Friday, March 21, 2014
SACRAMENTO, Calif. (AP) — A judge has given Sacramento possession of a former Macy's department store downtown, the last parcel of land needed for the development of a new sports arena.
The Sacramento Bee says (http://bit.ly/1r4Hx2H) Thursday's decision by a Superior Court judge affirmed an earlier, tentative ruling. It enables the city to use the eminent domain law to wrest control of the vacant building from its owners, a group of mortgage-certificate holders and the California Public Employees' Retirement System. CalPERS didn't fight the city, but the mortgage holders did.
Plans for a new $448 million Kings arena show the Macy's property covers much of the footprint for the proposed complex.
Officials with the city and the Kings say they hope to begin construction later this spring.
A lawyer for the mortgage certificate holders was unavailable for comment.
Information from: The Sacramento Bee, http://www.sacbee.com