California lawmakers will provide up to $125 million to help purchase and redevelop the defunct Golden Gate Fields in the San Francisco area, according to a report by CalMatters.
Golden Gate Fields, owned by The Stronach Group since 1999, held its final live races on June 9, 2024. In March, the Trust for Public Land announced plans to raise $175 million to acquire the property, transfer it to the East Bay Regional Park District, and transform the former racetrack into a publicly accessible waterfront park.
The state funding will come from a voter-approved proposition that dedicates $10 billion to climate projects. In Governor Gavin Newsom’s May budget, it was announced that the East Bay Regional Park District pledged $20 million towards the acquisition, and the nonprofit Trust for Public Land is expected to raise $30 million…