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Why Sacramento Needs to Build the Arena

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by

Shawn Marden

on 24 December 2013

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Transcript of Why Sacramento Needs to Build the Arena

Why Sacramento Needs to Approve the ESC (Arena) Deal
design by Dóri Sirály for Prezi
The BUT(T)s Of Any Deal
Two sides of any agenda or proposal in business
Know your enemy if you can find them
Opposing groups trying to stop the arena deal having their own issues
Voters for a Fair Deal and Sacramento Taxpayer Opposed to Pork (STOP)
Voters for a Fair Deal launched campaign just recently because of agreement--union only labor
STOP has been shady in its attempts to have funding for signature for a petition for a ballot initiative
The Bottom Line
Simple INVEST, INVEST, INVEST
Old ESC vs. New ESC--Job Growth
35-year non-relocation agreement and two 5-year extensions
KINGS ARE HERE FOR-- A LONG TIME
Don't forget the other events that are as popular

Sources Used: KCRA, ESPN, Sacramento Bee, Forbes Magazine, Sac News and Review, Sports Illustrated, Sacramento Business Journal, and City of Sacramento web site and STOP website.
The location for the ESC is Capital Plaza (Downtown)
Start next summer 2014 with a completion date slated for Oct 2016
Projected cost for new arena $ 448 million
How will it be funded (the bottom line)
City of Sacramento $258 million
Selling off real estate/leasing parking operations, other revenue sources
Others sources, private and corporate combine $ 190 million (Kings owners majority)
Environmental issues (CEQA and SB 743) and other concerns as in traffic congestion
Helps in having political people in the right places
You said Sacramento will pay what for this deal
As advertised (No New Taxes)
Things that will benefit the city/region
Downtown will thrive with increased activity
Revitalization of a failing location
Mall sales 2000 $211(m) vs. 2013 $112(m)
Job growth related to initial construction and other related support in site development -- unemployment is 8.5% in Sac area
Increase in sports and entertainment and other activity (i.e., sports, NBA All Star (3 years), large scale conf, school functions
475,000 in office space, 300,000 in retail space, 250 hotel rooms and 600 housing units
Increase downtown/region public transit and public parking garage increase in revenue
Support local economy, bring pride back to Sacramento and surrounding region-- back during the playoff days of early 2000
The nitty-gritty of the ESC Deal
COMU 410

Dr. Moton

Shawn Marden

The Future Outlook For The Arena Deal
Demolition to start in 1-year of Capital Plaza
Negotiation ongoing to purchase Macy vacant lot
Streamlining CEQA--start in the spring of 2014
ESC built with a vision for state-of-the-art technology
Touch screen menu display at all seats for ordering
Speakers built into the seats and smart phone replay
Indoor/Outdoor access and rooftop viewing of events
Plans to have features not found in any other arena
18k seating capacity, additional 10k in an open venue for concerts or other events
Full transcript