City Shouldn't Subsidize McKinley Village Tunnel

05/01/2014 12:05 PM

05/03/2014 7:16 AM

Re "City might help build McKinley Village tunnel" (Our Region, May 1): Councilmember Steve Hansen's proposal for Sacramento, and not the for-profit developer, to pay for infrastructure that is necessary to accommodate the project is ill-conceived, bad public policy. It's a throwback to "Redevelopment," which died with the 2012 California Supreme Court decision.

Hansen seems intent of resurrecting it by providing free public money that benefits only Phil Angelides' project. If the project economics won't support its infrastructure costs, it shouldn't be built.

Hansen and Angelides seem to have forgotten about Mello-Roos bonds, where the future McKinley Park Village homeowners could finance the cost of the tunnel with bond proceeds that would be paid back by them over time and not by the general public. Which project sponsor besides the Kings is next in line to seek public funds for their project costs?

-- Gregory Ptucha, Sacramento

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