Mayor Holt announces plan to build arena without tax increase, extends agreement with Thunder beyond 2050

After 14 months of public discussion and a collaborative dialogue between City leaders and the leadership of the Oklahoma City Thunder, Mayor David Holt announced a plan to construct a new downtown arena that will keep the Thunder in OKC for a generation and beyond 2050. The new arena will also secure Oklahoma City’s status as a destination for premier concerts and similar events.

The plan for the new arena and the agreement with the Thunder to remain in OKC is conditional on passage by the voters on December 12th of a temporary one-cent sales tax. The new temporary tax will commence after the conclusion of MAPS 4 and will not increase the city’s current sales tax rate.

You can read this entire article on VeloCityOKC.com.