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Record of Proceedings

Aggie Square EIFD Public Financing Authority Special Meeting - January 19, 2021

Aggie Square Enhanced Infrastructure Financing District Public Financing Authority — Tuesday, January 19, 2021
BodySacramento, California
SessionAggie Square Enhanced Infrastructure Financing District Public Financing Authority
DateTuesday, January 19, 2021
StatusFILED
Video Record
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Transcript — Verbatim
0:26

How do I get that jazz channel?

0:31

All right.

0:31

Are we good to go?

0:33

Yes, Chair, your our live streaming.

0:35

Okay, I want to call this meeting uh to order.

0:39

Adam Clerk, if you could call the role to establish the quorum.

0:43

Member Geta.

0:45

Here.

0:46

Member Jennings.

0:47

Here.

0:48

Member Hernandez here.

0:52

May the member Tetherington is not in the Zoom.

0:56

And Chair Shane.

0:58

I'm here.

0:58

Thank you very much.

1:00

We have two things that we're hoping to accomplish today.

1:04

So first of all, thank everyone.

1:05

Thank you, everyone, for being on the uh call and in our Zoom room today.

1:11

Um we want to do an overview of the draft infrastructure financing plan.

1:17

That's item number one.

1:18

And then item number two is to do a bit of a briefing on the community benefits agreement and what is happening.

1:26

I I do want to be clear that this uh board does not have purview over the CBA.

1:33

Um, but I thought, and and after talking with staff that it's important for you to have the context of the bigger picture.

1:43

So as we're making those decisions and as people are calling you, you know what we're doing and what we're responsible for on this board and what we're not doing and not responsible for on this board.

1:54

I thought that would that would be interesting and just good information to have as we go forward.

2:00

So with that, let's go ahead uh with item one, which is the overview of the draft uh IFP.

2:08

And for the record, we have no callers on this item.

2:10

Thank you.

2:12

Good morning, uh esteemed members of the IP Square Public Financing Authority.

2:16

Actually, Leslie, why don't you hang for one second?

2:19

Joni is just ringing in.

2:21

And she is here, Joni.

2:22

We are just starting with item one.

2:24

So you are your timing is perfect.

2:27

Uh Leslie, go ahead.

2:30

Uh good morning, uh, members of the Eggie Square Public Financing Authority Board.

2:35

Um, my name's Leslie Fritchy and serving as staff to to this board at this time.

2:40

And uh today, the first item on the agenda is uh Chair Chinere indicated is uh an review of the draft infrastructure financing plan included in your packet.

2:51

This uh version that is included in your packet is the same version that you saw uh when you met on December the second.

2:59

And so uh Jamie Goyames, who is working with BPS and has produced this infrastructure financing plan, will has a brief uh PowerPoint presentation to walk you through it yet again.

3:11

So uh Jamie.

3:14

Very good morning, thank you, Leslie.

3:16

I appreciate that.

3:17

Uh can everyone see the screen okay?

3:19

Yes.

3:21

Um let's say uh thank you for the introduction.

3:24

Jamie Gomes Economic and Planning Systems.

3:27

So we've been working with the city and the EIFD financing team to prepare the infrastructure financing plan.

3:35

And as you recall, we we gave a brief overview during the December meeting of this public financing authority.

3:42

And so today you want to uh refresh that overview and then and provide you some of the updates that have occurred since that time.

3:50

So as a reminder, the the infrastructure financing plan.

3:54

So I can advance this slide here.

4:11

Okay, so the the infrastructure financing plan accomplishes several objectives.

4:15

It uh identifies a list of facilities and estimated costs of improvements to be funded by the EIFD.

4:22

It will specify the maximum percentage of incremental revenues that will be dedicated to the EIFD and which which revenue specifically will be dedicated.

4:33

It will identify the maximum dollar amount of tax increment revenue available to fund eligible facilities.

4:40

It will describe the financing strategy to pay for the improvements, and we'll also estimate the impacts of the project on the city's general fund when accounting for those revenues being directed to the EIFD.

4:54

So as I mentioned, we're we're working with the city and the financing team to update the infrastructure financing plan of the IFP document.

5:04

And the purpose of today's presentation really is to review the key elements that are in that document, and again, to give you a couple of updates on where things stand.

5:14

So from a financial perspective, that's really the key attributes of the IFP document.

Discussion Breakdown — Share of Meeting
Infrastructure████████████████████████████████████36%
Community Engagement███████████████████████████27%
Workforce Development██████████10%
Public Comments█████████9%
Procedural█████5%
Public Works█████5%
Community Benefits Agreement███3%
Education Policy███3%
Economic Development██2%
Summary of Proceedings

Aggie Square EIFD Public Financing Authority Special Meeting - January 19, 2021

The Aggie Square Enhanced Infrastructure Financing District Public Financing Authority (PFA) held a special teleconference meeting on January 19, 2021, to receive an overview of the draft Infrastructure Financing Plan (IFP) and a briefing on community benefits and engagement efforts for the Aggie Square project. No formal votes were taken; the board received information and provided direction to staff.

Public Comments & Testimony

  • Eric Christen, Executive Director of the Coalition for Fair Employment in Construction, opposed project labor agreements (PLAs), arguing they discriminate against non-union workers and contractors, reduce competition, and waste taxpayer money. He urged the board to reject PLAs.
  • Richard Markison, a District 7 resident, expressed concerns that the community benefits agreement would function as a "union benefits agreement" via a PLA, disenfranchising non-union apprentices and contractors. He urged the city to insist on fair PLA components that do not lock out local workers.
  • Crystal, a member of the public, asked the city to stop displacing people experiencing homelessness, especially during the pandemic, stating that displacement causes loss of resources and can lead to death and mental illness. She said the community does not feel supported by the city.

