http://www.mercurynews.com/mld/mercurynews...ws/15085777.htm An agreement has been reached for a new arena in Sacramento. The new arena will be located in the downtown area in the long shut down and run down rail yards. The deal will go to the County board of supervisors for a vote on if the deal should be placed on the Nov. Ballot for voter approval. the 450-540 million dollar arena will be partially funded by a 1/4% sales tax. The Maloofs are paying 20 million up front, 30% of the total costs and an estimated 122 million in rent as well as paying off all loans that had been granted to the Kings organization. The 1/4% tax will be devided evenly between the arena and the county for general public use.
GREAT NEWS! No more laker threads in kings forums talking about where the kings have to move now i guess
it has to go to the county board of supervisors (thank you board for jumping into the fray) where it will have to get support from 4 of the 5 seats. I dont really see any problems there because the board has been trying to figure out how to get a deal done outside the city for a while now. Assuming that it passes that point, it goes on the ballot in the Nov. elections. thats where the real test is going to be... opinion polls are all over the place on that one... I have seen polls with it passing 80-20% and I have seen polls showing it failing by 60%... so who knows whats acually going to happen. But of all the deals that I have seen this has huge potential for the entire county and does not raise taxes by huge amounts.
