Local

Sacramento city leaders approve $50 million Aggie Square commitment to affordable housing

Sacramento, Calif. (KTXL) – The Sacramento City Council has approved a proposed $ 50 million plan to build an affordable home in Oak Park near Aggy Square at the University of California, Davis.

The University of California, Davis expansion project will begin along Second Avenue and Stockton Boulevard when construction begins later this year.

Barry Bloom, President and Chief Executive Officer of the Greater Sacramento Economic Council, said:

Bloom says the investment will bring world-class science and corporate partnerships, thousands of jobs and over $ 2.5 billion in economic benefits to the region.

“You’ll see world-renowned companies around the world take up space in their place and work with our medical school, healthcare system, and the University of California, Davis as a whole to solve long-term health. “Care issues,” he told FOX40.

However, the proposed plan was subject to backlash, and people living in Oak Park expressed concern that the investment would price them from the area.

As a result, a neighborhood group, Sacramento Investment With Out Displacement, filed a lawsuit against the University of California, Davis and the city last year.

In response, the Sacramento City Council voted 7-2 on Tuesday, investing $ 50 million in what leaders call a community interests agreement and building affordable homes along the Corridor of Stockton Boulevard. Did.

According to Mayor Darrell Steinberg, the proceedings were subsequently withdrawn, paving the way for the creation of Aggie Square.

“Aggy Square itself shows that we are not separated from the community, from its design to the way we live in the community,” says Steinberg.

Prime Minister Gary S. May of the University of California, Davis praised the writing of the multi-party contract. “This is employment, workforce development, housing, industry, and students, faculty, staff.”

And Bloom predicts that when it opens, everyone in the region will feel an economic boost.

“Everyone in the neighborhood will increase their income,” Bloom said. “The whole community is changing for the better.”

Sacramento city leaders approve $50 million Aggie Square commitment to affordable housing Source link Sacramento city leaders approve $50 million Aggie Square commitment to affordable housing

Related Articles

Back to top button