NBA’s Spurs Seal $311 Million Subsidy for New Arena After Vote

Voters in the San Antonio area signed off on using public financing for a new downtown arena for the National Basketball Association’s Spurs team.

Voters in Bexar County approved Proposition B, permitting the county to raise the hotel-occupancy tax to as much as 2% to help finance the new venue. The proposal authorizes the Texas county to front as much as $311 million for the project.

The vote is a win for the NBA team, with voters increasingly wary of using public funding for arena and stadium projects amid concerns about whether teams and municipalities will be able to deliver ...