West Sacramento council approves application to I‑Bank to fill $32M Bridal Park gap; staff and residents press for timeline

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 later. Several residents urged the council to move money to the park and press staff to finalize timelines.

What staff told council

- Loan terms and payment estimates: Staff said I‑Bank loans previously approved in the region showed interest rates near 4.1% and used that figure for rough amortization estimates. Under a 30-year amortization, a $40 million draw would yield total annual debt service near $2.5 million; a $60 million draw would be closer to $4 million annually, depending on the rate at loan closing.

- Use of proceeds and reimbursement: The resolution allows the city to apply for financing and to declare intent to reimburse certain project expenditures from loan proceeds. Staff said the measure gives the city a longer reimbursement window for eligible expenses. Staff emphasized the loan can function like a line of credit: the city pays only on the amount it ultimately draws.

- Repayment source: Staff said the most likely repayment source would be Measure N revenues (the local sales-tax–derived fund used for community improvements) though the application lists a general-fund pledge; exact repayment decisions would be made later by council.

Council and public reaction

Residents who spoke urged the council to proceed quickly. Laurie Gutierrez and Rhonda Pope Flores said the park has been promised to neighborhoods for years and urged the council to secure funding and move to construction. Council members asked for details about interest-rate assumptions, term length and the project schedule; staff said the city is at about 80% design and aims for a November 2025 construction start contingent on land acquisition and funding.

Outcome and next steps

The council approved the resolution by roll call (ayes recorded). Staff said they will continue to pursue grant opportunities and return to council with refined financing and phasing options. The council did not commit to a final loan amount at this meeting; staff recommended applying for a larger loan ceiling to preserve flexibility if other funding sources fall through.

Votes and figures mentioned

- Estimated project cost: ~$60,000,000 (staff estimate) - Secured grant funds cited by staff: about $25,000,000 - Estimated local funding gap cited by staff: ~$32,000,000 - Example I‑Bank rate mentioned by staff: ~4.1% (September example used for illustration) - Example annual payments (30-year amortization): roughly $2.5M/year for $40M; roughly $4M/year for $60M (rates and payments subject to market conditions at issuance).