Record No: CB 117769    Version: 1 Council Bill No: CB 117769
Type: Council Bill (CB) Status: Retired
Current Controlling Legislative Body City Clerk
On agenda:
Ordinance No:
Title: AN ORDINANCE relating to the Seattle Center Department; authorizing execution of an agreement with Horton Street, LLC to operate and manage KeyArena and utilize it for the playing of professional basketball games.
Sponsors: Jean Godden
Attachments: 1. Att 1 - Arena Use Agreement, 2. Att 1 Exh A - Depiction of Authorized Arena Use Areas, 3. Att 1 Exh B - Other Agreements, 4. Att 1 Exh C - City's Capital Maintenance and Repairs, 5. Att 1 Exh D - Depiction of City-Managed Portion of West Court Building, 6. Att 1 Exh E - Insurance Requirements
Supporting documents: 1. Summary and Fiscal Note
Related files: Res 31658
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to the Seattle Center Department; authorizing execution of an agreement with Horton Street, LLC to operate and manage KeyArena and utilize it for the playing of professional basketball games.
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WHEREAS, the City of Seattle owns KeyArena, a multi-purpose sports and entertainment facility located at Seattle Center; and

WHEREAS, Horton Street, LLC ("ArenaCo") is awaiting NBA approval of its request to acquire a National Basketball Association team franchise ("NBA Team") and to relocate the NBA Team to Seattle commencing with the 2013-14 season; and

WHEREAS, anticipating the NBA's approval of the relocation request, ArenaCo and the City wish to establish terms and conditions for the interim use of KeyArena for home games for the NBA Team; and

WHEREAS, ArenaCo intends to expend substantial sums for capital improvements to KeyArena so that it will comply with NBA requirements and provide a first-rate patron experience and has agreed that certain capital improvements costing at least $3 Million Dollars will remain at KeyArena at the conclusion of the agreement; and

WHEREAS, the Director of the Seattle Center has the general authority to enter into construction agreements for capital improvements of the sort contemplated in the Arena Use Agreement and to enter into other short-term agreements to provide for an orderly transition of KeyArena operations to ArenaCo; and

WHEREAS, the Parties to the Arena Use Agreement have not finalized the specific improvements that will be covered in the KeyArena construction agreement; and

WHEREAS, City employees will continue to perform the functions that have historically been performed by City employees at KeyArena; and

WHEREAS, the agreement between the City and ArenaCo will continue the exceptional venue and patron experience at KeyArena for sports, entertainment and NBA events and, potentially, ...

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