Sacramento Lodges Eminent Domain Suit For $447M Arena

Law360, New York (January 10, 2014, 7:05 PM EST) -- Sacramento, Calif., officials launched suit in state court Thursday against the California Public Employees' Retirement System, or CalPERS, and U.S. Bank NA to seize through eminent domain a Downtown Plaza parcel for development of the proposed $447 million Sacramento Kings arena.

The city is seeking to have the parcel, the currently vacant 600 K Street building that was home to a former Macy’s Men’s Store, condemned so that it can take control and move ahead with the planned development of the city’s entertainment and sports center...
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