential downtown arena has an estimated price tag of $1.3 billion.
The county already has an additional $48 million on hand from what the tax has already generated.
Jones said they have “a lot of work to do” in terms of planning.
"We need to be expansive. We need to be strategic. We need to be bold in our vision and think about what it is going to take to have the revitalized downtown that we all want and that we deserve," she said.
WATCH BELOW: Spurs Managing Partner Peter J. Holt speaks at an election night watch party
The Spurs’ lease at the Frost Bank Center lasts until 2032.
After the propositions were passed, Jones released the following statement, which was emailed by a spokeswoman.
“The people of San Antonio have voted to approve the county’s contribution toward the proposed Spurs arena, and I will work to ensure this generational investment helps to revitalize our downtown and strengthen our city. Great cities are built through collaboration, persistence, and a willingness to keep working toward bold visions. Our urban core represents an opportunity to remake a vital part of our city—one that can drive economic activity, create quality jobs, and add affordable housing stock that our community desperately needs. I remain committed to working with my Council colleagues, City Staff, the Spurs, and with community leaders to develop a plan that ushers in an era of progress and affordability downtown.”
Mayor Gina Ortiz Jones
WATCH: Downtown workers, residents near Hemisfair react to Prop B approval
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