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Arena Project Backer: Economic Model is Sound



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(Sacramento, CA)
Wednesday, April 7, 2010
Developer Gerry Kamilos says he knows his plan has a lot of moving parts. But he told Capital Public Radio’s Insight Wednesday he’s confident the finances will work out.
 
Kamilos: “We’ve spent the last year developing an economic model. And this economic model, obviously, has been reviewed by the NBA. It’s also been reviewed in part by the city. But more importantly, it’s also been reviewed by Macquarie Capital.” 

Australia-based Macquarie is providing the financing for the project.
 
The proposal calls for moving the state fair from Cal Expo to the current Arco Arena site in Natomas; developing the valuable Cal Expo property; and using those profits to help finance an arena at the downtown Railyards.
 
Kamilos already has the backing of the Kings and the NBA. The Sacramento City Council and Cal Expo Board of Directors are each expected to vote on starting exclusive negotiations with the Kamilos group later this month.
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