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Rancho Cordova approves the Downtown Dova arena on a 4-1 vote
Downtown Dova's arena and hotels are big, and the vote wasn't unanimous
- 7,500
- seats in the planned arena
- 800
- hotel rooms across at least two hotels
- 4-1
- council vote on Monday
Sources: KCRA, CBS Sacramento
If you follow Sacramento-area development, here's the news: the Rancho Cordova City Council approved a development agreement and public financing package Monday for Downtown Dova. The 7,500-seat arena is planned near Kilgore Road and Trade Center Drive and is expected to host a professional indoor soccer team. Councilmember Joe Little cast the one no vote.
The complex also includes at least two full-service hotels and a retail and dining district. Homes are part of it too: KCRA reports up to 1,000, while CBS Sacramento reports at least 640 units.
The city is expected to contribute $185 million over time. Under the agreement, the owners would receive half of the development's sales tax revenue and all of its hotel and casino tax revenue. The city would also contribute up to $15 million toward police and fire services.
$185 millionexpected city contribution over time
CBS Sacramento says the public financing package could provide up to $185 million in support for the project.
Sources: KCRA, CBS Sacramento
- Groundbreaking: developers hope to start within 90 days
- Permanent jobs projected: 70 full-time, 300 part-time
- Construction hiring: nearly 5,000 people expected
- Opposition: concerns about traffic and the city's finances
