Permission to actually build the center should come in pieces over the next six weeks. As planned for a four-block property south of Esther Short Park, the public portion of the facility would include a 6,500-seat arena for sports and community events and a 41,500-sf convention center. A $20-million, three-star 174-room hotel also would be developed on the property by Renaissance Resource Group, an Arizona-based private partner in the project that must sell the arena's naming rights for about $7 million to make the financing plan pencil out.

The bonds are being sold to the Seattle-based investment bank Piper Jaffray, which would market them to individual investors. The district would pay back bondholders over 25 years using a 2% hotel-motel tax and a sales tax credit approved in 1999 by the state legislature. The interest rate is expected to be about 5%.

Anchor tenants of the facility are planned to be five minor-league teams playing hockey, indoor football, soccer, basketball and tennis. The remaining available dates will be marketed to event promoters and community groups.