OPENPUBLICA · PUBLIC MEETING RECORD
Record of Proceedings

Aggie Square Public Financing Authority Special Meeting - June 17, 2025

Aggie Square Enhanced Infrastructure Financing District Public Financing Authority — Tuesday, June 17, 2025
BodySacramento, California
SessionAggie Square Enhanced Infrastructure Financing District Public Financing Authority
DateTuesday, June 17, 2025
StatusFILED
Video Record
0:00 / 29:50
Transcript — Verbatim
0:00

I now call this meeting to order of the Aggie Square financing authority at 933 a.m.

0:14

With that, clerk will please call the roll.

0:17

Thank you, Chair.

0:18

Member De La Cruz.

0:20

Present.

0:21

Member Guerra.

0:22

Present.

0:22

Member Jennings is absent.

0:25

And Chair Maple.

0:26

I am here.

0:27

Okay, please join me in the land acknowledgement and the Pledge of Allegiance.

0:33

So please stand if you are able.

0:35

Please rise for the opening acknowledgments in honor of Sacramento's indigenous people and tribal lands.

0:40

To the original people of this land, the Nisanan people, the Southern Maidu, Valley and Plains Miwok,

0:46

Pachua and Wintun peoples, and the people of the Wilton Rancheria, Sacramento's only federally recognized tribe.

0:51

May we acknowledge and honor the native people who came before us and still walk beside us today on these ancestral lands,

0:57

by choosing to gather today in the active practice of acknowledgement and appreciation for Sacramento's indigenous peoples' history,

1:04

contributions, and lives.

1:05

You remain standing.

1:07

Salute and pledge.

1:09

I pledge allegiance to the flag of the United States of America and to the republic for which it stands,

1:15

one nation, under God, indivisible, with liberty and justice for all.

1:20

Wonderful.

1:22

And welcome.

1:23

If anyone would like to submit a public comment on any item on the agenda, you can take a slip from the back,

1:29

fill it out, and bring it up to these wonderful women at the front who will take it and do your public comment.

1:35

Please submit that slip prior to the item starting, otherwise we will not be able to take it.

1:40

So with that, we'll start with the consent calendar.

1:44

We have items one and two.

1:46

Do we have any public comment on this item?

1:48

Thank you, Chair.

1:49

I have no speaker slips on this item.

1:51

Any comments for my colleagues?

1:52

I'll move consent, Madam Chair.

1:53

I have a motion.

1:55

Do I have a second?

1:56

I have a second.

1:56

Okay, I have a motion and a second.

1:58

All those in favor, please say aye.

1:59

Aye.

2:00

All right.

2:00

Any opposed or abstain?

2:01

That passes unanimously.

2:02

Thank you.

2:03

So now we move on to the main item of the agenda, item three.

2:09

Welcome.

2:09

Good morning.

2:12

Good morning.

2:13

Welcome back.

2:14

It's been every year we get to visit with the board.

2:17

I appreciate that.

2:18

And, Isabel, welcome to the PFA board.

2:23

Chair Maple, members of the PFA board of Aggie Square, Sini Mocasini with the finance department.

2:29

The item before you is a public hearing on the annual report of the City of Sacramento Aggie Square Enhanced Infrastructure Financing District.

2:35

Staff is here to conduct a public hearing and upon conclusion pass a motion adopting the fiscal year 2024-25 annual report for Aggie Square EIFD.

2:45

Also adopting the 25-26 revenue and expense budget, both of which were included in your packet.

2:51

The annual report requirements mandated under the EIFD statute have been addressed and shown on pages one and two of the annual report.

2:59

Before we open and close a public hearing, we do have Claire Drummond from the Wexford Development will give us a real-time update on the Aggie Square development.

3:07

And she's doing it remotely.

3:09

Thank you.

Discussion Breakdown — Share of Meeting
Economic Development██████████████████████████████30%
Affordable Housing████████████████████20%
Community Engagement███████████████15%
Engineering And Infrastructure███████████████15%
Indigenous Acknowledgment██████████10%
Public Safety██████████10%
Summary of Proceedings

Aggie Square Public Financing Authority Special Meeting

The Aggie Square Public Financing Authority held a special meeting on June 17, 2025, from 9:30 AM to 10:02 AM at Sacramento City Hall. The meeting focused on operational matters for the Aggie Square Enhanced Infrastructure Financing District (EIFD) and received an exciting update on the newly opened Aggie Square development.

