March 10, 2014

Despite reports in the Sacramento Bee over the weekend, CalPERS has no objection to the City of Sacramento’s right to acquire the Macy’s property through eminent domain for the development of a downtown arena. We are not represented by C-III in the arena dispute and we have stated publicly in court papers that we opposed the change in venue that a judge ruled on today. We recognize the significance of the City’s downtown redevelopment efforts and are eager to find a resolution that is in the best interests of everyone involved - including our members, the City of Sacramento and the tenant of the property.