As the title says. ESPN.com is saying that the City of Glendale has accepted both proposals that the two groups put before them. So what does that mean? ESPN doesn't really say. In the article linked here they literally have one sentence and then continue with the whole history of what's happened before with no more detail on next steps or anything else. Basically we're going to have to wait for some network or reporter that cares more than ESPN about hockey to find out.
Here's what we can assume from information that everyone had earlier:
First the proposals will have to go in front of the City Council in an open meeting so that they can be voted upon. This will likely happen in the next couple of weeks. They could again approve both offers which would give the NHL leeway to choose either offer. So does that mean everything is finished and tied up in a little bow? No, but it does mean that whatever the two proposals were looking for, Glendale found a way to give them what they needed.
It's far from being finished, but it's a good step on the way to completing this thing and shutting the haters up.
If anyone else has insight as to what's next I'm all ears.