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City of Sacramento adds Arena Item to the Agenda for Tuesday's (2/26) council meeting.
According to the announcement:
Principles, Professional Services Budget, Contract Amendment and Council Direction to Complete Due Diligence and Negotiate Preliminary Terms for the Potential Development of a Downtown Entertainment and Sports Center (To Be Delivered) [Updated 2-23-13 @ 4:10 pm]
Recommendation: Pass a motion: 1) adopting principles for due diligence and the negotiation of preliminary terms for the potential development of a downtown entertainment and sports center; 2) authorizing the City Manager or his designee to complete due diligence and negotiate preliminary terms for the development of a downtown entertainment and sports center consistent with the adopted principles; and 3) authorize the City Manager or his designee to increase City agreement #2013-0108 with Barrett Sports Group by an amount not to exceed $90,000 and subject to approval as to form by the City Attorney. Pass a Resolution authorizing the City Manager to transfer $150,000 from the General Fund administrative contingency to the City Manager's Office budget to fund professional and legal services for due diligence and negotiation of preliminary terms for the potential development of a downtown entertainment and sports center.