Development of Rail Yard in Sacramento

Just a few more days to vote for what Sacramento would like to see in our Downtown area. Simplified, this is the area which currently is toxic where the Sacramento voters will vote for a chance to clean-up and develop or not.

From a development point of view, the City needs a co-op and partnership in order to change this area into one that could be a thriving Metropolitan City such that Sacramento can evolve with and provide for a sense of community.

The future is up to the tax payers voting on Measure Q and R on November 7th. Yes, there have been great debates on the “secrecy” of the negotiations. Aren’t negotiations typically quiet until agreed upon?

If released, this could have a negative impact on negotiations now and in the future, I would think. 90% of the agreed upon deal with the Maloof’s has already been made public with the remainder still being negotiated and that is the portion, I believe that has not been made public.

A Superior Court judge ordered the city to release the documents however; there is an emergency stay on behalf of the city of Sacramento where on Monday morning a contempt of court hearing will be held. Ok, whether the Maloofs stay or take the Kings away … the bigger picture seems to be whether we develop this eye sore that we currently have into an entertainment facility in downtown Sacramento or leave the rail yards as they are.

No private investor could afford the cost to ever build this out and it is an opportunity for Sacramento to consider for its future development and provide more than just a new arena for the Kings. Many more venues are at stake.

Yes, the taxpayers are being asked to take on an increase of 25 cents in sales tax which would bring our sales tax to 8%. None of us want to pay more tax…none of us like to pay taxes. Do you have a better plan to generate money for the toxic rail yards? What about a user-tax?

Do you think it is best to leave the toxic rail yards as is? Yes, we have flood concerns as well. Money could be spent for quit a few different projects that are needed in Sacramento. Looking at this from a real estate stand point, it seems that developing this area will spur job growth, expand business opportunities and will benefit long generations to come.

However, it would appear as though our city of Sacramento would not hold on to a majority interest in the new arena and much of the proceeds from the arena would go to the Maloofs. Perhaps, this is an area of negotiations that we have not been privy to that are still in the works. Have the city officials sold us out to the Maloofs?

Where do we stand as Sacramentians on this issue? For further information on the proposed new arena, a history of the previous owner of the Kings, Jim Thomas and the debt that the Maloofs inherited, please read what New York has to say about a new arena in Sacramento for the Kings.

Don’t forget to vote on November 7, 2006. My prediction is that it will be defeated … it’s a wait and see.