Business Journal: Projects Compete For Funds
Developers in two high-profile Downtown Sacramento infill projects are rivals for millions of dollars in state funding.
Tuesday, February 19, 2008
Thomas Enterprises’ The Railyards and Township 9 are hoping for a piece of the $335 million pie in Proposition 1C funding, which voters passed in 2006. The funds are designated for transit-oriented and infill projects. There are a few channels for cash, but one big prize is a state infrastructure grant program that guarantees up to $17 million to one major Sacramento project. City staffers have chosen The Railyards for this cash. They say it will score higher on the state’s checklist for transit-oriented development because it already has a light-rail station; Township 9 isn’t due for one until 2010. But city staffers are recommending Township 9 for a larger pool of funds set aside for infill projects. Both projects, though, are eligible for this funding.