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Sacramento City Council Agrees to help Kings acquire Macy's Land

The City Council voted 7-2 yesterday to help the Kings with their negotiations to acquire the last piece of property needed to build the arena.

AECOM rendering

As was reported last week, the Kings were getting ready to ask the city of Sacramento for help in negotiations with N.Y. based Island Capital, the owners of the Macy's Men's Store at the downtown plaza.  That piece of property is the last piece of land that the Kings group needs in order to have all the property available for the new arena.  The two sides had come close to a deal before, but it fell apart.

Last night the city council voted 7 to 2 in favor of helping the team in its negotiations.  Councilmen McCarty and Fong were the lone objectors.  Neither offered any substantial comment as to why, although Fong simply said that his vote "followed the votes I've voted in the past."

The city's role in the negotiations might be to use the threat of eminent domain or condemning the property in order to get Island Capital back to the table.  City Manager John Shirey told the council yesterday that the city's financial contribution to the arena would not increase by helping with these negotiations.

The Macy's Men's Store is currently in the process of being moved to the existing Macy's Women's store.