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Seattle arena plan moves ahead

Updated: May 16, 2012, 5:59 PM ET
Associated Press

SEATTLE -- Attempts to build a nearly $500 million arena that could bring the NBA back to Seattle took another step forward on Wednesday.

And if an NHL team turns out to not be part of the equation, the public investment will be less than originally believed.

The city, King County and private investor Chris Hansen announced a memorandum of understanding on Wednesday laying out the financial responsibilities for the proposed venue.

The proposal included two significant ...

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