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Mayor Says City Should Beat the Deadline

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(Sacramento, CA)
Tuesday, February 7, 2012

According to Sacramento Mayor Kevin Johnson, the city is on track to meet the March 1st deadline for proving it can fund a new sports and entertainment complex in downtown.

The mayor says there are now constant negotiations between potential arena operator AEG, the National Basketball Association, and the Icon Taylor development group. The first day the Kings owners' the Maloofs could file to leave town is March 1st.  Johnson says he is confident the city will beat the deadline.

JOHNSON:  We can't be in a better situation than we are right now.  Now, does that mean the game's over on March 1st?  There's a lot of moving parts.  A lot of things need to happen.  But, there's no red flags or yellow flags right now."

Thirteen parking and private equity groups have indicated they are willing to pay at least $185 million to lease the city's parking operations.  Johnson says the city will put the project out for bid to four or five of those groups next Tuesday.   He plans to meet with NBA Commissioner David Stern during All Star Game festivities in a couple of weeks.

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