Discussion Items

Item 1: Overview of the Draft Infrastructure Financing Plan

  • Jamie Gomes of Economic and Planning Systems presented the draft IFP, which identifies eligible infrastructure improvements, revenue sources, and a financing strategy. Key points:
    • The City of Sacramento is the only affected taxing entity participating in the EIFD.
    • Revenues are split into developer-led (80%) and city-led (20%, focused on affordable housing) investments.
    • Developer-led improvements include site development, vertical development (Aggie Square, Market Square, Mobility Plaza, Innovation Hall, parking, transit).
    • Phase one development (by Wexford Science & Technology and UC Davis) is the focus; future phases require future amendments.
    • Developer Wexford will front infrastructure costs; EIFD participation begins when tax revenue is generated (estimated year 4 after formation).
    • EIFD revenues are projected to exceed $2 million annually by 2025 (once phase one is complete), cumulatively reaching approximately $50 million by 2037 and $100 million by 2046.
    • Once $30 million in developer-advanced improvements are reimbursed, remaining revenues are discretionary and subject to future PFA and City Council approval.
    • Fiscal impact analysis shows phase one generating a $188,000 annual general fund surplus, rising to $600,000 at full build-out, partially due to UC Davis providing police services.
  • Board members asked clarifying questions: Councilmember Guerra confirmed the developer fronts costs, addressing community risk concerns. Chair Shane asked about the Oak Park redevelopment debt (annual debt service ~$9-11 million; Oak Park share is less than 5%, running through 2036).

Item 2: Aggie Square Community Benefits and Engagement Discussions

  • Leslie Fritzsche, Economic Investment Manager, presented on community engagement and proposed community benefits:
    • Over 50 community meetings have been held by UC Davis/Wexford; city-sponsored meetings began December 17, 2020.
    • Upcoming public meetings: Jan 20 (workforce), Jan 27 (housing), Feb 3 (transportation).
    • Community feedback themes: job access, career pathways, housing displacement, traffic, parking, alignment with Stockton Boulevard business districts, small business opportunities, ongoing community engagement.
    • Proposed community benefits include: project labor agreement, workforce development programs (partnering with SETA, Asian Resources, Urban League, La Familia), youth STEM programs (K-12), access to space (arts/event space, subsidized startup office space, free drop-in lounge, outdoor markets, Thursday gatherings), a community fund from rent surcharges, transportation demand management, and affordable housing (50% of EIFD revenues set aside for housing in nearby areas).
    • Staff will continue negotiations and aim for City Council approval of the IFP, UC Davis Community Benefit Plan, and community benefits agreement in the second quarter of 2021.
  • Board comments: Councilmember Jennings asked about meeting attendance (approximately 100 at last meeting, but noted attendance could be improved) and recommended broader outreach to schools, churches, and social groups in Oak Park, and including telephone numbers in communications for older residents. Councilmember Guerra emphasized the importance of creating a clear STEM pipeline from local schools to careers and jobs, and suggested exploring the West Oakland Jobs Resource Center model. Chair Shane reiterated that the PFA does not have purview over the community benefits agreement.

Key Outcomes

  • The board received and filed information on the draft Infrastructure Financing Plan and the community benefits and engagement update.
  • Staff were directed to increase outreach efforts, including better communication methods (phone numbers) and engaging schools, churches, and community groups.
  • No votes or formal decisions were taken; the next PFA meeting is scheduled for February 2, 2021.

Meeting Transcript

How do I get that jazz channel? All right. Are we good to go? Yes, Chair, your our live streaming. Okay, I want to call this meeting uh to order. Adam Clerk, if you could call the role to establish the quorum. Member Geta. Here. Member Jennings. Here. Member Hernandez here. May the member Tetherington is not in the Zoom. And Chair Shane. I'm here. Thank you very much. We have two things that we're hoping to accomplish today. So first of all, thank everyone. Thank you, everyone, for being on the uh call and in our Zoom room today. Um we want to do an overview of the draft infrastructure financing plan. That's item number one. And then item number two is to do a bit of a briefing on the community benefits agreement and what is happening. I I do want to be clear that this uh board does not have purview over the CBA. Um, but I thought, and and after talking with staff that it's important for you to have the context of the bigger picture. So as we're making those decisions and as people are calling you, you know what we're doing and what we're responsible for on this board and what we're not doing and not responsible for on this board. I thought that would that would be interesting and just good information to have as we go forward. So with that, let's go ahead uh with item one, which is the overview of the draft uh IFP. And for the record, we have no callers on this item. Thank you. Good morning, uh esteemed members of the IP Square Public Financing Authority. Actually, Leslie, why don't you hang for one second? Joni is just ringing in. And she is here, Joni. We are just starting with item one. So you are your timing is perfect. Uh Leslie, go ahead. Uh good morning, uh, members of the Eggie Square Public Financing Authority Board. Um, my name's Leslie Fritchy and serving as staff to to this board at this time. And uh today, the first item on the agenda is uh Chair Chinere indicated is uh an review of the draft infrastructure financing plan included in your packet. This uh version that is included in your packet is the same version that you saw uh when you met on December the second. And so uh Jamie Goyames, who is working with BPS and has produced this infrastructure financing plan, will has a brief uh PowerPoint presentation to walk you through it yet again. So uh Jamie. Very good morning, thank you, Leslie. I appreciate that. Uh can everyone see the screen okay? Yes. Um let's say uh thank you for the introduction. Jamie Gomes Economic and Planning Systems. So we've been working with the city and the EIFD financing team to prepare the infrastructure financing plan. And as you recall, we we gave a brief overview during the December meeting of this public financing authority. And so today you want to uh refresh that overview and then and provide you some of the updates that have occurred since that time.

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