Governor Signs Bill Allocating $125 Million to Acquire Golden Gate Fields
Sacramento, CA – Today, Governor Gavin Newsom signed AB 113, which includes $125 million through the Proposition 4 climate bond to acquire the former Golden Gate Fields racetrack in Albany and Berkeley. The property will be purchased by the Trust for Public Land and transferred to the East Bay Regional Park District for use as a future waterfront park.
“For years, our community has fought for a future where Golden Gate Fields belongs to everyone, restoring natural habitats and strengthening coastal resiliency,” said State Senator Jesse Arreguin (D-Oakland). “I am grateful for the Governor’s leadership which will allow us to turn this former racetrack into a world-class waterfront park that all Californians can enjoy for future generations.”
The closure of Golden Gate Fields, announced in 2023 while Senator Arreguín was Mayor of Berkeley, resulted in a multi-year process working with stakeholders to decide the future of the site. In March 2026, the Trust for Public Land announced that it entered into an option agreement with the property owner to purchase the site for the purpose of turning it into a park. The State Legislature approved AB 113 on September 1st.
Next steps include securing additional philanthropic dollars to realize the full sale price and for Trust for Public Land to close on the property. Terms of the option agreement provide that the existing structures will be demolished and the site cleared as part of the sale. Trust for Public Land has announced that it will then transfer ownership of the site to the East Bay Regional Parks District, who will begin a public process with Albany and Berkeley to determine future plans for the site. As a condition of the use of Prop 4 funding, the site must principally be used for parks and open space uses.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
