Overview
- State legislators have proposed earmarking $125 million from the voter-approved Proposition 4 climate bond through bills led by Sen. Jesse Arreguín and placed in budget legislation to help buy the 161–162 acre Golden Gate Fields site.
- The Trust for Public Land agreed to buy the former racetrack and had about $20 million saved when it entered the deal, and the East Bay Regional Park District has pledged $20 million toward the $175 million price.
- If the $125 million is approved there would still be roughly a $30 million shortfall that TPL and EBRPD must fill by early 2027 for a likely spring 2027 closing on the sale.
- Some environmental advocates and lawmakers warn that using a large block of Prop 4 for a single acquisition would shrink funds available for competitive grants and tribal or community projects, and Albany officials say nonprofit ownership could cut local tax revenues.
- If the purchase closes, the land would be transferred to the East Bay Regional Park District for multi-year public planning from 2027 to 2029 and phased park construction after 2029 with additional costs for cleanup, restoration and access improvements to follow.