On March 6, 2012 the City of Sacramento made history. The City Council voted to accept the Downtown Arena funding plan. The plan calls for the City, The Maloof family (owners of the Kings), AEG and the NBA to provide a portion of the funding to build a downtown arena, located at the old rail yard adjacent to HWY 5 freeway, in the heart of downtown Sacramento. That means the Kings will stay in Sacramento.
For those of you who are not familiar with the history of the City of Sacramento, this was a momentous occasion. For years this has been a fight between Mayor Kevin Johnson and city officials. The old guard did not want Sacramento to change. They like the City as it is and do not want change. They also felt that the cost associated with the arena should be the sole responsibility of the owners of the Kings, the Maloof family since they will benefit the most from the arena.
The fact is this arena not only guarantees that the Kings are staying in Sacramento, it also brings AEG as the facility manager. That means Sacramento will have major concert tours, big ticket entertainment, the possibility to host the NBA All Star Game, National Political Conventions and on and on. This City has lacked those things and Sacramentans have always had to go to the Bay Area for first class entertainment. Not anymore. This is the Capitol of the greatest state in the United States of America and its about time it looked the part.
But most importantly, this means business opportunities for small business owners. This is a $391 million dollar project that will not be finished until 2015. It also means jobs during the planning and construction fazes of the project. Once the facility is completed there will be even more jobs available that will help the local economy. There will also be opportunities for local support companies such as restaurants, bars, night clubs, convenience store, etc. What an awesome opportunity for minority owned businesses.
Thank you Mayor Kevin Johnson for your vision for the future of Sacramento and thank you City council members for making the right decision.
Click the link to read the Sacramento Bee article.