Opening and Introductions

  • Present Members: Chair Caity Maple (District 5), Vice Chair Eric Guerra (District 6), and Member Yzabelle Dela Cruz
  • Absent: Member Rick Jennings (District 7)
  • The meeting began with a land acknowledgement honoring Sacramento's indigenous peoples and the Pledge of Allegiance

Consent Calendar

  • Item 1: Approved minutes from June 25, 2024 meeting
  • Item 2: Authorized Second Amendment to Master Funding Agreement for Aggie Square Project (City Agreement No. 2021-1293)
  • Both items passed unanimously on a single motion

Public Hearing - Aggie Square Development Update

Major Milestone: Aggie Square officially opened on May 2, 2025, with a ribbon cutting ceremony attended by nearly 2,000 people.

Current Development Status:

  • 800,000 rentable square feet completed out of projected 1.1 million total
  • Building 200 (7-story lab space) and Building 300 (8-story Class A office tower) operational
  • Mixed-use residential building fully occupied with furniture and residents
  • Building 100 construction paused pending anchor tenant identification
  • UC Davis anchoring buildings 200 and 300, with veterinary genetics testing facility in Building 400

Community Impact:

  • $33 million in EIFD-eligible infrastructure improvements delivered
  • Over $100 million in total community-facing investments
  • 45 events hosted since opening, bringing 3,000 unique individuals to the space
  • $120,000 invested in local public art through three RFPs featuring four artists
  • Over $100 million spent with local contractors within 10-15 minute drive

Housing Assistance Programs:

  • 700 individuals assisted through housing stabilization programs
  • $10 million total ($5M city, $5M UC Davis) allocated for housing stabilization
  • 1,700 new housing units planned along Stockton Boulevard and Broadway corridors
  • 200-unit Mercy Housing townhome project completed and fully occupied

Key Financial Matters

FY 2024/25 Annual Report and FY 2025/26 Budget: Authority adopted annual report and budget, including amendments to Infrastructure Finance Plan

Water/Sewer Fee Settlement: Approved $720,000 EIFD reimbursement to Wexford Development as compromise solution for $4.2 million in unexpected water and sewer fees (Wexford paying remaining $3.5 million)

EIFD Revenue: Approximately $900,000 received to date, with 20% ($180,000) designated for affordable housing initiatives

Key Outcomes

  • All agenda items passed unanimously
  • Settlement agreement for water/sewer fees to be heard by full City Council in early July 2025
  • Community spaces available for public use through visitaggiesquare.com
  • Ongoing concerns about pedestrian and cyclist safety around construction areas to be addressed collaboratively
  • Request made for comprehensive CBA programming impact report at future PFA meeting

Meeting Transcript

I now call this meeting to order of the Aggie Square financing authority at 933 a.m. With that, clerk will please call the roll. Thank you, Chair. Member De La Cruz. Present. Member Guerra. Present. Member Jennings is absent. And Chair Maple. I am here. Okay, please join me in the land acknowledgement and the Pledge of Allegiance. So please stand if you are able. Please rise for the opening acknowledgments in honor of Sacramento's indigenous people and tribal lands. To the original people of this land, the Nisanan people, the Southern Maidu, Valley and Plains Miwok, Pachua and Wintun peoples, and the people of the Wilton Rancheria, Sacramento's only federally recognized tribe. May we acknowledge and honor the native people who came before us and still walk beside us today on these ancestral lands, by choosing to gather today in the active practice of acknowledgement and appreciation for Sacramento's indigenous peoples' history, contributions, and lives. You remain standing. Salute and pledge. I pledge allegiance to the flag of the United States of America and to the republic for which it stands, one nation, under God, indivisible, with liberty and justice for all. Wonderful. And welcome. If anyone would like to submit a public comment on any item on the agenda, you can take a slip from the back, fill it out, and bring it up to these wonderful women at the front who will take it and do your public comment. Please submit that slip prior to the item starting, otherwise we will not be able to take it. So with that, we'll start with the consent calendar. We have items one and two. Do we have any public comment on this item? Thank you, Chair. I have no speaker slips on this item. Any comments for my colleagues? I'll move consent, Madam Chair. I have a motion. Do I have a second? I have a second. Okay, I have a motion and a second. All those in favor, please say aye. Aye. All right. Any opposed or abstain? That passes unanimously. Thank you. So now we move on to the main item of the agenda, item three. Welcome. Good morning. Good morning. Welcome back. It's been every year we get to visit with the board.

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