Elk Grove News Minute - Don’t be surprised by some outlandish Elk Grove Zoo funding scheme
https://www.elkgrovenews.net/2025/03/outlandish-Elk-Grove-Zoo-funding-scheme.html
Before construction starts on the $300 million Elk Grove-Sacramento Zoo, the Sacramento Zoological Society must have $50 million in cold, hard cash.
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If the city council stands by their word, then it’s highly unlikely this zoo will ever be built. The zoological society will never come up with $50M. Mayor Singh-Allen will have moved on from her humble mayoral beginnings and the new “brain trust” in EG won’t want to burden generations of taxpayers with taxes to pay for the money pit zoo project. At least that’s this taxpayers hope.
The scheme won't even have to be that outlandish. When the City floats its bond, it could just add in the amount the Great Zoo Society is short--previous staff reports even admitted that. The report went on to state that the Society would then be financially responsible for their portion of the debt payment.
So, the bond is issued in the City's name, backed by the General Fund as collateral, and the Great Zoo Society buys their portion of the zoo with an IOU to the City! Then the icing on the cake is the City is telling us that the Society will cover their annual operating and maintenance costs. Just how gullible do they think we are?
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