Arena vote pushed back by request of the NBA

Arena vote pushed back by request of the NBA

Isaac Gonzalez -- 02/22/2012 03:05 PM —

The long-awaited vote on the proposed Downtown arena has been pushed back for a week after a request from the NBA, ranSACkedmedia has learned. The following emails are making the rounds between city staffers:

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Dear Council Members,

This is a follow-up to my phone calls to you in the last hour.

As you are aware, we are on the verge of finalizing a proposal to finance a new downtown entertainment and sports complex in time to meet the March 1 deadline. City staff was prepared to present the proposed financing plan at the February 28 Council Meeting.

The NBA has requested that we postpone your consideration of our proposal until March 6 to give all parties more time to reach agreement by March 1. This will also preserve time for Council and the public to review the proposed financing plan prior to the Council meeting. Under this revised schedule, we plan to make the staff report and proposed financing plan available on March 1.

Discussions between the developer, the proposed operator, AEG, the NBA, and the Kings are becoming more frequent and continue to be constructive. We will keep you abreast of events as we move forward. Please contact me if you have any questions.

We will be sending the attached release to the press shortly. In addition, a press conference is scheduled for 4:00 pm today in the media room on the first floor of City Hall. All Council Members are invited to participate.

John F. Shirey

City Manager

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Dear City Employee,

The NBA has requested that we postpone Council consideration of our plan until March 6 to give all parties more time to reach agreement by March 1. This will also preserve time for Council, employees, and the public to review the proposed financing plan prior to the Council meeting. The staff report and proposed financing plan would be made public on March 1, and you will receive an email notifying you that the staff report is available online.

This is a complicated project with many moving parts. I urge you to visit the Entertainment and Sports Complex website to learn more. In addition, attached is the joint statement released today by the City and the NBA.

Sincerely,

John F. Shirey

City Manager

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ranSACkedmedia has also obtained a full copy of the joint NBA/city press release. You can read it for yourself by clicking here. The mayor will be giving a press conference at 4:00, which you can watch live by visiting this link.