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No News is Good News/Bad News for Arena Proponents

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(Sacramento, CA)
Wednesday, March 20, 2013

The City of Sacramento says Thursday is the day to release details of a framework agreement -or "term sheet" with developers of an arena at the Downtown Plaza -if an agreement has been reached. 

City Manager John Shirey told the City Council Tuesday the details would be included in the agenda materials released on Thursday for the Tuesday, March 26 meeting, "We believe we'll still make that deadline. It'll take every minute between now and then to achieve that. But, we're committed to having that done. If we see that we don't have an agreement with that investor group, we'll let you know that."

At the close of business Wednesday, the City released this statement, "We have been in discussions all day with the Investors, and those discussions will continue. We anticipate that the Term Sheet will be made public tomorrow afternoon."

If there is an agreement, there will be three community events for the public to review details and weigh in. 

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