Senate President Pro Tem Darrell Steinberg (D-Sacramento) introduced a bill Monday that would require professional sports teams to pay off all debt involving taxpayer dollars to the municipality in which they are located before signing an agreement to move to another California city or county. bar one California city from issuing bonds to lure a professional sports team from another city in which existing bonds had not been paid. It would effectively require that the Sacramento Kings repay the city $77 million before the bonds approved by the Anaheim City Council could be issued. “It’s all about public dollars involved not just in the situation currently pending with regards to the (Sac

Sacramento officials anticipate that if the Kings move, the $77 million in bonds issued by the city will be paid off, but City Councilman Kevin McCarty said he is concerned about when. He said they could do one of three things: “They could move and pay back their loan, or they could move and make minimum payments for the next 15 years, or, No. 3, they could move and default” He added that he is pushing for a single lump sum payoff if the Kings do move. He said his reading of the 1997 contract for the loan with former Kings owner Jim Thomas is that the loan must be paid in full if the Kings move, but he has his doubts. “How are they going to pay off the city’s (loan) if they don’t have t

Sacramento Mayor Kevin Johnson said the Maloofs told him Monday they would pay back the $77 million in lease revenue bonds they borrowed from the city in 1997. Johnson told reporters about his conversation with the Maloofs at a press conference in North Highlands Tuesday. Assistant City Manager John Dangberg sent a letter to the city of Anaheim Monday asking officials to stop negotiating with the Kings to be their new host city. If Anaheim won’t stop talks with the Kings, then Sacramento wants Anaheim to require the Kings to pay their debt to Sacramento, the letter said.  “The Maloofs have told me, time and time again, that they are going to fulfill the obligation and pay back the loan,

Chief Operations Manager Josh Harmatz has recently been listed as one of the 100 finalists for the Sacramento Business Journal’s 40 Under 40 Award, which recognizes 40 exceptional Sacramento area professionals for their business success and community contributions. The 40 Under 40 Awards will be presented on Tuesday, April 26 by the Sacramento Business Journal. Harmatz was nominated by his employees for his exceptional motivation and drive and his expertise in handling high-stress situations with efficiency and ease. “Josh is the type of person that you can take a problem to and he will provide you with 10 potential solutions in 30 seconds,” said Katrina Silberstein, marketing manager. “

Sacramento, Calif.— Voyage Home Loans donated $480 worth of school supplies to 60 third grade students of Freeport Elementary School of Sacramento on Friday, September 10. Each student received a binder and a goody bag full of school supplies, which included scissors, colored pencils, crayons, watercolor sets, a highlighter, a glue stick, a ruler, four pencils and four erasers. They also provided each of the three third grade classrooms with notebook paper, copy paper, colored paper, tissues, and alcohol-free hand sanitizer. “It was wonderful! The students were very surprised when they were given their very own bag of supplies,” said Freeport Elementary Principal Amy Whitten. “They were

The Sacramento City Council passed a motion on the 20th of last week to loan an additional $160,000 to the existing $253,839 loan principal to create a new loan to be used for capital improvements to the theater. The loan is forgivable in the year 2019 if the theater makes structural, safety, and aesthetic improvements as part of scenic easement to the Crest Theater marquee. An Owner Participation Agreement (OPA) with The Briggs Family Group (Owner) is to provide Downtown Redevelopment tax increment funds to the project. The loan would add $160,000 to the existing loan principal $253,839 and create a new loan of $413,839 to be used for capital improvements to the theater.   Minutes from S