Sacramento mayor: City reaches deal on $448 million arena

03/23/2013 5:53 PM

03/23/2013 5:56 PM

Sacramento Mayor Kevin Johnson has announced the city has reached an agreement on a $448 million deal with a private investment group to build an arena at the Downtown Plaza site.

The city will put $258 million in value into the deal, mainly by bonding against its downtown parking garage future revenues, and by selling several downtown parcels to developers.

Read the complete story at Sacbee.com .

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