SACRAMENTO, CA-The newly formed city of Elk Grove gets a $4.15 million financing package for the League of California Cities that will help build the new city hall.

The CaLease program allows the city to make lease payments toward the purchase of the new building. In 15 years the City of Elk Grove will own City Hall. The new 25,000 sf building sits on about 2 acres on Laguna Palms Way in Elk grove.

The California Statewide Communities Development Authority, a public joint powers authority, offers the lease management program used to finance the project. The League of California cities and the California State Association of Counties sponsor the authority. The program provides low-cost, tax-exempt financing for projects that create jobs, help communities prosper and improve the quality of life in the state.

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