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June 2013 - Vol. 5 - Issue #6
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 In this issue...
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Developer Eyes Upscale Retail Outlets for Elk Grove
Delayed by the effects of a global economic downturn several years ago, the developers of the long-awaited Elk Grove Promenade Mall are now envisioning the project as "The Outlet Collection at Elk Grove" that will boast a variety of "...upscale outlets for the Central Valley."
Ideally positioned with excellent access and visibility along busy Highway 99 with 150,000+ vehicles driving past the property daily, property owner--the Howard Hughes Corp.--describes The Outlet Collection at Elk Grove as having an "...open-air feel that will embrace California's lifestyle with modern, eclectic architecture, glass and native materials" and goes on to note:
- Elk Grove is the fastest growing city in the Sacramento region and the fourth fastest growing city in California for communities under 300,000.
- The trade area consists of over 3.9 million customers within a 50-mile radius.
- Elk Grove is an untapped outlet retail sales opportunity with $2.6 billion annual in sales leakage.
- Given the close proximity to the state capital and a major north-south thoroughfare, tourism plays an important part of the potential customer base.
- In 2011 the city and county accepted the Major Roads Improvement Project; other key milestones include the extension of the building permits and development agreement.
The property is located just minutes away from downtown Sacramento in one of the region's fastest-growing suburban areas. With minimal retail outlet and shopping mall competition, the 571,757sf center will serve as the primary retail destination in this part of the region.
Elk Grove has seen an increase in high-quality, big name national retailers expanding business into the city over the past couple of years including Fresh Market, Stein Mart, DSW/Designer Shoe Warehouse, Burlington Coat Factory, buybuy Baby, Carters, and The Children's Place.
"As we're coming out of this economic downturn, it's encouraging that the property owner is actively working to attract tenants to the Promenade under the new plan of opening the location as a high-end outlet mall," said Mayor Gary Davis. The company is looking to open the outlet mall in the fall of 2015.
For more information, contact the EGEDC at (916) 691-3895, or send an email to info@elkgroveedc.org.
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New City Policy Supports Economic Development in Industrial Areas
In another move to improve customer service and support local businesses, the City of Elk Grove recently adopted a new policy to promote economic development in Elk Grove's industrial areas.
The new City policy was recently adopted to expedite the permitting process and reduce fees for businesses moving into Elk Grove's industrial spaces within in the city limits. Under the new policy, businesses moving into existing industrial spaces will no longer have to obtain a new building permit, as long as the previous owner had the required permits for the space and no additional construction work is required. The policy also allows for a Certificate of Occupancy to be transferred to similar businesses in industrial areas on spaces less than 3,000 square feet. The new policy will reduce fees and ensure an efficient transition into a new space.
In most cases, a transfer of business licenses can take place in just one day. Local businesses are encouraged to take advantage of the City Building Department's "Tenant Improvement Tuesdays" program that allows applicants to meet one-on-one with City of Elk Grove and CSD Fire staff to process building permits. For more information visit www.elkgrovecity.org/building-permits or contact Sarah Sandoval at ssandoval@elkgrovecity.org or 916-478-3629.
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Elk Grove City Council Approves $164 Million Balanced Budget
The Elk Grove City Council unanimously approved a $164 million budget for the 2013-2014 fiscal year with a substantial general fund reserve of $14.9 million. The spending plan approved earlier this month maintains the current level of service to the residents of Elk Grove and includes a focused effort on public safety and economic development.
"The City of Elk Grove's balanced budget represents the City's commitment to fiduciary responsibility and prudent strategic planning," said Mayor Gary Davis. "We have weathered a very difficult storm while remaining laser-focused on our fundamental priorities. Our fiscal prudence has paid off and has resulted in a healthy, balanced budget that allows us to provide top-notch service to the community."
The budget reflects stabilization of the City's major revenue sources, with promising growth projected for sales taxes. The plan implements a cautious spending approach, in part because of anticipated future increases in labor costs. The budget incorporates community input received through a series of budget town hall meetings held earlier this year.
The Council also approved a $38 million capital improvement program for the upcoming fiscal year which includes funding for various construction projects in the City including the widening of Grant Line Road from Waterman Road to Bradshaw Road, the future aquatics complex, land for a soccer complex, a special waste collection facility, and significant improvements to the Elk Grove Blvd. at State Route 99 Interchange.
