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Shirey: Goal is March 21st To Unveil Arena Terms

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(Sacramento, CA)
Wednesday, March 13, 2013

The City of Sacramento hopes to have the details of an agreement with the developers of a downtown arena made public by March 21st.

City Manager John Shirey told the City Council at Tuesday night's meeting that the "term sheet" would have "as much detail if not more than last year's which was 18 pages -not your typical term sheet."  The March 21st date would give the Council and the public five days to review the details before a March 26th vote.  Shirey says the deadline is not set in stone, "Don't hold me to that because there's a lot of work to be done between now and then." 

The City's Media and Communications Manager, Amy Williams tells Capital Public Radio the statements made by National Basketball Commissioner David Stern last Friday have not affected the negotiations between the City, paid consultant Dan Barrett, the Downtown Plaza owners  JMA Ventures and Ron Burkle -who is investing an undisclosed amount of money in the construction of the arena. 

The developer and the arena site are different than the short-lived deal the City had with the Sacramento Kings' majority owners, the Maloofs at the Railyards in 2012.    

The City is planning at least one public meeting before the March 26th vote and is reaching out to the public in other ways.  Envisionsacramento.com -a new City-run website- has created a sports and entertainment complex page with a brief survey.  Four hundred people had taken the survey within the first two days of it being online.

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