Wednesday, May 25, 2011

Senate Bill 5834 passed the Washington State Legislature, now what?

First off, and straight up, I am very happy for 4Culture. They worked very hard to get this bill passed, thanks for asking for a little advice, I'm glad to give it, but it was all you (as was mentioned by some legislators on the House floor).
Well done.

King County is better because of your good work and we might all benefit.

To the sports fans that appear to be heavy readers of my blog, whatcha gonna do now?
The 2% Hotel/motel tax goes back to the control of King County after Qwest Field is paid off in 2021. 1/4 of the tax revenue is to be used for tourism infrastructure.
(vi) . . . On and after January 1, 2021, the revenues under this section must be used as follows:
(i) At least thirty-seven and one-half percent of the revenues under this section must be deposited in the special account under (e) of this subsection. [that's arts, heritage, 4Culture, etc]
(ii) At least thirty-seven and one-half percent of the revenues under this section must be used for nonprofit organizations or public housing authorities for affordable workforce housing within one-half of a mile of a transit station, as described under RCW 9.91.025 or for services for homeless youth. [just as it says, though I expect King County to use part of this to fund the program that gets teenage prostitutes off the streets]
(iii) The remainder must be used for capital or operating programs that promote tourism and attract tourists to the county. [well, that is 25% of $25 million dollars, and rises with inflation] SB 5834

So, will there be a battle over the 25% (iii) to be the public portion of an arena in Bellevue, Seattle, new or remodel, slow on the uptake Seattle, or overreaching Bellevue.

Sung Yang, you might not remember this, but, when we all had lunch last Fall I mentioned to you that I would support my friends in the arts community.
Dow Constantine might not have gotten what he wanted, but he got something to work with. I trust him to make the most of it.

Lastly, I have had the opportunity to give a few people words of encouragement in reference to these many bills, over the past couple years. All are meaning well, all hoping for anything, well, this is something.


Kieran in Dallas said...

I noticed that King5 reported a land deal in Bellevue that fell through that was tied to an NHL team.

I assume stuff like this happens and it probably is a minor setback and all involved are back at the table especially with the good news with 5834. I doubt whatever plan they had was the only one. Deals like this I doubt are all or nothing.

Anyways I'm excited and optimistic (as usual) and I'm pleased with all the recent talk about the NHL and the continued push to bring the Sonics back. I think ironically OKC's success may actually help those in charge and inspre those who have ideas (Hope) to step up and help.

I think the Hornets and Coyotes are obvious candidates, but don't sleep on the Grizzlies or Predators, Panthers as well.

Anonymous said...

Let me do my overly optimistic math here: 25.6/3=8.5 per annum on a 20 year bond is 170 million plus an additional 75 million in ticket taxes/user fees (RE: Key Arena redo) comes to approximately 245 million dollar in funding theorhetically speaking. Just being overly optimistic again, danngit.

Kieran in Dallas said...

Or 170 million towards partnering with investors on a new arena in Bellevue.

Anonymous said...

Bellevue even Renton works for me. Seattle is slow on the uptake.

bmac said...

Mike, whats your take on this NHL building in Bellevue thing, is this related to the past bellevue NBa arena that was floated a few months ago, are they related? thanks

Mr Baker said...

I would not put much stock in a land deal breaking. Commercial real estate is still trying to find its footing.

There is a scramble right now.

The news there is that somebody was holding land to build an arena for the NHL. Why, because they really do want to build an arena and get an NHL team.

We need the NBA to get their CBA fixed, we really do.

Kieran in Dallas said...

An arena in Bellevue with the NHL and NBA in mind is ideal. I'm sure they've considered it. I'd bet there is a group tied to the NBA and the Sonics and other with the NHL. I also bet both groups are in constant communication and probably are working together to get this done along with Dow and King County.

Baker, am I wrong to assume that?

Mr Baker said...

There are people competing to own teams, to host those businesses, so the idea that there is a one for one relationship isn't quite right.

From my view, competition is a good thing.

Kieran in Dallas said...

That's kind of what I meant. Groups wanting to own teams can work together to achieve the common goal of getting an arena built.

bmac said...

Baker,do you know if the failed land deal was the AutoRow property or 520 property? thanks

Mr Baker said...

I do not know which property was involved.

I expect you all know about the "Green and Gold Community Coalition", it is a 5013(c) non-profit

Blog Feeds