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.
The new arena in downtown Sacramento is about four months from opening, and there is still much planning to be done if several Sacramento city departments are to be ready.
Phase 1 of Sacramento Regional Transit’s plan to improve downtown stations begins today.
The Sacramento City Council has approved $614,250 for two art projects at the new downtown Golden 1 Center. A Sacramento and San Francisco artist each were selected.
The Sacramento City Treasurer says a lawsuit filed against the city and the Sacramento Kings' arena project caused a delay in the bond-buying process.
The Century Downtown Plaza 7 theater complex that closed this week for remodeling will reopen in the fall with a new name - Century DoCo 9 Theaters. Sacramento Business Journal Editor Jack Robinson tells us about that story and more business news.
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