Sacramento city officials today unveiled two conceptual drawings of how a $391 million arena might look and where it might fit in the front portion of the downtown railyards.
The renderings show the arena perched on a tightly-packed site just north of the existing I Street train depot, with a small courtyard and a light rail station between the two. The arena's main entrance would face the back of the depot, near the intersection of 5th and H streets. The city's planned new transit center would sit on the arena's west flank.
City officials say they have not finalized designs for an arena, but will move quickly if they get City Council approval Tuesday on an arena financing "term sheet." That sheet represents a tentative agreement between the city, the Sacramento Kings, arena operator AEG, and arena developer ICON/Taylor. The city would put $255 million into the deal. The Kings would pay $73 million up front. AEG would pay $59 million. Taylor would build a $25 million adjacent garage with a combination of private funds and profits from a previous city/Taylor redevelopment project.
David Taylor of ICON/Taylor said his company would need to break ground by next spring or early summer to have an arena built for the 2015 NBA basketball season.
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