The city of Sacramento will be asked to push forward with negotiations on a new entertainment and sports complex during Tuesday’s city council meeting. Assistant City Clerk Wendy Klock-Johnson announced the addition of the item in an email addressed Saturday afternoon.
“The Mayor’s Office informed the City Manager that discussions with the parties considering an offer to purchase the Sacramento Kings are proceeding well and that the City should be prepared to commence formal negotiations relating to the development of a new downtown entertainment and sports center,” Klock-Johnson said.
Agenda item No. 24 has been added to the meeting, which is bound to build some excitement in Sacramento. Fans have been flooding recent council meetings in hopes of gathering more information on Kevin Johnson‘s bid to keep the Kings from relocating to Seattle.
Supplementary Item: Principles, Professional Services Budget, Contract Amendment and Council Direction to Complete Due Diligence and Negotiate Preliminary Terms for the Potential Development of a Downtown Entertainment and Sports Center.
Recommendation: Pass a motion: 1) adopting principles for due diligence and the negotiation of preliminary terms for the potential development of a downtown entertainment and sports center; 2) authorizing the City Manager or his designee to complete due diligence and negotiate preliminary terms for the development of a downtown entertainment and sports center consistent with the adopted principles; and 3) authorize the City Manager or his designee to increase City agreement #2013-0108 with Barrett Sports Group by an amount not to exceed $90,000 and subject to approval as to form by the City Attorney. Pass a Resolution authorizing the City Manager to transfer $150,000 from the General Fund administrative contingency to the City Manager’s Office budget to fund professional and legal services for due diligence and negotiation of preliminary terms for the potential development of a downtown entertainment and sports center.
A staff report on the agenda item will be made available Monday in preparation of Tuesday’s meeting. Cowbell Kingdom will be in attendance to share any and all developments from the meeting.