Sacramento County Commits Downtown Parking Revenue To Arena Project

The Sacramento County Board of Supervisors today voted to commit parking revenue from its downtown lots on event nights to the city if the plan to build a new entertainment and sports complex is consummated. That should add about $3.5 million a year to the city's revenue streams. The city is weighing whether to commit its $9 million in downtown parking revenue to fund the construction of the facility. If the plan is approved by the Sacramento City Council one week from today, the county offering will be a substantial backfill.

The vote passed 4-1. Phil Serna brought the measure late last week as the city entered a weekend of negotiations with the NBA and the Maloofs ... negotiations that resulted in an agreement on the framework of a deal Monday morning. With these agreements, we're nearing the end of 13 years of heartburn in trying to get a new building in Sacramento. That the new facility will anchor the Railyards, the country's largest infill project, is just another positive aspect.

Three cheers to the county for pitching in this valuable revenue stream.

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