The Sacramento city council has approved the final Kings arena plan last night with a 7-2 vote. The city will now go ahead with selling $298.4 million in bonds for the $477 million project, with about $226 million of that ultimately coming out of the public’s pocket. Over the life of the Bond the city will pay $715 million in principal and interest.
Construction on the sports facility will break ground this summer and open in time for the 2016-17 season. The 17,500-seat arena will be slightly larger than the Kings' current aging facility.