The plan announced yesterday by Think Big Sacramento includes selling public land, taxing visitors, and having those who benefit directly from a new arena pay for their involvement either by rent, or revenue sharing. Private funding would come primarily from developers and the Kings owners. Think Big's Dan Barrett says the city council will have to weigh the benefits of large up-front payments versus long term revenue.
BARRETT: "In terms of rent, in terms of revenue sharing, and
that type of thing. These things are all interchangeable And
so if you want high rent, high payments over time, you want a
greater share of the revenue streams? Then, you're likely not
going to get a high investment up front from the Kings."
The one thing not on the table…a regional or broad-based
tax. Mayor Kevin Johnson hopes the City Council will
have funding finalized by January. The NBA has given Sacramento
until March to come up with an arena financing plan or it will
consider allowing the Kings to relocate to another city. Bob
Moffitt Capital Public Radio News.