KJ Press Conference - Live right now online
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I still think it’s no better than a 50/50 proposition … but I’m see some reasons to be hopeful.
With KJ sitting on federal funds for the intermodal on one side and state funds for a courthouse on another … he’s got a base to work with. He’s bringing in businesses and getting them on board. While the funds won’t be huge, he’s seeking regional support … and I wouldn’t be shocked to see West Sacramento try to help at least in a small way. People in railyards would help their waterfront expansion. Perhaps if they can chip in a few bucks, Folsom and Roseville might feel charitable … again, we’re talking only a few million here … but it matters a lot. With all of that, and some fees, the city will still has to reach for the wallet on a tight budget.
It all comes down to the report and the size of the bill. If they can somehow keep the city’s bill to less than 150 million, I think this has a punchers chance. There is just so much good will, teamwork, and most importantly leadership, I think its possible.
The two big ifs are the size of the bill from the report and getting even nominal regional support. That would give the Sacramento city counsel both a lot of cover and pressure to pay a bill they could justify.
Two huge ifs … but because this is being done the right way … I’m saying this one isn’t DOA … unlike Expo I, Expo II, and Q and R.
With KJ sitting on federal funds for the intermodal on one side and state funds for a courthouse on another … he’s got a base to work with. He’s bringing in businesses and getting them on board. While the funds won’t be huge, he’s seeking regional support … and I wouldn’t be shocked to see West Sacramento try to help at least in a small way. People in railyards would help their waterfront expansion. Perhaps if they can chip in a few bucks, Folsom and Roseville might feel charitable … again, we’re talking only a few million here … but it matters a lot. With all of that, and some fees, the city will still has to reach for the wallet on a tight budget.
It all comes down to the report and the size of the bill. If they can somehow keep the city’s bill to less than 150 million, I think this has a punchers chance. There is just so much good will, teamwork, and most importantly leadership, I think its possible.
The two big ifs are the size of the bill from the report and getting even nominal regional support. That would give the Sacramento city counsel both a lot of cover and pressure to pay a bill they could justify.
Two huge ifs … but because this is being done the right way … I’m saying this one isn’t DOA … unlike Expo I, Expo II, and Q and R.
This is pretty much how I feel. They bought the team because they missed the Rockets. They rode through the team through some high times, and then I think they just expected a new arena deal to just "happen" without putting forth the necessary due diligence. I'd be much more sympathetic with their frustration if I thought they tried in earnest to work with the city. It feels like they just gave up after the first sign of resistance. If KJ can garner up this kind of loot in short order, surely a couple of entrepreneurs could do the same if they put forth the effort.
I really think the Maloofs had the mindset of many owners (and the NBA in general), which is: "Don't care how you do it, city, but make it happen or we'll find someone else who will. Call me when you're done."
I think that intermodal in this context means intermodal stations (more then one mode of transport, i.e. train, bus, taxi etc.). Federal governament has 8 bil available for grants to cities/local authorities to develope/upgrade these. Obviously, this comes into play for railyards and with courthouse money would go towards building out infrastrcutre needed for an arena in that area.
If that's what Larry is getting at - that would be very, very clever, responsible and prudent from KJ and the city - courthouse money is there just get it built in railyards are; get fed money for intermodal station, include buses/grayhound and you will have build access roads/ramps/infrastructure. Plunk arena somwhere there and YOU WILL get private money to develop it and the rest (shopping, apartments, hotel etc.). That's how these things get done in a jiffy.
If that's what Larry is getting at - that would be very, very clever, responsible and prudent from KJ and the city - courthouse money is there just get it built in railyards are; get fed money for intermodal station, include buses/grayhound and you will have build access roads/ramps/infrastructure. Plunk arena somwhere there and YOU WILL get private money to develop it and the rest (shopping, apartments, hotel etc.). That's how these things get done in a jiffy.
I think $200 million would work. Cohn previously mentioned $175 million I think it was as the cities max a few years ago when the Maloofs walked away. Looking at the Orlando deal if we follow their model having $200 mil with another $300 mil coming from the management company running the arena over 30 years it works.
I guess he's having another press conference live right now.. http://www.news10.net/video/liveonline/default.aspx
Intermodal is what they are calling the train, bus, light rail hub behind the old train station. The city has federal and state dollars to help build that … the last two arena drawings have combined the arena with this hub … which means the city can use federal and state funds for infrastructure and part of the construction. Basically, we don’t have to pay for a lot of the roads and “south wall.” The new courthouse will now help address a lot of the infrastructure heading east. If you recall infrastructure was a huge problem with Q and R. This matters a lot.
By 150 million, I’m putting this as the money the city will have to scrounge up after you deduct the money that will come in from fees on drinks, taxis, ect. Those are pretty easy to pass, but won’t collect a mountain of money. The city does stuff like – we are spending this now and we’ll raise it / cut it out of the budget later. Because the total “public funding” number will be higher (fees collected plus the city reaching for its wallet), I think the city politically is going to have a cap on what they can spend out of pocket.
So that’s what I’m talking about.
I like that KJ is willing to grab a few dollars here and there no matter how small.
I also think that it helps that the Maloofs are basically out of the equation. It’s been hard for the city to move this forward because the Maloofs expectations regarding the quality of the arena and their amount of participation and profit split remain in negation, changing, or undefined. The new approach basically appears to be: (1) Sacramento builds an NBA quality arena; and (2) expect the NBA will require the Kings (whoever owns them) to stay if the rent is reasonable or deliver us another team. That has a lot risk, but KJ can move toward a defined budget and project. The prolonged arena debate without defined features, profit shares, or budget was a huge detriment.
By 150 million, I’m putting this as the money the city will have to scrounge up after you deduct the money that will come in from fees on drinks, taxis, ect. Those are pretty easy to pass, but won’t collect a mountain of money. The city does stuff like – we are spending this now and we’ll raise it / cut it out of the budget later. Because the total “public funding” number will be higher (fees collected plus the city reaching for its wallet), I think the city politically is going to have a cap on what they can spend out of pocket.
So that’s what I’m talking about.
I like that KJ is willing to grab a few dollars here and there no matter how small.
I also think that it helps that the Maloofs are basically out of the equation. It’s been hard for the city to move this forward because the Maloofs expectations regarding the quality of the arena and their amount of participation and profit split remain in negation, changing, or undefined. The new approach basically appears to be: (1) Sacramento builds an NBA quality arena; and (2) expect the NBA will require the Kings (whoever owns them) to stay if the rent is reasonable or deliver us another team. That has a lot risk, but KJ can move toward a defined budget and project. The prolonged arena debate without defined features, profit shares, or budget was a huge detriment.
Not really. Basically just got a bunch of politicians from Yolo, Loomis, Yuba City, Rancho, etc. to get up and say they are working together as an area, not just the city of Sac.
All said we need Arena/Kings to keep and make new jobs. Important to all types of business, used example of restaurants. Things we have all been saying and thinking for awhile, that this is more than just keeping our basketball team because we like basketball, it's about sustaining the economic viability of this region and growing it.
All said we need Arena/Kings to keep and make new jobs. Important to all types of business, used example of restaurants. Things we have all been saying and thinking for awhile, that this is more than just keeping our basketball team because we like basketball, it's about sustaining the economic viability of this region and growing it.
lol you guys don't have to try to convince me. my parents were stupid enough to buy a home there years ago. i had to endure almost 10 years of my childhood life in that cesspool. pimps beating up their prostitutes in front of house a few times a week. i'd call the police and a hour later, they'd drive by. they were long gone by then.
