Rendering courtesy Lionakis
This past Saturday, Sacramento city officials released a preliminary “term sheet” that describes how the city’s contriubtion to building a new downtown arena would be paid for, according to an article on the website of the Sacramento Business Journal.
According to the article, a report to the City Council says a public-private partnership “would be necessary” to make the arena happen. The report places the cost of the new arena at $447 million — investors would contribute $189 million and the city would have to put up $258 million. Much of the city’s portion — about $212.5 million — would reportedly come from off-street parking assets.
Click here to read the full article.
