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Raleigh Council Rejects Arena Plan

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RALEIGH — In a 4-4 vote, Raleigh's City Council Tuesdaynight rejected Wake County Commissioner's latest proposal for financing aproposed arena.

The council's vote leaves the Centennial Authority with no way to makeup a $48 million shortfall on the $120 million sports complex. Neitherhave the two bodies agreed on how any revenues would be shared.

The impasse throws negotiations on the sports complex into confusion.County Commission Chairman Stewart Adcock said he feels some councilmembers were determined to stop the arena.

Council members who voted no Tuesday night were Mayor Tom Fetzer, PaulCoble, Marc Scruggs and Kieran Shanahan.

Those in favor were Julie S. Graw, Stacy Miller, John Odom and BradThompson.

The vote means that the council missed its self-imposed deadline ofMarch 31 for completing a financing arrangement. The timetable has beenpushed back another month. The commissioners had already set theirdeadline for April 30.

Odom said he doesn't know where the arena concept will go from here."It may be dead."

Graw said Tuesday's vote may have been the "deal-buster."

Clyde Holt, the arena authority's attorney, said even if the arena iseventually approved, he worries that delays could result in higherconstruction costs.

"With a project of $100 million, inflation or a slightincrease in the inflation rate it can have a tremendous impact on the endresult," he toldThe News & Observer.

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