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Inclusive Economic Development Resources

Current Actions - Inclusive Economic Development

Inclusive Economic Development Resources

Current Actions - Inclusive Economic Development

Current activities

In October 2018, following the findings of Project Prosper and the Brooking Institution’s work on the Region’s Prosperity Plan, the City Council adopted a framework that defined several components necessary to produce and implement a comprehensive strategy, including establishing: 1) a set of key inclusive guiding principles; 2) an investment committee; 3) a set of draft quality of life indicators; and 4) a draft criteria and performance metrics system. The following activities are currently underway to implement this framework:

Inclusive economic development strategy and action Plan

In April 2019, the City engaged a team of national and local economic development experts, led by RW Ventures, LLC (RWV), to develop an Inclusive Economic Development Strategy and Action Plan. Building from a deep analysis of the Sacramento region’s economy, this project will engage stakeholders in creating an action agenda that establishes an overall vision and economic development framework, aligns existing work, and specifies synergistic growth strategies and initiatives. RWV’s work is broken into five specific tasks: 1) Project Organizing and Management 2) Market Analysis (regional and neighborhood levels 3) Strategy Development and Refinement 4) Initiative Concept Development 5) Project Documentation and Identification of Next Steps. The Strategy and Action Plan will move the City and its partners to implementation of transformative economic growth projects that align with a comprehensive framework for sustained growth.

Neighborhood capacity building

In partnership with the Sierra Health Foundation Center for Health Program Management (The Center), the City is exploring neighborhood capacity building towards workforce development opportunities. Additionally, this work will implement a framework to engage the community in selecting and supporting neighborhood-based infrastructure and/or place-based neighborhood economic and social development projects. A special focus will be placed on building non-profit capacity and the implementation of a strategic plan to better leverage and utilize neighborhood facilities.

Using a collective impact approach, the Center will leverage it resource development and capacity building acumen to work in communities and neighborhoods that have historically been denied access to high-quality services. The Center will deliver tangible results by helping participating nonprofits to: 1) maximize the social and economic impact of the identified community economic development projects; 2) manage project development and construction negotiations and cost; secure employment opportunities for neighborhood residents; 3) develop capacity to provide pre-employment and employment services; and 4) explore the feasibility of launching social enterprises to employ hard to serve populations. These efforts will help build a bridge for the City to participate in more, sustainable, comprehensive and effective community engagement.

Business capacity building

In partnership with the Sacramento Asian Pacific Chamber of Commerce (SACC), the City is exploring how to provide small business and urban core capacity building, with a special focus on commercial corridors and minority and women owned businesses. Using a collective impact approach, SACC is leading coordination for the Sacramento Inclusive Economic Development Collaborative (SacIEDC). The SacIEDC is a coalition of local Chambers, Property Based Improvement Districts (PBIDs), non-profit organizations, funding institutions, and private corporations focused on ensuring all businesses are able to take full advantage of the economic opportunities Sacramento has to offer. The SacIEDC will also support The Center’s implementation of a framework to engage the community in selecting and supporting neighborhood-based infrastructure and/or place-based neighborhood economic and social development projects. These efforts will help build a bridge for the City to participate in more sustainable, comprehensive and effective community and business engagement.

Affordable Housing Trust Fund Framework

On January 28, 2020, the Sacramento City Council adopted an Affordable Housing Trust Fund Framework. With the framework, the City Council unanimously agreed to take steps towards issuing a city housing bond for investment into local affordable housing development, including allocations towards extremely low, very low, and low/median income housing, and efficiency housing units that cost $100,000 or less in total government subsidy. The Framework also includes priority policies of funding preferences for projects that: are shovel-ready, have the lowest cost per unit, demonstrate collaboration, leverage other resources and funds (state, federal, private, etc.), invest in catalyst sites on major corridors and focused neighborhoods, use local construction labor force, further community equity and community health, and utilize innovation and replicable self-sustaining models.

Sacramento Affordable Housing Trust Fund Framework

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