New Sports Arena Plan
A new plan to finance a sports arena for the Sacramento Kings has emerged.
Friday, September 3, 2004
Local business and political figures laid out the new plan which would create a nonprofit organization to accept donations of land in the area north of North Natomas, sell it, then use the proceeds to pay for construction of an arena. Presenting the new idea was Sacramento County Sheriff Lou Blanas, Sacramento Metropolitan Chamber of Commerce president Matt Mahood and public relations firm owner David Townsend. Owners of ten thousand acres in Natomas, including some of the area's largest developers would be asked to donate twenty percent of their Natomas holdings. The Kings would lease the arena owned by the new nonprofit. Voters would have to approve.For the Business Journal, this is Mark Larson