The negative consultant report outlined by Tony Bizjak in today's Sacramento Bee certainly tosses a boulder at the plans for a three-way land swap that would result in moving Cal Expo to the current ARCO Arena site and building a new Kings arena downtown. (Read that story, else the rest of this post will read like Latin.)
But it was expected that something like this would happen eventually. It's a mad convoluted plan. It's complex in every way. And enough people are wary (rightfully in some cases, on impulse in others) that it was expected this would not be a 1-2-3-Done! procedure.
Thankfully, this particular developer -- Gerry Kamilos -- is more on the ball than any other person ever involved in Kings arena negotiations. He already submitted a modified plan that appears to allay the central complaint made by Cal Expo's consultant, that complaint being financial assurance.
Of course, to allay that concern, Kamilos' plan is wildly different than the original. In what way? A separate company would run the expo grounds year-round, handing it over to the state for the fair. The state would own the land, but would effectively have a permanent lease out to the company. I'm not sure that's what the fair has in mind.
We'll see how it goes. While the new developments add months (maybe a year) onto the timeline for the project, we could get a sense fairly quickly of where the Cal Expo management sits on the issue. Will they listen to their consultant and crush the whole thing? Will they listen to Kamilos' new plan? Only time will tell.