The City of Elk Grove FY 2013-14 budget is available online at www.elkgrovecity.org.
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2013 Small Business of the Year: Elk Grove's Encore! Studio of Performing Arts
Assembly member Richard Pan Selects Business for Community, Youth Involvement
Dr. Richard Pan (D-Sacramento) and the California Small Business Association have selected Encore! Studio of Performing Arts and owner Lisa Brown as the 2013 Small Business of the Year for the 9th Assembly District.
"Lisa Brown is a great example of how business owners can engage their community in creative, positive ways," Dr. Pan said. "Encore! Studio of Performing Arts not only teaches young dancers, they encourage students to actively participate in the community," Dr. Pan said. "Lisa's students support the American Cancer Society Relay 4 Life annually and other events, taking the first steps toward a lifetime of volunteerism."
Over the course of her career, Brown estimates she has had more than 35,000 students. Classes offered at Encore! include ballet, jazz, hip hop, and tap dancing.
"I find it very important for our youth to be involved in our community, so we take time to express it through our dance," stated Brown.
The California Small Business Association hosts Small Business Day annually at the Capitol, and each state lawmaker selects one business a year to honor from their respective districts.
Contact the EGEDC for more information at (916) 691-3895, or send an email to info@elkgroveedc.org.
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Featured Property: Office Space for Lease
9370 W. Stockton Blvd., Elk Grove
Offered by TRI Commercial
Property highlights:- Available suites: Suite 100 - ±4,500sf; Suite 110 - ±1,778sf
- Spaces can be combined for ±6,278 SF
- Lease rate: $1.50/sf/mo; mod. gross
- Tenant pays own utilities/landlord pays janitorial
- Freeway visible and signage on Hwy. 99
- Located near City Hall
- Ready for immediate tenant occupancy
For more information on this property, contact the EGEDC at (916) 691-3895, or send an email to info@elkgroveedc.org.
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Find Available Commercial Property at ElkGroveSiteSearch.com
View Elk Grove's extensive commercial property listings along with size, use, cost and development incentives at ElkGroveSiteSearch.com. Corresponding demographic and statistical reports such as labor force, education levels, community profiles, and consumer spending and age can also be created. Businesses are mapped by industry showing their distribution and concentrations throughout the area. For more information contact the EGEDC at info@elkgroveedc.org.
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News from the EGEDC
Elk Grove Slashes Homebuilder Fees
The City of Elk Grove has eliminated the 97 cents/sf affordable housing fee that developers of office facilities have had to pay that funded a city program seeking housing for low-income residents. The fee, however, will remain unchanged and still be charged for commercial/retail, hotel, manufacturing and warehouses, and range from 46 cents to $1.36/sf. Residential impact fees for future homes were also reduced. For more information, contact the EGEDC at info@elkgroveedc.org.
Program Expedites Small Business Building Permits
The City of Elk Grove's new personalized service, "T.I. Tuesdays," expedites building permits for small businesses and allows applicants to meet one-on-one with staff to process smaller tenant improvement building permits. In most cases the permit can be issued at the counter the same day. For details call 916-478-2235 or visit: www.elkgrovecity.org/building-permits.
Download EG's Small Business Start-Up Guide
Free Consulting From the Small Business Development Center!
The Small Business Development Center provides free business consultation to Elk Grove's existing and emerging businesses. An SBDC consultant is available at the beginning of each month in the same office space as the Chamber and the EGEDC. Free and low-cost workshops are also available. Send an email to info@elkgroveedc.org for more information.
Business License Report Online--See Who Else Has "Opened Up to Elk Grove"
Click here for the City of Elk Grove's latest online monthly new business license report! Online Plan Reviews StreamlinedA convenient web-based electronic plan submission, review and tracking system is available on the City of Elk Grove's website that allows building permit customers to manage a plan review, upload files and track the status of a project review. For more information on news items, contact the EGEDC at (916) 691-3895, or send an email to info@elkgroveedc.org. |
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 Elk Grove Quick Facts
Population: 156,958
Labor Force: 82,186
Households: 43,902
Median Household Income: $81,618
Per Capita Income: $33,500
Median Age: 33.5
Educational Attainment: 73% attended or graduated college
Click here for more information!
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Contact the EGEDC
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