The last hurdle for a new downtown arena has been cleared. While it was always extremely unlikely that anything would be able to stop the arena from being built, there was one final obstacle preventing the city from providing the funds necessary for the project: a lawsuit by STOP and their lawyers alleging that the city of Sacramento gave the Sacramento Kings a "secret subsidy" to keep the team in Sacramento.
That lawsuit was thrown out of court today, with Judge Timothy Frawley siding with the city of Sacramento. Dale Kasler and Tony Bizjak, who have been on the arena beat from Day 1, have the news:
With this lawsuit over and done with, the city of Sacramento can now issue the parking revenue bonds to finish financing the arena. As of now, the Kings have paid for all parts of construction. The Kings are also responsible for any cost overruns the project might entail.
Sacramento's new downtown arena, the Golden 1 Center, is scheduled to open in October of 2016. The first parts of the roof trusses went up this past week.
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