Sacramento to vote on $477 million Kings NBA arena

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Updated: 5/20 2:07 pm

SACRAMENTO, Calif. (AP) — The Sacramento City Council is scheduled to take its final vote on a $477 million downtown arena for the Kings NBA franchise.

The vote, expected late Tuesday night, would cap a lengthy struggle to find a new home for a team that nearly left last year. Kings President Chris Granger calls it "a historic day."

The deal calls for a 35-year lease agreement between the city and team. The city would be responsible for a $223 million subsidy, much of it financed through a bond backed by parking revenue.

In return, the Kings would replace an aging shopping mall and build a crown-like facility with diamond-shaped windows.

If the arena wins approval, the Kings are scheduled to break ground this summer and open it in time for the 2016-17 season.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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