City Council Vote Advances Sacramento Railyards Development
The Sacramento City Council has taken a major step forward in the long-anticipated Railyards development project. In a recent vote, the Council approved the creation of an enhanced infrastructure financing district (EIFD) for the expansive urban infill site. This move paves the way for critical infrastructure investments and marks significant progress in bringing new energy to downtown Sacramento.
Additionally, the Council unanimously approved measures that will allow construction to begin as early as next month on the long-awaited soccer stadium for Sacramento Republic FC. Plans are also in place to begin work later this year on a live music venue—dubbed Paint Shop—which will be located in one of the existing Railyards shops buildings.
“Is this a good deal for our taxpayers? I say unequivocally yes,” said Sacramento Mayor Kevin McCarty ahead of the vote. “I know it will pencil out, but there’s zero risk to our general fund.”
The formation of the EIFD authorizes the Railyards’ master developer, Downtown Railyard Venture LLC, along with Sacramento Republic FC majority owner Indomitable LLC, to leverage future property tax revenues. These funds will be used to support key infrastructure projects, including installation of utilities and sewer systems vital to the project’s success.
The decision marks a milestone for one of the largest urban infill projects in the country, positioning Sacramento for a vibrant addition to its downtown landscape.
