On Monday Sacramento Taxpayers Opposed to Pork (STOP) begin’s its initiative signature drive with the goal of collecting 33,ooo votes to force a public vote on the NBA arena subsidy. The City has tentatively committed a public investment of 258 million dollars towards a new Arena in downtown plaza. The city leaders have designed a plan where bulk of the money would come from parking. Revenue from parking( 9 million dollars) goes into the city’s general fund
Cut and Paste
The 2013 term sheet is very similar to the 2012 term sheet as parking is the centerpiece of both agreements. On March 23, city leaders completed the term sheet. On March 26, the mayor and 6 councilpersons approved the complex 18 page document. Before the public could view and comment on the multi million dollar project.
The City Say’s the Arena…………
Will generate thousands of jobs.
True, the construction of the Arena will generates a few thousand jobs , the surrounding area will benefit from the employees. After the project is complete, these jobs will go away. Recently , the Kings organization hired people in the phone center. According to Fox 40 these jobs paid $8.00 an hour. Less than In N Out burgers.
Will generate business for downtown Plaza.
???? If constructed the NBA arena would be the first arena built in an existing shopping center. Macy’s says they are committed to staying in the Plaza. The mall currently has 3700 parking spaces owned by the city. The arena will eliminate 1000 of those spaces. The term agreement says another 1000 must be held for premium ticket holders during Kings games. Shoppers will compete for parking spaces during events at the arena.
The Downtown Arena will a boom for business
Restaurants and other eateries will see an increase when during events at the arena .The majority of arena patrons will dine and shop in the arena.
Why voters should decide?
Sacramento has a very fragile budget. In April, John Shirey, Sacramento’ City Manager said the city will have deficits as far as the eye can see. Sacramento has nearly $2 billion in unfunded liabilities, which include pension contributions and retiree medical benefits, most of which have no reliable or stable funding source, as well as excessive bond and lease payments on public projects. No one is using the B word ,but its a debt that could force the city into Bankruptcy.
The Arena is a 35 year multi million dollar commitment for the city. The City of Sacramento plans to Lease the parking garages is extremely fragile and could have a negative effect downtown at it will be necessary to increase parking fees to be profitable. The projected revenue is overly optimistic.
This month the city will add a 5% surcharge for events at Sleep Train. Some of the leaders believe this Surcharge will be significant. enough to offset shortfalls from the parking revenue.
If there is a shortfall, if the parking plans or surcharge fails to meet expectations, the money will come from the already fragile general fund. Resulting in further cuts to city staff Police, Fire and essential service.
While Sacramento love their Kings. Less than 4% of Sacramentians attend King games.
Sacramento Taxpayers Opposed to Pork (STOP)
Was formed last year. The group opposed a public subsidy to build an arena in the Sacramento. rail yards.
Misconception
There are some in the city who believe STOP member are against the Sacramento Kings. This couldn’t be further from the truth. STOP is against public subsidies to billionaire private enterprises. A belief shared in many communities.
Basic CityFella
I am a major Kings fan, (5-10 games a year) I’m not an economist. I do understand basic math. If I am struggling with my finances, facing a major balloon payment , It wouldn’t make sense to add a long term debt.
Voters in Oklahoma City, San Antonio, Dallas ,Houston and other cities across the country have approved Arenas, Stadiums why not Sacramento?
Take Control ,join Stop, sign the petition, volunteer, this is your city! There is a Facebook link to Stop to the right of the page ———->
Link to STOP
http://stoparenasubsidy.com/stoparenasubsidy.com/main.html
Related News
Sacramento is currently the seventh most dangerous city in the state, according to the FBI Sacramento saw a 20 percent increase in violent crime last year. ( Sacramento has laid off more than 300 policeman due to the city deficit ) The crime rate is higher than San Francisco, San Jose, Los Angeles, Inglewood and San Diego .
| City | Population | Crime rate |
||
|---|---|---|---|---|
| OAKLAND | 399,487 | 19.93 | Map it | View Details |
| STOCKTON | 299,105 | 15.48 | Map it | View Details |
| RICHMOND | 106,357 | 10.93 | Map it | View Details |
| ANTIOCH | 105,009 | 10.17 | Map it | View Details |
| MODESTO | 204,631 | 7.77 | Map it | View Details |
| VALLEJO | 117,912 | 7.45 | Map it | View Details |
| SACRAMENTO | 476,557 | 7.39 | Map it | View Details |
| SAN FRANCISCO | 820,363 | 7.04 | Map it | View Details |
| INGLEWOOD | 111,488 | 7 | Map it | View Details |
| SANTA MARIA | 101,207 | 6.78 | Map it | View Details |
| POMONA | 151,511 | 6.74 | Map it | View Details |
| SALINAS | 154,413 | 6.65 | Map it | View Details |
| LONG BEACH | 469,893 | 5.76 | Map it | View Details |
| VICTORVILLE | 118,687 | 5.7 | Map it | View Details |
| FRESNO | 506,011 | 5.43 | Map it | View Details |
| BAKERSFIELD | 355,696 | 5.42 | Map it | View Details |
| LANCASTER | 159,155 | 5.4 | Map it | View Details |
| PALMDALE | 155,294 | 5.23 | Map it | View Details |
| RIALTO | 101,595 | 5.01 | Map it | View Details |
| LOS ANGELES | 3,855,122 | 4.81 | Map it | View Details |
| RIVERSIDE | 313,532 | 4.43 | Map it | View Details |
| BERKELEY | 114,961 | 4.35 | Map it | View Details |
| VISALIA | 127,604 | 4.26 | Map it | View Details |
| ESCONDIDO | 147,386 | 4.26 | Map it | View Details |
| OCEANSIDE | 171,141 | 4.25 | Map it | View Details |
Pension debt could sink River City
http://www.calwatchdog.com/2013/01/09/pension-debt-could-sink-river-city/
Sac city manager predict deficits as far as the eye can see
Arena plan puts the ‘king’ in parking
http://www.sacramentopress.com/headline/66669/Arena_plan_puts_the_king_in_parking
Did Sacramento Leaders Negotiate the Best Arena Deal For The City? A look at the last 10 NBA Arena Deals
Eye on Sacramento Reviews Term Sheet
http://stoparenasubsidy.com/stoparenasubsidy.com/links_files/EyeonSacArena.pdf
Now that basketball team staying, Sacramento sets sights on new arena
http://www.reuters.com/article/2013/06/01/us-usa-nba-kings-idUSBRE95006720130601
How big will Sacramento’s subsidy be for a Kings arena?
ttp://www.sacbee.com/2013/05/03/5391700/how-big-will-sacramentos-subsidy.html
