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Old Posted Jan 24, 2008, 5:26 AM
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The City of Trees
 
Join Date: Mar 2005
Location: Sacramento
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Council OKs Greenbriar annexation
by Michael Shaw Staff writer Sacramento Business Journal -
Wednesday, January 23, 2008 - 12:04 PM PST


The Sacramento City Council on Tuesday night gave conditional approval to annexing Natomas land despite a recent designation by the federal government that the area is a flood zone. The land is the site for Greenbriar, a 577-acre proposal by Angelo K. Tsakopoulos' AKT Development Corp. and Woodside Homes for a transit-oriented development to the northern city limits. The developers don't plan to build there until the flood issues are addressed.

The council voted unanimously to approve the annexation, though Mayor Heather Fargo was absent. The council is expected to formally approve the annexation in a week after two issues are resolved. The city and county still need to formalize their tax exchange agreement, which will determine how tax revenue will be divided in order to provide services for the new development. Environmental groups and Natomas residents had objected to the annexation.

The city must also override land use that would preclude a light rail station within Sacramento Airport's overflight zone.
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