Cal Expo board votes early, says YES!!!!

[vikinginferno]

Moot point. They never intended to file for relocation. It was another in a very long string of "chicken little" rumors foisted on the public by our local media. And yes, the deadline has passed - although it hadn't at the time jdbraver wrote his comments...

I truly wish people wouldn't put words in the mouths of the Maloofs for a couple of reasons. 1. They're almost always wrong, and 2. Those things tend to get picked up, twisted around and then repeated somewhere as fact.

Yes, it is very annoying when people say that the Maloofs want to get away from Sacramento and relocate when they really want to stay. They have said it before and the only reason they would leave is if it was the only option.

 

[kennadog]

To those who think a developer is going to put up all the financing, that is not how development works. The Cal Expo authority is authorized to sell bonds to raise the money. A bank or banks will be the financiers. The developer may put some money up front, but those costs are usually repaid from the eventual loan for actual construction.

The developer generally gets his money from the profit margin he builds into the construction costs. It appears the developer may also get long-term profit from leasing space to eventual tenants of office, retail or residential space.