The Sacramento City Council is scheduled to vote Tuesday night to establish a $6.5 million dollar budget to pay for services related to the proposed downtown sports and entertainment complex.
The council will be asked to approved expenditures totalling $1.755 million dollars:
$200,000 for ESC Facility and Finance Advisor Barrett Sports Group (BSG)
$250,000 for Sports Facility Design/Construction Advisor John Hilkene of Weston Sports and Entertainment. Weston would serve as the City’s technical consultant and project monitor.
$425,000 for parking consultant Walker Parking
$80,000 for an ESC Revenue Analysis. City staff will hire financial consultants to conduct an analysis of current as well as potential future revenues from the Downtown ESC
$550,000 for transaction attorneys and legal counsel
$200,000 for real estate services
$50,000 for communications and outreach.
The council must approve the use of parking funds and $5 million from the sale of the Sheraton Grand Hotel for these expenditures.
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