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 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.
An A+ and A rating allowed the City of Sacramento to offer more than $270 million in bonds to help pay for the city's share of the new Golden 1 Center arena downtown.
While the outside of the new downtown arena takes shape, preliminary foundation work has begun for the new hotel next to the arena.
A company headquartered in China, but that was once based near Sacramento has been selected by the Sacramento Kings to install solar panels on the new arena.
Construction Begins On New Bridge Between Capitol Mall And Old Sac
Mon, Sep 07, 2015
Work has begun on a new bridge over Interstate 5 in Sacramento.
Residents Drop "Secret Subsidies" Arena Lawsuit Against City
Thu, Aug 06, 2015
Three Sacramento residents have dropped their lawsuit against the city for allegedly providing "secret subsidies" to the Kings' arena.
City Moves Forward With Bonds For The Arena
Tue, Jul 28, 2015
UPDATE Aug. 13, 11:52 a.m. - The City of Sacramento has sold $299 million in bonds to help pay for the construction of a new arena in downtown Sacramento.
The City of Sacramento has agreed to hold 15 million emails as part of a lawsuit filed by two people who filed a California Public Records Act Request.
Arena Subsidy Case Goes To Judge
Wed, Jul 08, 2015
Closing arguments are complete in the trial over whether the city of Sacramento provided an illegal subsidy to the Sacramento Kings ownership group as part of the arena deal.