SACRAMENTO, CA - The Sacramento City Council decided to move ahead with their plan to privatize the city's parking assets, without putting it on the ballot, in order to fund a new sports and entertainment arena, at Tuesday's city council meeting.
The city believes it could raise up to $200 million if it handed over revenue from city parking to a private company for the next 50 years.
City Council member Sandy Sheedy introduced a motion to put the issue before voters on the June ballot.
The council voted 5 to 4 against Sheedy's motion.
Council members Sheedy, Kevin McCarthy, Bonnie Pannell and Darrell Fong voted for the motion.
Sheedy's plan conflicted with the city's March 1 deadline to deliver a funding plan to the NBA. If there was no plan, the NBA said it would allow the Kings' owners to consider moving the franchise.
News10/KXTV