The City of San Jose and San Jose Arena Management announced Tuesday that they have arrived at terms for an agreement that is designed to strengthen the Diridon Station Area as a premier Downtown sports and entertainment center, corporate headquarters site, and transit hub.

The agreement, which is subject to San Jose City Council approval on June 15, proposes a privately funded parking facility, transportation improvements, and Traffic Parking Management Plans to facilitate the HP Pavilion, the proposed major league baseball ballpark, high-speed rail, and BART.

“San Jose Arena Management appreciates the City’s commitment to the continued success of HP Pavilion and welcomes the economic vitality new projects in the Diridon area such as baseball will create,” said Greg Jamison, CEO of San Jose Arena Management.

The Amended Agreement and related staff report were released June 1. The report is posted online here (see page 68 of the packet).

Mayor Chuck Reed said, “This agreement will lead to parking and transportation infrastructure that is crucial for the success of the Diridon Station Area and the long-term viability of the HP Pavilion.  It is in the best interests of San Jose to assure that the HP Pavilion, the future BART and high-speed rail lines, and the proposed major league ballpark are all a success.”