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Inclusive Economic Development Resources

Past Actions - Inclusive Economic Development

Inclusive Economic Development Resources

Past Actions - Inclusive Economic Development

February-March 2018: Project Prosper community workshops

In 2017, the City launched Project Prosper to learn best practices regarding how modern metropolitan economies function, diagnose structural strengths and weaknesses of Sacramento’s current economy and its prognosis for the future, and identify ways to improve the City’s economy and quality of life. The City engaged national economic experts, created a broad-based working group of local and regional stakeholders, and held five well-attended community meetings.

Project Prosper Summary
Report Summary of Public Meetings

April 2018: Brookings Report

In parallel to the work of Project Prosper, the City’s regional partners - Sacramento Area Council of Governments (SACOG), Valley Vision, and Greater Sacramento Economic Council (GSEC) - commissioned the work of The Brookings Institution to assess the region's economy. The report, Charting a Course to the Sacramento Region’s Future Economic Prosperity, highlighted a number of troubling trends in the Sacramento region including: 1) the region has ranked in the bottom third of 100 largest MSAs when measuring growth, prosperity, and inclusion; 2) more than a third of the region’s residents struggle to make ends meet and these struggling adults are disproportionately people of color and people with lower levels of education; and 3) employers are demanding workers with higher education and digital skills although Black and Latino workers are underrepresented in medium and high digital skill occupations.

Full Report
Executive Summary
Appendix

July 2018: Policy to promote and inclusive and equitable economic growth

In July 2018, the City Council adopted a resolution (Policy) articulating a series of principles intended to guide the City’s actions and investments in a manner to strengthen people, business, and place capacity to promote inclusive and equitable economic growth and directed the City Manager to research and report back to Council regarding how the City should pursue efforts to develop and implement policies that achieve the vision of Project Prosper for inclusive and equitable growth. The Policy describes the City’s current conditions and articulates principles for prioritizing investments that strengthen people, business, and place capacity in order to stimulate economic growth and quality of life for all residents.

Policy to Take Comprehensive, Intentional Actions to Increase and Diversify our Economic Growth in an Inclusive and Equitable Manner that Focuses on Neighborhoods and their Unique Needs

October 2018: Framework for inclusive economic and community development

Following the City Council's policy direction, City staff worked with stakeholders to outline a framework to advance and implement an inclusive economic and community development strategy. Collectively, the group developed a framework that defines several components necessary to produce and implement a comprehensive strategy, including establishing: 1) a set of key inclusive guiding principles, 2) quality of life indicators, and 3) a criteria and performance metrics system.

Framework and Guiding Principles
Draft Quality of Life Indicators
Draft Criteria and Performance Metrics

November 2018: Measure U approved by voters

On November 6, 2018, Sacramento voters approved a new version of the City’s Measure U sales tax, extending it and raising it from a half-cent to a full cent. Measure U is a general tax, and the revenue it produces goes in the City’s General Fund and can be used for any municipal purpose. Measure U tax revenues are one potential funding source for projects that implement the forthcoming Inclusive Economic Development Strategy and Action Plan.

More Information on Measure U

Measure U Community Advisory Committee Meetings

May 2019: Investment committee appointed

In May 2019, City Manager Howard Chan appointed the first members to the Inclusive Economic and Community Development Investment Committee. The Investment Committee advises the City regarding policies, strategies, and investments to promote economic growth throughout the City’s diverse communities. Specifically, the Investment Committee is expected to assist the City with vetting and preparing such recommendations for City Council consideration. In some instances, the Measure U Community Advisory Committee will review these recommendations prior to City Council approval. The Investment Committee comprises members and represent major business industries, local and ethnic chambers of commerce, the housing sector, financial institutions, workforce development, higher education, youth, and arts and culture.

Inclusive Economic and Community Development Investment Committee

September 2019: Inclusive economic development investment guidelines

On September 24, 2019, the City Council approved the Inclusive Economic Development Investment Guidelines. These guidelines provide a framework to ensure that City’s investments foster economic and community development and job growth within the City of Sacramento and create opportunities for all of Sacramento’s residents, while at the same time prioritizing strategic investments for people of color, low-income individuals, and underinvested communities. Investments will invest city dollars in projects and programs that advance inclusive economic development and reduce inequities by improving the health, stability and economic security of residents and neighborhoods; fostering business and job growth; increasing household wealth; encouraging productivity; and supporting people, places and actions that promote economic growth throughout the city’s diverse communities.

Inclusive Economic Development Investment Guidelines

January 2020: 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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