Regional Arena Financing Plan Unveiled

Think BIG Sacramento officials and area elected officials on Thursday unveiled a report that suggests a funding plan for the in downtown Sacramento.

Plans for the $387 million arena would call for a combination of private, public and arena user fees, according to the Nexus Report released at a Sacramento Press Club luncheon.

"There are no broad-based taxes in the plan," said Chris Lehane, Think BIG's executive director. "We need to Think big, be big and, going forward, act big.

A new arena will create about 4,100 jobs, keep the Kings in Sacramento and allow major concert acts to come to the region, officials said. The group will give a full report and update to the Sacramento City Council on Tuesday.

The Kings, who are going through the NBA's current lockout that threatens games in the upcoming season, released a statement on the report following the luncheon.

"The Kings organization views The Nexus Report as a very positive step toward the goal of a new entertainment and sports complex that will bring substantial economic benefits to the entire region and we hope will enable the team to continue playing in Sacramento," according to the released statement. "We were pleased with the report’s conclusion that funding for the project can be achieved using various revenue sources, none of which involve any broad-based tax."

At the Sacramento Press Club luncheon, Sacramento Mayor Kevin Johnson again said the arena issue is a regional one, as arena users will come from Sacramento and nearby communities.

"Our goal is to create regional jobs through the entertainment and sports complex," Johnson said, adding that the timeline for opening the new arena is the 2015-16 NBA season. "I believe with this region coming together, we can definitely get this done."

State Sen. Ted Gaines, R-Roseville, said the arena plan is in line with the current Sacramento International Airport expansion project and talks about hosting a future Winter Olympics in the Squaw Valley or Reno-Tahoe areas.

"This is exciting for the region, even for a guy from Roseville," Gaines said. "The Sacramento Kings are part of our (regional) family."

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The Nexus Report can be downloaded at thinkbigsacramento.com