Parking would raise up front money. This is a really good thing, becasue it saves on borrowing-interest costs on what ever amount has to be raised for the rest of the construction/permanent financing.
The downside is the loss of revenues to the city. Parking likely will bring in more money, once the arena is built. I hope that is taken into oonsideration in the appraisal report.
Personally, I think the can in property taxes and possible special assessment fees in the railyards will eventually bring a lot more revenue to the city. The city has a small footprint and it's made up mostly of old buildings. Thanks to Prop 13, many of those are highly restricted as a source of revenue to the city. This is why new development in the rail yards and redevelopment in other areas of the city is so importatn.
