Memphis Arena Gets Green Light

Plans were approved yesterday (June 12) to build a $250 million arena, bringing the reality of the NBA's Vancouver Grizzlies to Memphis closer. Both the county commission and city council have agreed to pitch in $12 million each in financing. A portion of the county's car-rental and hotel-motel taxes were also approved for the project by the commission.

But there is opposition, and a citizen's group has about two weeks to gather more than 40,000 signatures needed for a referendum on the project.