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 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.
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.
A lawsuit against the City of Sacramento and the Sacramento Kings has gone to trial.
UPDATE: The Sacramento Kings announced Tuesday morning that their new arena will be named Golden 1 Center after the credit union that is headquartered in Sacramento.
Crews are about one quarter into construction of Sacramento's new downtown arena and are already about halfway done with some key components of the project.
Business Journal: Kimpton Hotels, Warehouse Artist Lofts
Fri, Apr 17, 2015
The newly opened Warehouse Artist Lofts complex in Downtown Sacramento is already triggering economic activity along the R Street Corridor.
Business Journal: Urijah Faber, B Street Theatre, Mental Health
Fri, Mar 27, 2015
Mixed martial arts (MMA) superstar Urijah Faber is not only one of Sacramento's biggest celebrities, he's also an active entrepreneur.
Business Journal: Beer Week, Food Allergy Cafe, Online Poker
Fri, Feb 27, 2015
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.
Kings/City To Pay $8 Million For Piglet-Inspired Sculpture
Thu, Feb 26, 2015
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.
Downtown Arena Complex Moves Forward With Hotel And Condo Tower
Fri, Feb 13, 2015
A hotel and condo tower that will be part of the new downtown arena complex is closer to becoming reality.