The Sacramento MLS group has agreed to buy 31 acres to house a $252M stadium and other developmentREPUBLIC FC
Sacramento Mayor Darrell Steinberg and city officials are embarking on an "aggressive push" to land an MLS franchise that includes are proposing a $33M package of "fee waivers, tax rebates, advertising rights and infrastructure financing" for a downtown stadium, according to a front-page piece by Tony Bizjak of the SACRAMENTO BEE. The package was "negotiated over the last few months" between city officials and USL club Sacramento Republic FC lead investor Ron Burkle. Steinberg said that the deal "represents the city's good faith effort to show MLS and the Burkle group that Sacramento supports the team." The MLS BOD will meet in L.A. in two weeks to "discuss adding a 28th team to the league;" Sacramento and St. Louis are seen as the leading candidate cities. The Burkle group has an agreement to "buy 31 acres in the downtown railyard" that would house a $252M stadium and "other adjacent development." Steinberg and city negotiators have "agreed to set up a special infrastructure financing district on the 31 acres to capture tax revenue" to pay for up to $27.2M in infrastructure around the stadium. Under the package, the team would "build the infrastructure," and the city would then "rebate future increased property taxes from the site back to the team." The team would also "pay to build, own and operate the stadium," and will "pay for all upgrades." The team's name "must start with the word Sacramento; the plan is to continue to call the team Sacramento Republic FC" (SACRAMENTO BEE, 4/5).
