Arena Negotiations Begin

On Tuesday the City Council unanimously agreed to a four-month exclusive negotiating agreement with developers Gerry Kamilos and David Taylor and their team, known as Sacramento Convergence LLC.

During the 120 days, the developers must provide the city with a detailed financing plan and a conceptual plan for the sports and entertainment complex proposed for the downtown railyards. From those details, the city can evaluate the proposal’s financial feasibility.

As agreed, the Kamilos team has 10 days to submit to the city agreements with the National Basketball Association, the owners of the Sacramento Kings and Cal Expo. The developers have 30 days to turn in their detailed Convergence proposal, and 60 days to submit plans for the sports and entertainment complex.

The Kamilos group also must pay the city $170,000 for expenses during the four months. The money will pay for a full-time city project manager with expertise in developing sports complexes, at least one financial adviser, and an outside attorney to help craft a pre-development agreement.

The proposal has the backing of the NBA and Maloof Sports & Entertainment, which owns the Kings and Arco Arena.

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I for one think this Convergence plans a joke and won’t happen because of two reasons. One, the state legislators would have to agree to sell Cal Expo for the purpose of building Sacramento a new arena ($450 million) and pay off the debt owed to the City ($69 million) and I just don’t see the lawmakers going for that. Two, according to the Sac Bee story on April 28th, Kamilos' development team would give the state $2 million to spend on planning the move from Cal Expo to Arco Arena with the assumption that the State will pay to build new fairgrounds. If Cal Expo sold for $1.5 million per acre that would net $525 million which would cover both the Arena and what’s owed to the city leaving $6 million for new fairgrounds at Arco. That’s not nearly enough to do the job if they were lucky enough to sell the land at that high a price tag, so who else to pay for the new fairgrounds other than the tax payers of California during the biggest budget deficits in the States history. I don’t think the City Council had their heads on straight when they approved to move forward the Kamilo’s team… Kamilo didn’t even provide a rendering of the proposed arena which was a something the six other development groups did do.

Funding for Vehicles on K Street

Today the City staff will recommend the transfer of approximately $2.7 million of existing capital improvement project money to fund both the design and construction phases to allow vehicle traffic back onto K Street from 8th to 12th Streets. This action will only be for budgetary purposes and does not constitute final approval to implement the project. The design and construction phase has an estimated cost ranging from $2,689,000 to $3,248,000. The City of Sacramento's departments of Economic Development and Transportation has retained DKS Associates to conduct both the engineering study that began in June 2009 and options for mixed flow traffic and transit along the street.

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I’m still not thrilled about the idea that having cars back on K Street. This streets problems mostly occur in the 700 & 800 blocks where rundown buildings by shady landlords have allowed it to descend. Both the 1100 & 1200 blocks seem fine to me. The city is currently spending $4 million to re-surface 700 block while also have plans to re-surface several more blocks and reintroducing auto traffic which will then tear up the streets again... so what's it going to be?

One more thing if anyone in the City Council is listening, please turn on the speakers that are already installed along K Street and play some Jazz again or some other kind of calming music. Back in the 90’s, Jazz music was pumped onto K Street and it seemed to bring a relaxing atmospher to the street, but  then after several years they were turned off… why? Since the speakers are already installed, just flip the switch on again.

Maydestone Moving Forward

On Tuesday the City of Sacramento will approve a loan increase to the Redevelopment Agency to increase the loan from $4,570,000 to $6,100,000 for acquisition, construction, and permanent financing of the 32-unit historic Maydestone apartment building. This 4-story landmark building is located across the Memorial Auditorium at 15th and J Streets. The property has been vacant and boarded for more than six years due to a fire and needs substantial improvements.

Since Redevelopment Agency funding approval was obtained in April 2009, D & S Development, Inc. (Developer) has been working diligently to secure conventional bank financing to proceed with the renovation. Under the current restrictive lending environment, the Developer has been unable to obtain a construction or permanent loan from a conventional lender. The result is a loss of approximately $2 million in project financing. To fill this gap, the Developer is contributing an additional $100,000 of Owner Equity, costs savings of $370,000 have been identified, and the Developer is requesting an additional $1,530,000 in Agency funds. Staff is seeking approval for an additional $1,530,000 in Downtown Low/Moderate Housing Funds to augment the existing $4,570,000 Agency loan which will increase the loan to $6,100,000.

The $1.53 million of new Agency funds will consist of a $1.23 million nonforgivable loan and $300,000 to be forgivable pursuant to costs associated with ADA/accessibility upgrades including related off-site improvements due to public funding requirements. In consideration for the increased Agency loan, eight market rate units will now be restricted at 110% of Area Median Income for 55 years.

The 4-story apartment building built in 1915 has been vacant and boarded for over six years. The proposed project will convert 32 dilapidated units into 24 studio units, and 8 one-bedroom units affordable to households who earn between 60 -110% of the area median income. Amenities will include a renovated basement for primary use as community space with a community room, manager's office, exercise room, individual storage, and a laundry room.

