The NBA, Sacramento Kings owner and several developers unveiled a complicated land-swap deal that would put a new arena downtown and move the California State Fair to the Arco Arena site.
The NBA, the owners of the Sacramento Kings and several developers laid out a radical commercial land swap that would end with the Kings in a new downtown arena and the California State Fair at the current Arco Arena site.
The plan, proposed by Sacramento Gerry Kamilos, has the Kings signing a 30-year, $300-million lease for a new downtown arena anchoring a new entertainment district. The State Fair, currently at the Cal Expo ground, would move to the Arco Arena site and possibly reuse the arena as an exposition hall.
The advantage of the plan: it's financially driven by developers and the Kings. The arena and surrounding development would be financed by Macquarie Capital of Australia and Pacific Coast Capital Partners of California. The only state funds involved would cover the move of the State Fair to the Arco Arena site.
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