In just eight weeks the City of Sacramento will unveil its findings on how to use parking revenue, what the NBA will pay in rent, and how the city will finance a new arena at the Railyards.
The December 13th date was solidified as part of an overall timeline that has been put together to map out key milestones the city will need to make in order to construct a new sports and entertainment complex by 2015. Sacramento Assistant City Manager John Dangberg will present the project schedule to council members Tuesday night.
Through the early part of December the city will engage in negotiations with the NBA and ICON/Taylor to solidify rent, investment and revenue figures. Anschutz Entertainment Group has yet to sign on formally, but one of the world’s most recognizable arena operators has been involved in negotiations and other key meetings in recent weeks.
As soon as the Kings and an operator (likely AEG) have agreed in principle, the council will then begin to finalize those terms and prepare for predevelopment mandates such as the California Environmental Quality Act and various entitlements.
A rough design for a Railyards arena has been unveiled by the Populous group, but the real work will not begin until March 2012. The plans will likely go through various changes to meet visual, technical and cost demands set by council and the public.
The project would go out for bidding in the spring of 2013. Once contracts are signed, construction will begin in the summer of that same year with completion expected in June of 2015 to be ready for the Kings season that fall.
To view the entire timeline visit the City of Sacramento website.
Rob McAllister 