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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

OT: Sacramento ready to write first big check to build arena

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06-21-2013, 05:53 PM
  #1
LadyStanley
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OT: Sacramento ready to write first big check to build arena

http://www.sacbee.com/2013/06/20/551...-ok-first.html

Quote:
City development staff will ask the council at its meeting Tuesday night to free up $6.5 million in city cash, some of which will be used to hire a team of financial, design and legal consultants. The money is included within the $258 million subsidy the city has proposed contributing to the $448 million arena project at Downtown Plaza.

Of the funding, city staff has proposed using $1.78 million for consultants. The rest of the money would be used for the construction of the arena if a final financing and development plan is approved by the council following the completion of an environmental review next year.

The environmental review is under way. City officials are aiming to complete construction of the arena by 2016.
$5m from city selling downtown hotel; $1.5m from parking fund.

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06-21-2013, 08:06 PM
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Clowe Me
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I can't wait to see a shovel hit the ground. Downtown Sac will be awesome in a few years.

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06-21-2013, 09:31 PM
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jiggsawpuzzle35
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Love seeing those Lakers home games in Sacramento. So much purple and gold.

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06-22-2013, 01:01 AM
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Originally Posted by jiggsawpuzzle35 View Post
Love seeing those Lakers home games in Sacramento. So much purple and gold.
Not so much when the kings get good again... in 2002, you could hardly spot the Lakers fans.

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06-22-2013, 01:12 AM
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A shame to see them use public funds to build an arena for a professional sports teams instead of something useful.

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06-22-2013, 08:35 AM
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Quote:
Originally Posted by Hugh Mann View Post
A shame to see them use public funds to build an arena for a professional sports teams instead of something useful.
...public voted and approved them doing so...

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