State agency favors The Railyards for $30M in Proposition 1C funds
The state Department of Housing and Community Development on Friday released its recommendation for the first round of funding under the $850 million Proposition 1C grant program that targets funds for infill projects.
Although the city of Sacramento placed another project as its first priority for these funds, the department is recommending that The Railyards receive the full $30 million it has requested under this program.
Thomas Enterprises Inc., which is trying to redevelop the downtown railyard, applied for the funds on its own behalf.
The competing project, Township 9, a mixed-use project that sits between Richards Bouelvard and the River, is recommended to receive $19.1 million funding only if the Legislature increases the amount of money awarded under this program. A bill to that effect goes before the state Senate Appropriations Committee on Monday.
Also recommended for funding: West Sacramento's Triangle development area, which staff is suggesting should receive $16.7 million under the current funding level and $23 million if the programs is augmented by legislative action cheap payday loans pay day loans.
Three other area projects that applied have not been recommended for funding, but Broadway Lofts, a multi-story condo plan at Broadway and 19th Street, could receive funding under the augmentation scenario.
Those not recommended for funding are:
- The Butterfield Station transit-oriented development, which would replace an existing light rail park-and-ride lot in Rancho Cordova with 90 housing units built over a parking structure with 15,000 square feet of retail and 30,000 square feet of commercial.
- City Center Lofts in Woodland, a mixed-use development.
- An affordable housing project in Davis called New Harmony.
In all, 117 projects were in contention for the funds after staff weeded out those projects that did not qualify. Micha