Highlights: - plans will call for a "smaller but yet world-class venue" of less than 700,000 square feet that fits the region's needs, according to Mayor Kevin Johnson. Power Balance Pavilion, the Kings’ current home, is 442,000 square feet. - "I don't think 370 is accurate. I actually haven't seen the final number. I've been told that's not an accurate number," he (KJ) said. "I do think it will be under $400 million, which is important." - Johnson said he's been talking with everyone who may be interested in playing a role in the arena effort, including Tim Leiweke, president of AEG, which owns and operates the Staples Center in Los Angeles, the Sprint Center in Kansas City and many other sports facilities. - City officials will be asked to decide whether to contribute land the city owns – most likely a site at the downtown railyards. - Next week, the mayor will announce a regional commission being pulled together to spearhead a campaign to build the arena. - City officials hope to have arena financing and other issues solved by November or December, Johnson said.