Looks like Cal Expo is a go!!

[Trueblood]

I don't think a deadline has been set. The economy might be a consideration or it might not... We have the NBA on our side, though, and I think that alone is worth something.

There are still a lot of questions that will need to be answered. This is just a first step, but it's such a departure from what's gone on in the past that I'm going to enjoy it and savor the moment and wait for what comes next. There are too many branches in the road at this point to determine which path will ultimately be the one taken...if that makes any sense.

Well said. I think it's everyone's best interest to savor the moment until the next phase comes up.

 

[Sac.1989]

great News. Congrats To All Area Fans, As Well As Former Residents Who Take Pride In Their Hometown Team.

I Really Do Look Forward To Visiting When This Is Complete.

Absolutely!

 

[hrdboild]

This is exactly what Sacramento needs. A lot of things need to be sorted out for this to work out, but this is a plan I'm 100% in favor of which hasn't been true with other arena plans. Revitalizing existing urban areas is the wave of the future.

 

[Kingster]

Hilarious

Get real. Where are you going find money to finance the project? Singapore? You can't find the financing and commercial developers are getting killed. Commercial development is now where residential was three years ago. So if you can't find the financing, which you can't, what commercial developer in their right minds is going to come up with $1.9 BILLION to develop a speculative project? Check back in five or six years for this discussion. For now, it is as dead as a door nail.

 

[RIP miyagi]

2036? that just sounds awful right now. ill probably be dead by then. No, i definitely will. 27 years, jeez.

 

[VF21]

2036 is the target date of completion for the entire project. The arena would be completed in the first phase, targeted for 2013...

People really should READ before they comment.

 

[Vlade4GM]

2036 is the target date of completion for the entire project. The arena would be completed in the first phase, targeted for 2013...

People really should READ before they comment.

Well, we're all going to be dead by 2012 anyways according to the Mayans so the 2013 date is too late as well

 

[RIP miyagi]

2036 is the target date of completion for the entire project. The arena would be completed in the first phase, targeted for 2013...

People really should READ before they comment.

I actually did read that in the midst of one of your blogs that you think are so important that they deserve the front page.

I was just saying that the date 2036 is a long time from now, but thanks for assuming that everybody is as ignorant as you.

 

[6th]

I actually did read that in the midst of one of your blogs that you think are so important that they deserve the front page.

I was just saying that the date 2036 is a long time from now, but thanks for assuming that everybody is as ignorant as you.

Oh, give me a break. VF21 has nothing to do with the front page. That would be our administrator. VF21 is just the person that was willing to write a blog for him when asked.

 

[Rug King]

Let's find a developer! hahaha Oh Gawd... that was a good one.

If we really want an arena, the only place it gets done is on the Natomas site with Maloof money, imo.

 

[TheFifthMookie]

I find it easier to be a fan of a poorly performing team when I know they're more likely to stick around after a few years. This is great news, and really allows me to enjoy the development of young players, without wondering where they'll be playing in 5 years.

 

[kennadog]

The Natomas site is a dead deal. The Maloofs cannot afford to build an arena without help. Heck, the are losing millions on the Kings this year alone and from reports, the Palms is losing money, too.

The money for much of this development is going to come from bond funding. The legislature created the Cal Expo Authority specifically so they could sell bonds. They will need a bank to do the loan, but the money won't be the bank's money. The Cal Expo Authority is then responsible for repaying the bind investors.

Part of this deal is to ask the legislators to give the Cal Expo Authority the ability to collect property use taxes from the development.

 

[Jerryaki]

great news. i'm glad that they're thinking bigger and using the arena as part of a larger revitalization, so i'm glad for all you sacramento..ans?

 

[kupman]

Part of this deal is to ask the legislators to give the Cal Expo Authority the ability to collect property use taxes from the development.

..and I only think that this makes sense if there are private businesses and private residences on the grounds?

 

[Bricklayer]

..and I only think that this makes sense if there are private businesses and private residences on the grounds?

Well that's the whole deal isn't it? Turn part of Cal Expo into shops/apartments, and the rest into a theme park type thing?

 

[Section 101]

The Natomas site is a dead deal. The Maloofs cannot afford to build an arena without help. Heck, the are losing millions on the Kings this year alone and from reports, the Palms is losing money, too.

The money for much of this development is going to come from bond funding. The legislature created the Cal Expo Authority specifically so they could sell bonds. They will need a bank to do the loan, but the money won't be the bank's money. The Cal Expo Authority is then responsible for repaying the bind investors.

Part of this deal is to ask the legislators to give the Cal Expo Authority the ability to collect property use taxes from the development.

I'm not sure the Palms is losing money. Supposedly the Palms has been hit less than the rest of the hotels due to its "amenaties" like playboy etc.

 

[kennadog]

I'm not sure the Palms is losing money. Supposedly the Palms has been hit less than the rest of the hotels due to its "amenaties" like playboy etc.

Yes, but the recent expansion and the extra debt couldn't have happened at a worse time.

 

[kennadog]

Well that's the whole deal isn't it? Turn part of Cal Expo into shops/apartments, and the rest into a theme park type thing?

Exactly. Most of the land will be developed with retail, office space, affordable rental housing and for sale condos.

 

[Bricklayer]

Exactly. Most of the land will be developed with retail, office space, affordable rental housing and for sale condos.

If I were them I would try to skew the whole thing young -- aim for college kids/people just out of college market, move the onsite retailers in that direction, and have those people right on top of the arena in almost a college town sort of way to potentially revive the college atmosphere inside the arena with a nightly walk up crowd.

 

[6th]

If I were them I would try to skew the whole thing young -- aim for college kids/people just out of college market, move the onsite retailers in that direction, and have those people right on top of the arena in almost a college town sort of way to potentially revive the college atmosphere inside the arena with a nightly walk up crowd.

That's a marvelous idea. And, the Cal Expo area is not that far from Sac State.