By Randy Diamond | Sacramento Bee
The city of Sacramento’s plans to use parking revenue to pay off $273 million in construction bonds for Golden 1 Center has developed funding cracks, forcing officials to use money from the city’s general fund, a pot of money that also pays for homelessness services, libraries and parks.
The problem: Too many empty spaces in Sacramento’s five garages, a continuing hangover from the COVID-19 pandemic. This has forced the city of Sacramento to divert from its $771 million general fund more than $5.7 million over the past two years to pay off the construction bonds.
With the preseason finishing Oct. 19, the Kings hope to return to another playoff-bound campaign Oct. 25, with the first home game against the Golden State Warriors Friday, Oct. 25.
But city officials said even as the Kings have filled Golden 1 and other entertainment events have resumed, remote work has left downtown office buildings only partially filled, lessening the demand for parking spaces.
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