The Developer must complete construction of the project by February 1, 2012.

Grant to Aid in Clean-Up at Former PG&E Power Station

The City of Sacramento was awarded a $200,000 United States Environmental Protection Agency (EPA) Clean-Up Grant to aid in environmental remediation and clean-up efforts at the former PG&E power station on Jibboom Street. The power station, built in 1912, has been shuttered since the early 1960s. The EPA Brownfield grant will be used to remove contaminated soil from the interior of the building in preparation for the development of the $40 million riverfront Powerhouse Science Center – a science, space and technology center that is planned for the vacant building.

The City will use its Brownfield Clean-up Grant to perform remediation activities at the former PG&E power station. This will include the excavation and disposal of approximately 1,960 cubic yards of contaminated soil at an off-site hazardous waste facility. Following the remediation, soil samples will be collected to verify that adequate soil has been removed. The environmental clean up efforts are being overseen by the California Department of Toxic Substance Control.

Ultimately, the future science center will link other riverfront amenities by transforming the site from unused land to a regional amenity that will also include a restaurant and educational center, a planetarium, and an inviting open space park area.

Press Release

7th & H Street SRO Proposal

Mercy Housing California of West Sacramento proposing affordable housing at the corner of 7th & H Street that will include 122 studios (325sf) and 28 one bed room (500sf) units as well as sixteen parking spaces, retail and health clinic on the ground floor. This eight story 102 foot tall building’s designed to replace other single room occupancy (SRO) units in downtown that are going to be replaced with other developments in the future.

There will be 3,900sf of retail space as well as 3,750sf health clinic, residential lobby, and a structured parking garage. 7th & H will also be designed to have a LEED-Silver standard and registered with the US Green Building Council. This project is the first mid-rise residential tower in the newly redefined Central Core District, and the first project to use the new Urban Design Guidelines. It located across the street from the County Jail and on an existing RT light rail line located along the north side of H Street, and a future RT line proposed on the east side of the 7th Street.

The project will require the Planning Commission approval of entitlements and to combine 5 existing parcels into one lot for the commercial condominium purposed. The Planning Commission is scheduled to hear this project on April 21st and then again on May 6, 2010 for Final action.

Preservation Commission to hear K Street Projects Today

The Sacramento's Preservation Commission will meet at City Hall today to discuss the four projects proposed for the 700 and 800 blocks of K Street. The Commission will be adding their review and comment on the proposals concerning several historic landmark buildings as well as historic buildings that not currently on the city register. Several of the proposals also involve other historic buildings not in the project areas.

Other projects to be reviewed at the Preservation Commission include a presentation about the Powerhouse Science Center, a museum planned for a riverfront site and another historic building, the old PG&E powerhouse, and a plan for structural and life safety upgrade to the Sacramento Valley Station, another Sacramento landmark, as part of the overall rehab and expansion of the intermodal depot. The Preservation Commission will also discuss policy with The Minimum Maintenance Sub-Committee, which deals with how the city addresses historic properties allowed to fall into disrepair, will provide a report. The Historic/Cultural Resources Survey Committee will report on historic building surveys performed for the city, some of which could result in new historic districts.

New City Hall
915 I Street- 1st Floor, Council Chambers
April 7, 2010- 5:30 P.M.

Tonight’s agenda

Sac Bike Swap in Fremont Park

The Sacramento Bike Kitchen, together with the Friends of Fremont Park, present their First Annual Bicycle Swap Meet in Midtown Sacramento

Here is your chance to get a great deal on used bikes, parts, and clothing from other bike riders and enthusiasts. If you’ve got some things in your closet that you’ve been waiting to sell — old, new, vintage, or perhaps wrong size, this might be a great opportunity to finally get it done. If you’re looking for stuff, this will be a place to find it. Proceeds will go to benefit the non-profit organizations Sac Bike Kitchen and the Friends of Fremont Park.

There are only so many spots available and are reserved on a first-come, first serve basis.

WHEN: Saturday, April 10th, 9-2PM (rain date Saturday, April 17th)

WHERE: Fremont Park in Midtown Sacramento, 1 square block, between P&Q and 15th &16th Streets. It’s the green space located in front of the the restaurant Hot Italian.


ADMISSION: FREE!

RESERVE A SPACE: Use the form below.

• 10′ x 10′ space – $10.00

• Each additional space 10′ x 10′ is $10.00

Check-in starts at 8 AM. All reserved spots must be claimed and paid for by 8:30 or will be forfeited. NO EXCEPTIONS.

FAQs:
No cars are allowed in the park. Items must be carried or rolled in.
There are parking meters in the area, but many side streets have 2 hour free parking.
Set up can start as early as 8:00 AM

For more info and to reserve a space, visit: http://fremontpark.net/2010/03/sac-bike-swap-in-the-park/

http://fremontpark.net/