The Associated Press reports that no contract has been signed by the three-time Stanley Cup champions and the city, which would share the estimated $310million cost of the arena.
But city and team officials said approval of the redevelopment plan would allow design work and 24 months of construction to begin in time for the team to play its 2007-2008 season at the arena.
Mayor Sharpe James, the arena's strongest supporter, said the redevelopment plan, which also includes office, retail and park space, would be "the biggest economic and social engine in [the city's] history".
