Tuesday, May 12, 2009

Prop. 1C Applications Totaling $112 Million

SACRAMENTO (OBSNews.com) – In an effort to further jump start the local Sacramento economy, the City of Sacramento, in conjunction with other agency partners and area developers, today submitted applications totaling more than $112 million to the State of California's Proposition 1C (Prop. 1C) Infill and Transit Oriented Development Housing Programs. These applications for eight new mixed-use and transit-oriented development projects will provide a needed boost to the local economy, will create sustainable transit-friendly development envisioned in the City*s recently adopted 2030General Plan and the SACOG's Blueprint, and support housing development for low-income families. The City will continue to aggressively seek State and Federal funding to bring development projects and jobs to Sacramento.

"Putting Sacramento back to work and spurring economic development is our top priority, and securing these funds will go a long way to making that happen," said Mayor Kevin Johnson. "This is a proactive step towards investing in infrastructure to help create a successful future for Sacramento.

Expected to be awarded by June 30, project applicants for the second round of Prop1C will create vibrant new mixed income communities with a range of housing prices and affordable rents. Specific projects that could receive the grant funding include: The Railyards; Township 9; Station 65; Crystal Ice Blocks; Capitol Lofts; La Valentina; Curtis Park Village; and the 7th & H Street project.

If awarded funding, these grants will help cover the cost of new infrastructure that will support these new developments, create thousands of new short-term construction jobs as well as new permanent jobs in the region, and will help the City realize the vision of creating development to promote a new model of smart growth in the region.

In 2006 California voters approved Proposition 1C which launched several new programs that provide funding for infrastructure that supports residential and mixed-use infill development including affordable housing. In 2008, projects in Sacramento, including the Railyards, Township 9 in the River District and Broadway Lofts at 19th and Broadway, successfully secured more than $70 million of Proposition 1C funding. This year $197 million is available statewide through the Infill Infrastructure Grant Program and an additional $95 million is available through the Transit Oriented Development Housing Program.


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