State officials ruled that the City of Sacramento did not meet deadlines for financing the K Street revitalization project, including improperly allocating redevelopment funds. The city disagreed and will sue to overturn the decision.
Several months ago, a project to revitalize the long blighted 700 block of K Street in downtown Sacramento was about to start. Unfortunately, a State Department of Finance decision in June regarding unmet financing deadlines meant the project couldn't move forward. That decision was recently upheld, and the city will sue to have the decision reversed.
The $48 million public/private partnership project; which included housing, boutiques, restaurants and a live music hall; required many different funding sources including the handing over of several city-owned properties and other redevelopment subsidies to the developer. One major disputed issue is whether the City properly secured the project's funding plan and appropriately extended the developer agreement.
“The state is not looking for ways to help cities transition from the days of redevelopment to post-redevelopment,” [City Manager John Shirey] said. “They’re looking to penalize and grab money anywhere they can, and it doesn’t matter that the project is in the state capital in the shadow of the Capitol.”
FULL STORY: K Street Project Threatened as State Withholds Redevelopment Money
Sacramento's Tale of Two Downtowns
Northern California is no stranger to debates about redevelopment, displacement, and the proper mix of affordable and market-rate housing—but this time the setting for these stories is in the state capital of Sacramento.
An Unexpected Turn for California's New State Population Report
Population data released May 1 by the Department of Finance reveals the Golden State's lowest population growth rate on record, at 0.47 percent.
California Population Grows to 39,810,000 in 2017
California added 309,000 residents last year, an 8 percent drop compared to annual increases since 2010. The state added a net 85,000 housing units, accounting for losses to wildfires.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Median Home Prices Top $1 Million in Over 200 California Towns
Towns once known for their affordability are seeing sharply rising home prices.
LA County Receives Reconnecting Communities Grants
Seven grant awards totaling $162 million will be used for planning, capital projects, and regional partnerships to reduce environmental harm and improve access in disadvantaged communities.
Seine Pollution Could Hinder Olympic Swim Events
Events like the triathlon could be impacted if tests continue to reveal high levels of dangerous bacteria in Paris’ famous river.
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