Rancho CordovaTop story
Rancho Cordova approves public financing for the Downtown Dova arena
Downtown Dova is built around a 7,500-seat arena
- 7,500
- seats in the planned arena
- 800
- combined rooms in at least two hotels
- 4-1
- council vote Monday
Sources: KCRA, CBS Sacramento
Rancho Cordova's City Council has approved a development agreement and public financing package for Downtown Dova, a 7,500-seat arena planned near Kilgore Road and Trade Center Drive. The vote was 4-1, with Councilmember Joe Little voting against. KCRA reports the complex will also include hotels, a retail and dining district and housing.
Owners would get half the sales tax revenue the development generates and all of its hotel and casino tax revenue, and the city would contribute up to $15 million toward police and fire services. The package could provide up to $185 million in support. "This is performance-based, and we are holding them accountable," Councilmember Siri Pulipati said. Indoor soccer fans, take note: the arena is expected to host a professional team.
- Jobs: 70 full-time and 300 part-time projected
- Construction: nearly 5,000 people expected to be hired
- Groundbreaking: developers hope within the next 90 days
- Opposition: traffic and the project's financial impact
The city's package would give owners tax revenue and up to $185 million
| Public support | What it means |
|---|---|
| Sales tax revenue | Half goes to the owners |
| Hotel and casino tax revenue | All goes to the owners |
| Police and fire services | City contributes up to $15 million |
| Total public support | Up to $185 million |
Source: CBS Sacramento
