LIVE comments on Feb 14th city council meeting

While I can't attend for obvious reason, I would like to wish you all the best of luck and may we get the result that we all want! You guys are doing a great thing and its much appreciated from this fan on the other side of the world!
 
Okay, I read the agenda item report. All the council will vote on today, is approving the list of Qualified Bidders selected by the city staff. It will not commit the city to actually doing any bidding yet.

It will allow staff to proceed to a three-step process leading to an RFP (bid solicitation). City will have to spend more money. If approved, city staff will interview all the finalists, work with the qualified bidders to develop a term sheet that a new lease would be based on. Once the city has a term sheet, then they would ask for bids. Council would have to vote to approve the term sheet and the give the approval and go-ahead for the RFP.

So we are talking about a few months, minimum, before we actually get to sending out An RFP for actual bids.

However, the plan is for the city to send the NBA a term sheet showing all potential sources of financing and the expected amounts from those sources, by March 1st. Presumably this would use the developed estimates of the amount that will be received from the parking lease, along with how much is coming from other sources, including AEG and the team/league.

So it would indeed seem that the council vote on the term sheet the city will provide to the league will indeed be the critical vote. At that point they will pretty much proposing an amount of the financing will come from a parking lease, pretty much commiting them to going through with the parking RFP.

So tonight's vote is not going to be as big as I'd hoped, but it is still important, just to keep them moving on this source of financing, because they've pretty much accepting a parking lease as the most viable source for a significant amount of money upfront.

It seems projections are for the city council to vote on the city's term sheet to the NBA, to be February 28th. We could not be cutting it any closer and it's not as fully committed money as would be nice to have at this point. And the not yet committed funds are the biggest chunk of the financing.

I wish it could be a rock solid term sheet, with all sources of financing approved. At some point they have to have a solution to the teams' loan to the city and how they will back fill the parking revenue the city now gets, to keep the general funds whole. There two things are big deal killers, if no answer is found.
 
Does anybody happen to know the time limit for the street meter parking on H by City Hall? I know they stop enforcing at 6 but I want to know how early I can show up to the meeting without running afoul of parking regs. Is it a one hour limit, or is it longer?
 
Capt. Factorial said:
Does anybody happen to know the time limit for the street meter parking on H by City Hall? I know they stop enforcing at 6 but I want to know how early I can show up to the meeting without running afoul of parking regs. Is it a one hour limit, or is it longer?
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I think it's at least two hours most of the sapces around city hall, maybe 3 hours, although always look. There can always be some one hour ones for certain stretches. Each hour costs a quarter.
 
kennadog said:
It will allow staff to proceed to a three-step process leading to an RFP (bid solicitation). City will have to spend more money. If approved, city staff will interview all the finalists, work with the qualified bidders to develop a term sheet that a new lease would be based on. Once the city has a term sheet, then they would ask for bids. Council would have to vote to approve the term sheet and the give the approval and go-ahead for the RFP.
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This is what I brought up in another thread. If the city is going to be committed to leasing the parking then the NBA would need to be committed to staying. It would be very bad on both sides for the parking to be leased to then have the Arena part fall through. Bad for city because they have agreed to the lease. Bad for the NBA because cities would be reluctant to go through with new arenas if they think the NBA wont follow through with their side.
 
Section 101 said:
This is what I brought up in another thread. If the city is going to be committed to leasing the parking then the NBA would need to be committed to staying. It would be very bad on both sides for the parking to be leased to then have the Arena part fall through. Bad for city because they have agreed to the lease. Bad for the NBA because cities would be reluctant to go through with new arenas if they think the NBA wont follow through with their side.
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And bad for the company that leased the parking spaces because there would be no increase in parking habits.
 
JB_kings said:
And bad for the company that leased the parking spaces because there would be no increase in parking habits.
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Exactly. Which is why I'm feeling relatively confident that everything is going to fall into place here. Because if not everybody was serious about doing this (the NBA especially, who control whether the Kings stay or go), it wouldn't get this far.
 
kennadog said:
I think it's at least two hours most of the sapces around city hall, maybe 3 hours, although always look. There can always be some one hour ones for certain stretches. Each hour costs a quarter.
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Wow, I want to find those meters! Each quarter is worth either 10 or 15 minutes on the meter I've been using!
 
Section 101 said:
This is what I brought up in another thread. If the city is going to be committed to leasing the parking then the NBA would need to be committed to staying. It would be very bad on both sides for the parking to be leased to then have the Arena part fall through. Bad for city because they have agreed to the lease. Bad for the NBA because cities would be reluctant to go through with new arenas if they think the NBA wont follow through with their side.
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According to what I read, no RFP will go forward, unless the NBA accepts the term sheet.
 
Capt. Factorial said:
Exactly. Which is why I'm feeling relatively confident that everything is going to fall into place here. Because if not everybody was serious about doing this (the NBA especially, who control whether the Kings stay or go), it wouldn't get this far.
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This I pretty much agree with. There are some on the city council who are afraid to make a positive decision on leasing the parking. I think they are in the minority. I was sorry to find out that they were not going to vote on an actual RFP tonight, but I understand why now.

