A multi-million dollar courtroom drama over land value for the Sacramento Kings new stadium is brewing.
Land values are differing by $25 Million :
- Land investors/owners say the land value is $31.5 Million.
- The City of Sacramento says its $6.3 Million.
If the $25 Million gap in valuations wasn’t enough- the eminent domain process is further complicated by CALPERS being an investor in a segment of land. CALPERs values its land at $12.5 Million.
Under California Law, valuations are based as though there is no Kings arena being built. Trial is scheduled for April. Sacramento Bee
Now, we know why the Buffalo Bills support paying more for property in negotiations than going to court. Information Intelligence