July 17, 2004
Sac'to eyes crazy-expensive arena
Sacramento city planners are now saying that a new downtown arena for the Kings could, including the price of buying and demolishing existing buildings, cost a staggering $500 million to $750 million, which would be easily the most expensive basketball arena ever built. (Unless, of course, Brooklyn beats them to the punch.) Of that, arena boosters are hoping to get about $518 million in public money, with possible revenue sources including a tax surcharge on downtown restaurants, surcharges on city-owned parking spaces, surcharges on car rental fees, hiking the county hotel tax, adding a surcharge to sports tickets, and increasing the ticket price at the Sacramento Community Center Theatre. The Sacramento city council is expected to soon discuss putting an arena referendum on the ballot in November.
