I think the only thing the voters will accept is to have it funded mostly privately. If they try again with, say, "only" 60% public funding, it will fail by roughly the same margin it's going to fail today.
60-40 if in the railyards; 70-30 if in Natomas. Maloofs gotta pay for overruns for any "fancy stuff" they want.
But, again, the next chance to have a public vote for new taxes for this will be in June 2008, which coincides with a mayoral election. No politician will get within a mile of this in June 2008, and if things run perfectly, that means opening day would be 2012.
I just can't see why the Maloofs would wait that long. So unless AKT hits a home run with his Plan B, I think "Mostly Private Financing" roughly means "The Kings will leave." The Maloofs won't do it if it's mostly privately funded; the voters won't pass it if it's mostly publicly funded. It's a deadlocked situation.