Hang Time Podcast All-Star Special With David Stern

[Mike0476]

http://hangtime.blogs.nba.com/2012/...tar-special-with-david-stern-and-arne-duncan/

Stern on Sacramento: He hopes Sacramento will approve the arena plan by the March 1 NBA deadline. And if not? “We’ll see.” He said AEG will make a substantial contribution to the new arena that will help offset the amount needed by the Maloof Family.

 

[JB_kings]

Well that should just fry some eggs over in the CAVE camp. Some of them swore up and down that AEG would bring nothing because the Kings were involved as a tenant and they would hog all the revenue.

It will be interesting to see the final numbers. I hope they didn't shoot their own feet by throwing around some loose numbers like AEG with 50 million and the NBA with 80-85 million. The naysayers will be all over that despite the fact those numbers were rumors.

Bottom line, have a secure source to backfill the parking revenue and this will get 5 votes for sure. I heard a new one today from KJ's press conference. County owned garages in downtown. Would make sense that they would need to bump up their rates to stay even with the city outsourced garages. Nothing really lost on the county end and they get to use that as kicker that the county is helping somewhat. Also heard that the hotel taxes and TOT might be used as revenue into the city general fund to backfill. If the TOT is included, 100% Sheedy is going against this... but would any other council member?

 

[Tetsujin]

Well that should just fry some eggs over in the CAVE camp. Some of them swore up and down that AEG would bring nothing because the Kings were involved as a tenant and they would hog all the revenue.

It will be interesting to see the final numbers. I hope they didn't shoot their own feet by throwing around some loose numbers like AEG with 50 million and the NBA with 80-85 million. The naysayers will be all over that despite the fact those numbers were rumors.

Bottom line, have a secure source to backfill the parking revenue and this will get 5 votes for sure. I heard a new one today from KJ's press conference. County owned garages in downtown. Would make sense that they would need to bump up their rates to stay even with the city outsourced garages. Nothing really lost on the county end and they get to use that as kicker that the county is helping somewhat. Also heard that the hotel taxes and TOT might be used as revenue into the city general fund to backfill. If the TOT is included, 100% Sheedy is going against this... but would any other council member?

The potential Olympic bid may help sway the other councilmembers to our side

 

[kennadog]

Well that should just fry some eggs over in the CAVE camp. Some of them swore up and down that AEG would bring nothing because the Kings were involved as a tenant and they would hog all the revenue.

It will be interesting to see the final numbers. I hope they didn't shoot their own feet by throwing around some loose numbers like AEG with 50 million and the NBA with 80-85 million. The naysayers will be all over that despite the fact those numbers were rumors.

Bottom line, have a secure source to backfill the parking revenue and this will get 5 votes for sure. I heard a new one today from KJ's press conference. County owned garages in downtown. Would make sense that they would need to bump up their rates to stay even with the city outsourced garages. Nothing really lost on the county end and they get to use that as kicker that the county is helping somewhat. Also heard that the hotel taxes and TOT might be used as revenue into the city general fund to backfill. If the TOT is included, 100% Sheedy is going against this... but would any other council member?

Another major hurdle to getting this through is the answer to how the current arena ownership will repay the current city loan, that requirements payments to the bond investors.

Downtown bisuness owners and hotel operators don't seem to obeject to increased hotel taxes and TOT, although the curennt hotel tax, expiring soon, is supposed to help finance a bond sale to renovate the Community Center Theater, so it would have to be raised even higher to help the arena effort, too. Council memebers have stated they do not want to jeopardize the Community Center renovation. (A city-owned asset/amenity, just like the new arena will be. )