The Fort Worth City Council approved an election seeking funding for a multipurpose arena adjacent to the Will Rogers Memorial Center.
On Tuesday night, the council unanimously approved a resolution to call an election before August 1, 2018.
Next the council will work with the State Comptroller's Office to call an election to approve the arena project at the corner of Harley and Gendy Streets.
Private funding for nearly half of the project is anticipated in addition to both state and local incremental hotel occupancy taxes already in place.
The arena will not be taxpayer funded, the city says there will be no increases in city property tax, sales tax or hotel occupancy tax and there is no expected impact on the city's General Fund or Public Events Fund.
There will be three tax options to help pay for the arena. According to the city's website, "Additional funding for the new arena could come from taxes on users such as ticket, stall and parking taxes, with voter approval. A parking tax would not be assessed until the arena opens. The goal is to maintain rates that are in place at the time the arena opens and to generate additional funds from higher parking volumes."
The new facilities would compliment the current architectural style of the WRMC and could host concerts, family shows, sporting events, ceremonies, rodeos and equestrian shows.
