Sacramento parking RFQ published

California’s state capital has gone ahead with a parking privatisation plan intended to finance a new stadium for its professional basketball franchise. The RFQ is due January 30.

Sacramento has published a request for qualification (RFQ) that is expected to result in the lease of its downtown parking.

The would-be parking concession was conceived as a solution to generate enough revenue for a state-of-the-art entertainment and sports complex intended to keep the Kings, a National Basketball Association franchise, from moving away from Sacramento.

Think BIG Sacramento, a think-tank created by mayor Kevin Johnson for the purpose of determining how the California state capital could keep the Kings from moving to a different metropolitan area, came up with the idea for the public-private partnership (PPP).

Think BIG spokesman Jeremiah Jackson said the RFQ is due January 30. He added that the envisioned stadium would also host music and theatrical entertainment, in addition to professional basketball.

The RFQ had been slated for December, but Sacramento was advised to wait until January, after the holiday season, to begin solicitation.

The city has struggled to retain the NBA team, which has issued a March deadline for Sacramento to come up with a plan to finance the stadium, estimated to cost $400 million.

Sacramento has estimated a PPP could offer the private sector a 7,200-space garage parking lease and a 5,500 on-street parking deal.

Meanwhile, Jackson has said the concession could generate between $170 million and $245 million for Sacramento.