ELK GROVE, Calif. — The proposed new zoo in Elk Grove is entering its final stages of review, and city officials recently released a financing plan showing estimated total costs of around $302 million.
Elk Grove planning commissioners are set to review the financing plan April 4 with staff recommending they pass the plan to city councilmembers for approval.
City officials published the proposed financing plan last week to the city's website.
The plan shows financing is expected to cost around $302 million for the first two phases of a four-phase project:
- Phase 1: Constructing the Green Corridor and Africa zones, including the base Zoo footprint
- Phase 2: Construction of the California zone with exhibits, restrooms, overnight accommodations and more buildings
- Phase 3: Construction of a permanent administrative office
- Phase 4: Construction of the Australasia zone
Elk Grove city officials say the project is being done in phases to make sure the city can secure outside funding for the proposed zoo's development.
According to the financing plan, proposed funding for the project could come from four different outlets, including:
- Development Impact Fees - $14.8 million
- City Pay-Go (Reserve Funds) - $93 million
- Community Partnerships - $80 million
- Bond Financing - $114.5 million
A virtual community meeting is planned for April 17 at 6 p.m. to discuss the proposed new zoo. Click here to register for the Zoom conference.