California lawmakers have reached an agreement to redirect up to $125 million in climate bond funding toward purchasing Golden Gate Fields, the shuttered 161-acre horse racing venue along the East Bay shoreline, with plans to convert the property into a new public park championed by Gov. Gavin Newsom.
The money would come out of Proposition 4, the $10 billion climate bond voters approved to fund efforts such as wildfire prevention, drinking water improvements and land conservation. That has raised objections from some environmental groups and legislators, who warn that pulling such a large sum for one project could shortchange other conservation efforts competing for the same pool of money.
Golden Gate Fields shut its gates in 2024, ending an 83-year run as horse racing lost popularity statewide. The Canadian firm that owns the property, The Stronach Group, has been in talks over its future ever since. In March, the nonprofit Trust for Public Land announced plans to raise $175 million to purchase the site, hand it over to the East Bay Regional Park District, and reimagine it as a waterfront park open to the public.
The proposal quickly won backing from local leaders and state legislators who represent the area, who view it as a rare chance to restore natural shoreline habitat, create new recreational space, and bring investment to nearby communities that have historically lacked access to such amenities. The property sits just west of Interstate 80 in Berkeley, adjacent to public beaches, with the city itself on the other side of the freeway.
“This is a major victory for our region,” Sen. Jesse Arreguín, D-Berkeley, said when the effort was first announced in the spring.
By May, Newsom had thrown his weight behind the idea, proposing in his revised budget that the state cover the bulk of the purchase price. Under the plan, the East Bay Regional Park District would contribute $20 million, and the Trust for Public Land would raise an additional $30 million, with the state stepping in to cover the remainder.
“This acquisition is a once-in-a-century opportunity to repurpose a former horse racing track into an iconic shoreline park and recreational hub, which will restore nature and expand open space and Bayshore access for millions of Bay Area residents,” Newsom’s budget proposal states.
That funding commitment is now folded into Assembly Bill/Senate Bill 113, which lawmakers are expected to pass by Tuesday. The bill includes a provision that would reduce the state’s contribution below $125 million if the nonprofit and park district manage to raise more than $50 million on their own by year’s end.
Still, not everyone in Sacramento is on board. Sen. Eloise Gomez-Reyes, a San Bernardino Democrat who chairs the Senate’s budget subcommittee on natural resources, said she worries the large expenditure could crowd out other pressing needs funded through the same bond measure.
“The problem is, $125 million out of Prop. 4 is a lot of money,” Gomez-Reyes said in a recent interview. “Trying to find the best way to take care of the needs of Californians is not always the easiest thing.”
Annie Burke, executive director of the conservation coalition TOGETHER Bay Area, raised similar concerns in testimony to lawmakers earlier this year, warning that the Golden Gate Fields deal could siphon resources away from the competitive grant program the bond funds were meant to support.
“It’s critical that we invest in smaller projects which are capably led by Native American Tribes, Native-led organizations, community-based organizations, and many others,” Burke wrote in a letter to legislators.
Original source: CalMatters
