Memorandum of Understanding (MOU)

The City and OVG began negotiating the terms of the MOU on June 7, 2017. The City and OVG have committed to actively participate and work together collaboratively, in good faith and with due diligence, to carry out the process described in the MOU and to negotiate "Transaction Documents" (including a Development Agreement, a Lease Agreement, and a Seattle Center Integration Agreement) consistent with the terms, conditions, and limitations of the MOU. 

The full Memorandum of Understanding (MOU) is available here.

The MOU outlines the terms for OVG to move forward on its proposal to redevelop KeyArena into a world class sports and entertainment venue. Under the terms of the MOU, OVG would begin construction on a new arena in 2018, with a scheduled opening in 2020. The MOU must be reviewed by City Council and then approved, for the project to go forward. The goal is for City Council to vote on the MOU by December 4, 2017 so the project can stay on schedule for an October 2020 opening.

MOU Summary One-Pager

MOU Summary and Key Terms

Seattle Center MOU Package

Check back for documentation of all forthcoming agreements.