Elk Grove's finance plans for Sacramento Zoo relocation to be detailed in Zoom meeting
https://www.elkgrovenews.net/2024/04/finance-plans-for-sacramento-zoo.html
The most important aspect of the relocation of the Sacramento Zoo to Elk Grove is how the project will be financed. This Wednesday evening, the city will unveil details during a Zoom meeting.
The meeting, scheduled to start at 6 p.m., is said to provide the public with more details on the multi-phase project that will move the zoo from its Sacramento Land Park site to a 60-plus acre site in the southern portion of Elk Grove. The first phase is projected to cost about $302 million.
Among the critical financing features already revealed include a $50 million commitment from the Sacramento Zoological Society, the current operator of the Sacramento Zoo. Elk Grove officials have also implied they will receive a $20 million grant from the University of California-Davis veterinarian school and $10 million from the Sacramento Municipal Utility District.
Construction will be financed with an additional $114 million in revenue bonds the city will issue and guarantee, along with $93 million from Elk Grove taxpayers. As the issuing agency, Elk Grove will be responsible for all interest payments should the SZS not be able to cover its portion.
As noted, the zoo's construction will be completed in phases. The cost of the later stages has not been revealed.
Elk Grove Mayor Bobbie Singh-Allen and the city council will approve the relocation project at one of their regular meetings this spring or early summer. Those meeting will be held on May 8, 22, June 12 and 26.
Advance registration is required.
Image by Monstera Production via Pexels.
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3 comments
Why is this a zoom meeting and not a live public meeting?
Funny, I doubt it will be a traditional Zoom meeting; I bet it will be "conference" style, meaning there will be no chance to speak!
It's a done deal. The fat lady has sung!
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