Seattle OKs $490M Arena Developer's Amended Agreement

Law360, New York (September 25, 2012, 3:50 PM EDT) -- The Seattle City Council approved a revised memorandum of understanding on Monday to allow hedge fund investor Chris Hansen's proposed $490 million NBA arena to go forward for further approvals, after the developer agreed to several concessions.

In a 6-2 vote, the council approved a new agreement with several amendments that were tacked on in the last 10 days to expand public benefits, strengthen the legal and financial protections for the city and county, and add a personal guarantee from Hansen, according to city documents....
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