Sacramento spent $680K on failed arena project

8:14 AM, May 8, 2012   |    comments
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SACRAMENTO -  According to a recent analysis, Sacramento city officials spent $680,000 on a failed attempt to build a new arena downtown.

That includes $8,000 in travel costs to cities including New York, Los Angeles, Dallas, and Orlando while the city was in negotiations with AEG, the NBA, and the Maloofs.

The largest portion, about $252,000, was spent on a Barrett Sports Group, a consultant that served as lead negotiator. 

Another $175,000 was spent on a financial analysis to determine how the city could generate funding through its parking garages.

Most of the $680,000 did not come out of the city's general fund, but instead, its self funded parking account. 

Mayor Johnson also did a lot of traveling during his attempts to land the deal, but he paid for his own travel.

The money didn't all go to waste however.  A portion of the sum was spent on planning for a major transit center that will be built at the old railyards downtown.

News10/KXTV

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