Arena investor: 'I'm definitely in it for the long run'
SEATTLE -- On the eve of an important meeting Thursday afternoon that could help shape whether the city of Seattle will build a new arena, the arena's main investor says recent opposition to the plan won't deter him.
The mega-meeting will bring together all members of both the Seattle City Council and the King County Council.
Developer Chris Hansen wants to build a $490 million sports complex in SoDo, with $200 million in public investment to be paid back later.
Supporters call it one of the best private-public deals in sports, but opponents have said, among other things, they want the entire project financed privately.
Hansen won't attend the meeting, but said in an interview with KOMO News Thursday, said he was surprised at the number of hurdles the plan has had to jump through so far.
"I think I knew the political process in Seattle would involve quite a bit, probably not the extent that it has," he said. "I think we put together a great package that protects tax payers that was really a great deal compared to other arena proposals. But with anything in life there's going to be people that disagree with you. That's part of the process here in Seattle. People like to ask tough questions. I really don't have any issue with that."
Hansen says he thinks the biggest misconception about the proposal is that it doesn't protect taxpayers.
"It's difficult to read through the (memorandum of understanding) and take the time to understand the protections we put in place," he said. "But if you do take the time to do that and realize... we've gone a long way to ensure the taxpayer dollars invested will not be at risk."
But Hansen says he won't be discouraged by the opposition.
"I'm definitely in it for the long run," he said. "I deal with a lot of opposition and controversy and different points of view in my day job. It comes with the territory when you're asking the public to make a major investment. I'm respectful of our opposition -- they're entitled to their opinions. I would just ask that if people are going to disagree, they do their homework and it's factual and they're not making baseless, wild claims just to support their point of view."
He was also asked about the Dream Girls' strip club refusing to sell its building, which lies near where the arena would be built. The owner says Hansen made an offer for the property that "wasn't in the ballpark" of what they would be willing to sell for.
"We would love to negotiate with them over buying the property," Hansen said. "That's not part of the property that would be under the arena. That would be on our doorstep. As anyone can imagine, having an adult venue outside a sports arena would not be an ideal fan experience."
But overall, he says he wants to do something for his hometown.
"I'd love to have basketball back here and I'd love to have a new arena to bring the NHL to Seattle. I'm from here. It's a great opportunity for me to do something for my home town," he said. "One of the benefits of being successful is finding unique ways to share it. I'd love to be able to come back here come visit my family and go to Sonics games, go to NHL games and concerts in the new arena."
The meeting with the county and city councils is scheduled to begin at 5:30 p.m. at City Hall.
The mega-meeting will bring together all members of both the Seattle City Council and the King County Council.
Developer Chris Hansen wants to build a $490 million sports complex in SoDo, with $200 million in public investment to be paid back later.
Supporters call it one of the best private-public deals in sports, but opponents have said, among other things, they want the entire project financed privately.
Hansen won't attend the meeting, but said in an interview with KOMO News Thursday, said he was surprised at the number of hurdles the plan has had to jump through so far.
"I think I knew the political process in Seattle would involve quite a bit, probably not the extent that it has," he said. "I think we put together a great package that protects tax payers that was really a great deal compared to other arena proposals. But with anything in life there's going to be people that disagree with you. That's part of the process here in Seattle. People like to ask tough questions. I really don't have any issue with that."
Hansen says he thinks the biggest misconception about the proposal is that it doesn't protect taxpayers.
"It's difficult to read through the (memorandum of understanding) and take the time to understand the protections we put in place," he said. "But if you do take the time to do that and realize... we've gone a long way to ensure the taxpayer dollars invested will not be at risk."
But Hansen says he won't be discouraged by the opposition.
"I'm definitely in it for the long run," he said. "I deal with a lot of opposition and controversy and different points of view in my day job. It comes with the territory when you're asking the public to make a major investment. I'm respectful of our opposition -- they're entitled to their opinions. I would just ask that if people are going to disagree, they do their homework and it's factual and they're not making baseless, wild claims just to support their point of view."
