Sacramento officials pleased by interest in parking deal to help fund arena

[Mike0476]

Key parts of the article and notice what is in bold.

http://www.sacbee.com/2012/01/20/4201543/sacramento-officials-pleased-by.html

Twenty-five entities, including most of the country's largest parking companies, notified the city they are considering applying to manage city downtown parking facilities, in exchange for paying hundreds of millions of dollars upfront to help the city build an arena.

"It's a strong list," Assistant City Manager John Dangberg said Thursday. "We're pleased with the level of response."

Dangberg said the city is still negotiating with the NBA, the Kings and several other potential private partners to determine how much financing those groups can bring to the table to help build the arena, which would be owned by the city. That includes money from the Kings, who would be arena tenants, and possibly $50 million in cash from national arena operator AEG of Los Angeles for the right to run the Sacramento facility.

Dangberg said those negotiations include coming to an agreement on funds to backfill the city general fund when the city no longer receives annual parking garage revenues.

Dangberg said officials hope to sign a "term sheet" with the NBA, the Kings and private partners in February. With that in hand, officials say they can ask the City Council to take the next step of launching a formal contract bid process for a private operator to run city downtown parking services.

 

[Section 101]

Key parts of the article and notice what is in bold.

http://www.sacbee.com/2012/01/20/4201543/sacramento-officials-pleased-by.html

Twenty-five entities, including most of the country's largest parking companies, notified the city they are considering applying to manage city downtown parking facilities, in exchange for paying hundreds of millions of dollars upfront to help the city build an arena.

"It's a strong list," Assistant City Manager John Dangberg said Thursday. "We're pleased with the level of response."

Dangberg said the city is still negotiating with the NBA, the Kings and several other potential private partners to determine how much financing those groups can bring to the table to help build the arena, which would be owned by the city. That includes money from the Kings, who would be arena tenants, and possibly $50 million in cash from national arena operator AEG of Los Angeles for the right to run the Sacramento facility.

Dangberg said those negotiations include coming to an agreement on funds to backfill the city general fund when the city no longer receives annual parking garage revenues.

Dangberg said officials hope to sign a "term sheet" with the NBA, the Kings and private partners in February. With that in hand, officials say they can ask the City Council to take the next step of launching a formal contract bid process for a private operator to run city downtown parking services.

To Stern, just promise an all star game regardless of hotels. People can stay in the bay area if needed.

 

[kennadog]

To Stern, just promise an all star game regardless of hotels. People can stay in the bay area if needed.

Never happen, although we must have gotten closer with the completion of the Sheraton. It has to be high end rooms. That's still probably a problem in Sacramento. Maybe revitalization of K St and the railyards would make it more attractive too, along with the community center renovation.

 

[Section 101]

Never happen, although we must have gotten closer with the completion of the Sheraton. It has to be high end rooms. That's still probably a problem in Sacramento. Maybe revitalization of K St and the railyards would make it more attractive too, along with the community center renovation.

It can happen if Stern wishes it too !!