by Ken Gimblin

SACRAMENTO–Sacramento Superior Court Judge Raymond Cadei looks to be leaning toward ruling in favor for the city and the Sacramento Kings to get the last road block removed in order to get the Kings new arena build underway. Although Cadei has not made an official ruling in the immienent domain case for the city and the Kings to buy the old Macy’s men’s store that sits near the Downtown Plaza and near Old Sacramento entrance.

Cadei is expected to be making a ruling this week, Cadei made a tentative ruling in favor of the city and the Kings. The parcel which is owned by CalPERS and certificate owners or U.S. Bank owns the building and CalPERS has said that they have no objection in selling their share of the building. Attorneys for the certificate owners are said not to be satisfied with the purchase price offered by the city at $4.35 million.

The owners argued in court on Tuesday that according to property tax roles the property is more like $10 million. The Kings not the city would purchase the property. The Kings have spent $36 million purchasing the rest of Downtown Plaza. Cadei said he needed more time to study the arguements from the owners side but he did indicate that the property was needed to be sold to the Kings so that they can start building the new arena.

Cadei added that any further delay with a 2017 deadline set by the NBA to have the arena ready would put the project in jeopardy and that the building is sitting vacant and that CalPERS or the certificate owners would not suffer any financial consequences as a result of relinquishing the building but the city would suffer in trying to obtain the property. The property owner’s attorney George Speir said that the imminent domain process was flawed and that the City Council who got the lawsuit started voted only to cover the land and not the building. The land share is controlled by CalPERS and the building is controlled by the certificate owners.

CalPERS who is happy to sell would get their share covered while the certificate owners will not get anything for the buidling which is their share of the property. The debate now is about the price and Cadei could question the city and the Kings about the asking price if Cadei sees that the certificate owners are shortchanged in the deal. Otherwise Cadei could rule for the Kings asking price at $4.35 million and CalPERS and the certificate owners would have to work the shares of the money out.

Ken Gimblin is covering the new arena developments for the Sacramento Kings and the Golden State Warriors for Sportstalk radio