In This Issue
City's Economic Development Prepares Locally for Economic Recovery
City Collaborates with Local Jurisdictions on Enterprise Zone Renewal
City Breaks Ground on Riverfront Promenade
Entertainment Complex on K Street Gets Green Light
Greyhound Approved to Move
Streetscape Project Gets Underway
City's Economic Development Prepares Locally for Economic Recovery Plan

As part of Economic Development's efforts to assist local businesses and attract targeted industries during this tough economic time, staff is bolstering its business retention, expansion and attraction programs through increased outreach and continued partnerships with area partners.  Efforts over the next year include:

  • Working with the Sacramento Area Commerce and Trade Organization to increase business recruitment and expansion activities among targeted industries.  The goal is to generate nearly 1,000 jobs over the next year.
  • Increasing business retention outreach efforts by contacting more than 100 key companies locally to deliver business assistance programs.
  • Collaborating with Sacramento County and the City of Rancho Cordova to obtain a larger Enterprise Zone designation, which will increase the number of companies eligible to take advantage of special tax benefits.
For more information on any of these efforts, visit Economic Development's Web page.

City Collaborates with Local Jurisdictions on Enterprise Zone Renewal Application

The City of Sacramento, along with Sacramento County and the City of Rancho Cordova, is submitting an application to renew and enlarge the state's Enterprise Zone designated area. 

The proposed zone, focusing primarily on industrial/ commercial areas within these jurisdictions, will help to encourage economic expansion and continued investment by offering tax advantages, hiring credits, and other incentives to business that locate within the zone boundaries.  
If approved, the new zone designation will help to:

Stimulate development by providing tax benefits to encourage owners to reinvest in their businesses

Create jobs by helping businesses hire people who may have barriers to employment

Provide an economic development tool to boost California's competitiveness

It's expected that the jurisdictions will know the outcome by mid-summer.
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Mel Rapton Honda Opens New Dazzling Digs

Nearly five years in the making, the City welcomed the Mel Rapton Honda auto dealership, which relocated from Fulton Avenue to the former Sacramento Trapshooting Club near the Haggin Oaks Golf Complex.  The brand new dealership, leaving its previous outdated home of almost half a century, sits on 10-acres of city-owned land opened in early February.

The $23 million dollar public-private investment translates into a lavish 77,000 square foot facility and a service area twice the size of their previous location.
The relocation netted the city with 125 jobs, and will inject more than $900,000 annually in sales tax and lease payments.
City Breaks Ground on Riverfront Promenade 

Spurring development on the Sacramento waterfront, Economic Development broke ground on a $5.4 million project mid February to extend the existing promenade. 

The project furthers recreational opportunities and highlights a natural Sacramento amenity by providing additional public access to the riverfront, which includes:

  • Adding an alternative connection from downtown via R Street
  •  Constructing a 20-foot wide pedestrian and bicycle path that will include benches and landscaping to nearly three quarters of a mile of river frontage
  •  Building an almost half an acre city park at R Street  newly named as Pioneer Landing

This catalyst project  is an initial in realizing the City's vision to develop  30-acres along the Sacramento River waterfront, immediately adjacent to the promenade, into a vibrant mixed used neighborhood. 

More information about the Docks redevelopment can be found here.

Entertainment Complex on K Street Gets Green Light

Sacramento City Council recently gave the green light to move forward with a project to bring a new entertainment complex to 10th and K - an essential development that will add to the existing momentum to eliminate vacant storefronts on the 1000 block and strengthen the area as a regional entertainment district.
The planned project will add three venues on the block, including a dance club for the over 30 crowd, a vintage "dive bar", and a rustic gourmet pizzeria. It's expected that work will begin next month and could be completed by year end.
Once operational, the venues would bring in an estimated $447,000 in annual tax revenue, create more than 100 jobs and attract nearly 4,000 to 5,000 patrons to downtown each week.

Greyhound Approved to Move

The City has entered into a lease with Greyhound to move its downtown terminal, currently on 7th and L streets, to a new bus facility on Richards Boulevard, north of the Railyards.

The new terminal will be located at 420 Richards Blvd. on vacant City-owned property.

greyhoundThe River District location will allow Greyhound to function more efficiently and provides an opportunity for better utilization of the existing downtown site for more intense and compatible uses.

Additionally, a portion of the rent will be reinvested in Downtown, River District and Railyards redevelopment projects. 

Streetscape Project Gets Underway 

The City of Sacramento, Regional Transit and Downtown Sacramento Partnership officially broke ground on the first phase of the K Street Streetscape project late February. 

The $4 million dollar effort will include improvements to the 700 block of K Street, St. Rose of Lima Park and the east side of 7th Street, between K and L streets.
As the first major renovation of K Street since the late 1980s, the initial phase will focus on three major updates and includes:
  • Streetscape improvements with new and improved design treatments, including consistent paving materials, street furniture, trash receptacles, landscaping, and lighting. 
  • Renovation of St. Rose of Lima Park bringing new hardscape paving, lighting, park furniture and an interactive water feature.
  • Relocation of the existing RT platform station from the 700 block of K Street to the east side of 7th Street, just south of the K-L alley.  The new station will incorporate new lighting and street furniture.
More information can be found at www.kstreetscape.com.