California taxpayers could soon be on the hook for as much as $125 million to buy a shuttered horse-racing track and turn it into a public park.
Golden Gate Fields closed in 2024. Now Governor Gavin Newsom is backing a plan for the state to provide most of the money needed to acquire the 161-acre Bay Area property.
And here’s where the questions begin.
The money would come from Proposition 4 — the $10 billion climate bond voters approved for projects including wildfire prevention, drinking water and land conservation.
Environmental advocates and even Democratic lawmakers are warning that spending $125 million here could drain money from other climate priorities.
The park district has pledged $20 million, while a nonprofit is expected to raise another $30 million. The state could provide the rest.
Supporters call it a once-in-a-century opportunity to create waterfront parkland.
But after California’s problems with homelessness spending, unemployment fraud and the massive cost overruns surrounding high-speed rail, taxpayers have reason to ask another question: could Golden Gate Fields become California’s next expensive government boondoggle?
This story was compiled with the aid of AI.
