A coalition has launched a bid to force Sacramento leaders to put the city’s $250 million commitment to a new National Basketball Association arena on the ballot.
The Sacramento Taxpayers Opposed to Pork, or STOP, said it is opposed to the city spending money on the $400 million basketball arena deal without voter approval, according to the Sacramento Bee.
The group said it hopes to gather 30,000 signatures before the end of May to qualify for the November ballot, the newspaper said.
California’s capital city will consider committing millions of dollars from leasing parking garages to help pay for part of its share of the new area, which would be partially recovered through ticket surcharges and parking at the arena.
The City Council approved a nonbinding financing plan for the new home of the Sacramento Kings on March 6. The move is the first major step of many that will require council approval before the arena is built.
The Kings’ owners, the Maloof family, agreed as part of the initial plan to contribute $73 million and sign a 30-year lease to help build their new home.
They are also set to pay off a $67 million bond issued by Sacramento for the team’s current arena and take out another loan with an unknown lender.
The Anschutz Entertainment Group, which has been slated to operate the arena, would add $58 million to the financing as part of the agreement.
The new facility will be located downtown in an old railyard.