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West Sacramento council approves application to I‑Bank to fill $32M Bridal Park gap; staff and residents press for timeline
Summary
The City Council approved a resolution authorizing an application to the California Infrastructure and Economic Development Bank (I‑Bank) to finance Bridal Park improvements, after staff described a remaining local funding gap of roughly $32 million and estimated repayment scenarios.
The West Sacramento City Council on Wednesday approved a resolution authorizing staff to apply to the California Infrastructure and Economic Development Bank (I‑Bank) for financing to cover local funding shortfalls on the long-planned Bridal Park project.
City staff told the council the total project budget is roughly $60 million and that roughly $25 million in grants has been secured, leaving a local funding gap staff currently estimates at about $32 million. The I‑Bank’s Infrastructure State Revolving Fund (ISRF) can offer loans up to $65 million, staff said, and the city would only draw the amount it needs.
Why it matters: Council members and speakers at the meeting emphasized that Bridal Park has been a long-standing local priority and that accelerated financing could allow construction to proceed sooner rather than…
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