I knew the term sheet for the lease would have to be part of the RFP or there's nothing to bid on, becseu the bidders wouldn't know what they are paying for. Apprently they will go into negotiations with the qualified bidders and ask them for ideas, too, for the term sheet. The city will also hire an outside consultant to negotiate on behalf of the city and develop the final term sheet to be preented in the eventual RFP. The coucil has to vote on moving forward on the RFP. They may also have to vote on the term sheet first, but maybe not until it is part of the whole RFP deal.

Anyway, actually going out to bid is a ways off. Still, these things do develop momentum, becasue all partiers are spending more time and money of the process. Both the city and potential bidders. An approval of the list of qualified bidders selected, so far, woul still indicate a positive move forward.
 
This really seems doable and a good deal for everybody. Based upon my posts here, you know I don't mean that lightly or view this as glass half full. Get the troops out and get this done.
 
Larry David said:
This really seems doable and a good deal for everybody. Based upon my posts here, you know I don't mean that lightly or view this as glass half full. Get the troops out and get this done.
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That is what we are trying to do! If anyone can be there, please show up tonight! I know that KD, the Capt and I will all be there pushing this thing forward. We can use all the public support we can get! Contact Mike if you can make it!
 
Good news was recently reported by Ryan Lillis of the Bee.

We still cannot let our guard down. We still need as many bodies to show up, wear the white FANS shirt or at least something white to show our united support of the "Bigger Than Basketball" philosophy.

We planned this out months ago and decided on white because it symbolizes life and rebirth.

I am easy to spot as you can see from my picture. We will be inside the council chamber as early as possible so stop by, say hello, pick up a shirt and leave the rest to us to educate the council, citzens and media.

http://blogs.sacbee.com/city-beat/2012/02/sacramento-arena-vote-expected-to-pass-easily-tonight.html

Councilman Kevin McCarty told me he is in favor of moving forward on talks with the parking firms and sees tonight's vote as "procedural." He said the vote "could pass unanimously."
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Warhawk said:
That is what we are trying to do! If anyone can be there, please show up tonight! I know that KD, the Capt and I will all be there pushing this thing forward. We can use all the public support we can get! Contact Mike if you can make it!
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That's right, get out and make a stand for the arena!

Don't just sit back at home and say to yourself that somebody else will do it. If everybody said that, we'd all be at home watching the Kings game and letting the Naysayers look like they're the majority. They're not. But we NEED you out there to prove it. The more tepid the support we get, the more likely we lose our team.

Don't be the guy who watches the arena get voted down 4-5 (tonight, on 2/28, or even later down the road), watches the Kings leave town, and then thinks..."Gee, and there I was sitting on the couch instead of doing what I could do to fight for my team!"
 
Mike0476 said:
Good news was recently reported by Ryan Lillis of the Bee.

We still cannot let our guard down. We still need as many bodies to show up, wear the white FANS shirt or at least something white to show our united support of the "Bigger Than Basketball" philosophy.

We planned this out months ago and decided on white because it symbolizes life and rebirth.

I am easy to spot as you can see from my picture. We will be inside the council chamber as early as possible so stop by, say hello, pick up a shirt and leave the rest to us to educate the council, citzens and media.

http://blogs.sacbee.com/city-beat/2012/02/sacramento-arena-vote-expected-to-pass-easily-tonight.html
Click to expand...

So looks like last weeks vote will end up being bigger than this weeks.
 
According to the City's web site here are the following 10 teams that are recommended for the City’s most qualified list:

http://sacramento.granicus.com/AgendaViewer.php?view_id=21&event_id=663

The following is the list of the most qualified teams recommended for use during the
parking asset monetization process.

ACS-Xerox/Kohlberg Kravis Roberts & Co. LP/AMPCO Parking Systems

Capital City Parking Group (Cintra/SP Plus Municipal Services/Streeline
Inc.)

Gates Group Capital Partners/SP Plus Municipal Services/Parkeon/T2
Systems

Guggenheim Securities, LLC/CitiGroup/SP Plus Municipal Services

InterPark Holdings LLC/Duncan Solutions

LAZ Parking Realty Investors, LLC/ CIM Group Acquisitions

Morgan Stanley Infrastructure, Inc./ Central Parking Systems

Ontario (Canada) Teachers’ Pension Plan Board/Imperial Parking (U.S.)
LLC/Cadillac Fairview Corporation

Sacramento Forward, LLC (Antarctica Capital/California Municipal
Finance Authority/ CBRE Global Investors/ SP Plus Municipal
Services/Stone & Youngberg)

The Carlyle Group/ SP Plus Municipal Services [Concession]
 
The normal cast of characters who normally present at council meetings must feel a little insignificant compared to the sea of white shirts...
 
30 public comments in favor... 8 public comments opposed and 4 undetermined. Can't wait to see the anti-arena whackos!
 
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