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Arena Feasibility Study Released



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(Sacramento, CA)
Thursday, May 26, 2011

There would be blue and purple seats inside and high-tech transparent panels out front.

One hundred forty-six of the 387 million dollars. would be in so-called "soft costs" including six percent in permitting fees.   ICON-Taylor says it's typically one percent in other cities.  Mayor Kevin Johnson said he was pleased the disparity had been identified.   

MAYOR KEVIN JOHNSON: "We will study that very deeply and to see what it actually should be compared to other cities around the country and try to get more in line with that."

In the presentation's management scenarios, the Kings owners, the Maloofs were listed as the main anchor, but not specifically as a potential operator.   Tim Romani with ICON says…
 
TIM ROMANI: "It provides an opportunity for more private investment, more private dollars to be brought to the project."
 
The mayor and Sprint-Center operator AEG have been in talks.
 
The city, ICON-Taylor, the Maloofs and a regional commission are all scheduled to spend the next 100 days identifying the best way to pay for the arena.
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