Plan for $386m arena lacks financing details

[Mike0476]

Highlights:

The ICON-Taylor team will discuss the possible design, amenities, location and cost to construct an arena in a 1 p.m. presentation at City Hall.

The team's feasibility analysis determined that both public and private financing will be required for the project. Without either, the project wouldn't be feasible, according to a staff report released Wednesday.

The analysis is expected to include cost comparisons based on whether a new arena is built on city land at the downtown railyards or on land in Natomas adjacent to or on the site of the Kings' current home, Power Balance Pavilion.

http://sacramentopress.com/headline/51180/Plan_for_386m_arena_lacks_financing_details

 

[Trueblood]

I really hope this thing goes downtown. One of my main arguments to the people who think this is just a building to save the Kings is that if it were only for the Kings, they'd just build it at Natomas where it would be cheaper and shovel ready. The fact that the mayor and a lot of others are so adamant about downtown is because this is about the city as a whole and reviving downtown as opposed to just being a playpen for the Kings.

 

[Livinthedream]

I really hope this thing goes downtown. One of my main arguments to the people who think this is just a building to save the Kings is that if it were only for the Kings, they'd just build it at Natomas where it would be cheaper and shovel ready. The fact that the mayor and a lot of others are so adamant about downtown is because this is about the city as a whole and reviving downtown as opposed to just being a playpen for the Kings.

ICON/Taylor knew exactly what they were signing up for when they offered to do this whole study free of charge to the city. They are going to give the mayor what he wants and they are going to find the money for it. Then they are going to sell it to the people of Sacramento. ICON is in this to make money and they would not be this deep in the process on their own dime if they didn't think there was a good chance of this getting done. KJ would not have pushed for ICON/Taylor if he thought they couldn't get it done they way he wanted it done. Stern reversed course because ICON/Taylor was convincing in their plan to get this thing accomplished. The $10 million from businesses alone wouldn't have been enough. What would be the point of it if there was no viable arena option. This will get done and it will be downtown.

 

[JB_kings]

No doubt it will be downtown. It's almost like the Maloofs did us a favor and got Anaheim and Samueli to set the standard for what is acceptable to them. A standard way below what they were getting offered in 1996!
They also opened the door for them to be tennants instead of arena operators. Now AEG can come in and run the place and they have the track record and industry leverage to make it a success. Not only would we get to keep our team, but we will be getting much better headline acts here for all to benefit.

 

[kennadog]

ICON/Taylor knew exactly what they were signing up for when they offered to do this whole study free of charge to the city. They are going to give the mayor what he wants and they are going to find the money for it. Then they are going to sell it to the people of Sacramento. ICON is in this to make money and they would not be this deep in the process on their own dime if they didn't think there was a good chance of this getting done. KJ would not have pushed for ICON/Taylor if he thought they couldn't get it done they way he wanted it done. Stern reversed course because ICON/Taylor was convincing in their plan to get this thing accomplished. The $10 million from businesses alone wouldn't have been enough. What would be the point of it if there was no viable arena option. This will get done and it will be downtown.

Don't downplay the importance of that $10 million. It bought us one more year to try and get a deal done on an arena. And it proved to Stern and the other owners that Sacramento was more viable financially than they thought.Thank goodness the area businesses stepped up. Fan devotion alone would not have accomplished that.