The City has asked the City Council to approve the use of eminent domain in order to take control of half of the 600 block of K Street that CalPERS owns.
If the Council approves the implementation of eminent domain, Assistant City Manager John Dangberg says the City will ask a court to force CalPERS to turn over control of the property.
"If that is confirmed, the City will gain possession of the site. And in the subsequent months, the determination will be made as to what the fair compensation is. And, that will be a jury trial."
Dangberg says a court hearing would likely be held 60-to-75 days after the City files a motion.
The City Council will be asked to vote on the matter on Tuesday.
The City says the offer Cal PERS rejected in October was based on an independent appraisal. Cal PERS says it is working on solutions that are "in the best interests of everyone involved.
View the City Council document on the topic here.
Mixed martial arts (MMA) superstar Urijah Faber is not only one of Sacramento's biggest celebrities, he's also an active entrepreneur.
If you have food allergies, there may be a new café opening soon in midtown Sacramento just for you. Sacramento Business Journal Jack Robinson has the details.
The Sacramento Kings and City of Sacramento have agreed to pay almost all of a $5.5 million fund set aside for arena art for a single piece. Three Kings owners ponied up another $1 million each to commission the work of New York artist Jeff Koons.
A hotel and condo tower that will be part of the new downtown arena complex is closer to becoming reality.
A deal was reached to settle a lawsuit over the final piece of property needed to develop a new downtown arena for the Sacramento Kings.
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