Time is running out for putting the arena question up for a public vote this year. 

"We are working under a pretty fast approaching deadline."

Sacramento vice-mayor Rob Fong is among the local public officials meeting with the Kings’ owners and NBA executives. Negotiations on a private-public financing plan collapsed two-weeks ago but are set to resume in Las Vegas this afternoon.

Fong says the fact that negotiations have been on again, off again illustrates the complexity of the issue. 

"If this was easy it would have been done a long time ago. It’s a pretty complex thing to try and negotiate. I’m cautiously very optimistic that maybe we can get something done." 

A ballot initiative has to be okayed by county supervisors before the end August in order to qualify for the November ballot.