Sacramento — Tax District Referndum
The Sacramento Bee reports that owners of 350 large properties will be asked in a referendum in May to tax themselves to generate $2 million annually to cover operating costs of the proposed streetcar.
This will be the second attempt in three years by the city to obtains downtown support to close the funding gap for the proposed line.
The cities of Sacramento and West Sacramento ten years ago proposed the 4-mile streetcar line as an economic development tool and to provide better mobility for people living, working, or visiting the two downtowns. The project costs have escalated to the currently envisioned $200 million.
The prior referendum included all properties within three blocks of the streetcar route and was rejected. The new attempt focuses on larger properties and exempts residential properties of any size.
The FTA has designated $75 million for the project, but the approval is not final until the local match is found. The project plans to ask for the federal commitment to be increased to $100 million.