He was also asked about the Dream Girls' strip club refusing to sell its building, which lies near where the arena would be built. The owner says Hansen made an offer for the property that "wasn't in the ballpark" of what they would be willing to sell for.
"We would love to negotiate with them over buying the property," Hansen said. "That's not part of the property that would be under the arena. That would be on our doorstep. As anyone can imagine, having an adult venue outside a sports arena would not be an ideal fan experience."
But overall, he says he wants to do something for his hometown.
"I'd love to have basketball back here and I'd love to have a new arena to bring the NHL to Seattle. I'm from here. It's a great opportunity for me to do something for my home town," he said. "One of the benefits of being successful is finding unique ways to share it. I'd love to be able to come back here come visit my family and go to Sonics games, go to NHL games and concerts in the new arena."
The meeting with the county and city councils is scheduled to begin at 5:30 p.m. at City Hall.
I'm not into sports like the 'hoops and the hockey fights'. I'd rather the stadium not be built but if other people want the stadium and like sports so much then thats okay with me. It will give people something to do and cheer about for one. Kids can be with their folks too. The guy building most of it is paying for most of it. When was the last time that happened? Probably when Mr. Carnegie was around. We need more Carnegies. Maybe we could use a few more homeless shelters too.Â
Please don't waste any public funds on this.
 @albion You might want to educate yourself on a topic before you post sir/madam. Every last public cent on this proposal is backed by private dollars on this. The only reason public funding of any amount is need is to accommodate federal insurance laws. Its been clearly made public that the private investors are 100% responsible for the bonds if there is a failure to generate revenue.
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How can this be a waste of money?
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All public dollars are fully backed, and the city gets a state of the art facility for pennies on the dollar.
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I repeat, the city will OWN the building and land.
 @Mesh We'll see. Kind of like how folks guarantee there will never be cost overruns. In any case, it's still a waste of money.
Dear City council.
Please don't screw this up.
200 million to be paid back later? Yeah, how many are delusional enough to think that either it will stay at the targeted investment of 200 mil or that we will ever see a cent of our tax investment back?
 @dg54321 Everyone that has bothered to do even five minutes of research on the MOU I'd say.
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Hard to see something fail when only the vastly ignorant oppose.
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Can't wait for NBA basketball back here in Seattle. It helps with the long rainy winters.
 @Magic 8 Ball LOL! No kidding! I've even heard Kevin Calabro say that people question why so much basketball talent comes from Seattle, and his response is, "Easy, 'cause it rains so much in Seattle. People go indoors and shoot hoops!" Laughed my tail off when I heard that, it must be true!
Shut up and get it done! Stop wasting time and money!
Well it's obviously better than both the Safeco and Qwest deals where the public had to pay for a good slice of it, especially with Qwest where everyone was kissing Paul Allen's butt. Considering how much of a good deal this is, I'm surprised the city is dragging their feet on this and almost literally implying they don't want it. Quit the BSing, look at the many benefits, especially money for the city as well as jobs, especially in this economy and just do it! This is a no-brainer!
 @Zoso I agree it is a no brainer but endless stalling on ANY project that might be useful to the local citizenry is simply the Seattle way.  Mr. Hansen will have to have the patience of Job to not get discouraged by all the naysayers.
 @Furd Or it'll end up in Bellevue, which would be the ultimate tragedy, but in that case we'll have the Council and the anti-McGinn element to blame. There is a significant element seemingly in stark opposition primarily because it could help McGinn's popularity/reelection chances, and they won't have that. Kind of like what the Republican-led HoR has been up to, filibustering anything and everything that might be considered progress potentially creditable to Obama by independent voters. I'm politically neutral but it's a sad state of affairs when any group puts their own political fortunes and power leverage position ahead of the best interests of the nation or jurisdiction as a whole. I don't think Americans in general should accept that, whether they agree with the political philosophy of the obstructionists or not.