Bloomberg: “Sacramento Is Fresh Victim of Bad Stadium Deals”

Call me a skeptic; I am relieved the arena deal fell through...for many reasons detailed at RanSACked Media and the Apr 16 Bloomberg article:

• Overblown estimates
• " It’s about the foolishness of city officials who pin urban renewal hopes and taxpayer dollars on sports complexes despite the public’s declining willingness to pony up the cash…"
• “…These deals are not about economic growth, but civic pride... Second-tier cities believe that professional sports put them on the map, although all they do is provide some unexceptional entertainment and enrich team owners, who cleverly manipulate the local inferiority complex to gain arena subsidies…”

One article I read this week says, however, the "process for leasing out the "public" parking facilities is moving forward regardless." Yuck.

Previous.

On the proposed Sacramento arena

Arena backers will promise the moon to secure votes to move forward.

If and when they succeed, they will have to walk back everything as the dreams fail to come to fruition.

Thinking about this while driving past the 24-year-old Arco Arena this afternoon. How did the planners not get it right in 1998? How will they get it right this time 'round?

Also, too:

Sacramento County Grand Jury report
Discussing the shady dealings surrounding the 2006 failed tax Measures Q & R
http://www.scribd.com/doc/81505293/Kings-Interim-Report

Professional Sports Facilities, Franchisesand Urban Economic Development
University of Maryland, Baltimore County Economics Department Working Paper 03-103
http://www.scribd.com/doc/81499097/Professional-Sports-Facilities-Franchises-and-Urban-Economic-Development