13 firms show interest in Sacramento parking contract

[Mike0476]

Key notes:

13 companies responded including Revitalizing Sacramento LLC (owns 50 lots and garages in Sacramento and converted McClellan Air Force Base into a thriving business park) and Central Parking System (owns 22 lots in Sacramento),

$185 million is minimum price set by the city.

Names of other bidders will be released on Thursday.

http://www.sacbee.com/2012/01/31/4226779/13-firms-show-interest-in-sacramento.html

 

[Dime Dropper]

I'm not too clued in, but while this is obviously good news, how close are we to getting this done? The deadline is only a month away, which isn't a whole lot of time. How much is yet to be done before we have financing for the arena, as well as everything else that is needed?

 

[JB_kings]

The financing plan, not the funds by March. As we saw last year, that date is sort of soft and can slip until early April. The parking deal has a number or hurdles to clear. The next critical one is Feb. 14th. So far they have done the Request For Qualifications (RFQ). Which is inviting bidders into the bidding process. I believe the next step is to start the Request For Proposals (RFP) process. The vote in a few weeks should push into the RFP phase. If this doesn't get stopped along the way, the parking deal could be awarded by early summer and funds transferred after that.

Don't forget the City, NBA, Maloofs, ICON-Taylor and AEG are still negotiating their how much and who pays what piece right now as well.

Think of this as a mine field. Any wrong step along the way could be fatal. But as long as you keep moving forward, you are still alive.