City, Railyards Developer Squabbling Over State Funds
The company developing the Railyards project in downtown Sacramento wants the city to support its bid for crucial state funds. But the city has other plans.
Tuesday, March 18, 2008
The funds would come from Proposition 1C, the big housing bond voters passed in 2006. The city recently applied for $17 million for the Railyards. On Tuesday, it’ll vote to apply for up to $30 million more.
A staff report recommends the city support Township 9, a 65-acre project near the American River. But Railyards developer Thomas Enterprises wants that money too.
Totah: “Without those funds, we cannot complete the infrastructure necessary to develop the project.”
Thomas’s Suheil Totah says the city has promised to pursue $100 million in state funds for the Railyards. Councilman Ray Trethaway says the city will live up to that promise in future years. He says the city’s downtown development effort would get a bigger boost if this year’s money goes to Township 9.
Trethaway: “The Railyards and Township 9, a couple other projects in the River District downtown – they’re all in this together. One benefits, the other benefits.”
The state will award both grants by early summer.