Title:
Title
Destination Sacramento Program
End
FileID
File ID: 2019-00592
Location
Location: Old Sacramento Waterfront, District 4
Recommendation:
Recommendation
Adopt a Resolution: 1) establishing the Destination Sacramento Program multi-year operating project (MYOP) (I02185000); 2) transferring $5,000,000 from available fund balance in the 2018 Transient Occupancy Tax Taxable Revenue Bond Fund (Fund 6331) to I02185000; and 3) directing staff to proceed with the project feasibility phase for the Destination Sacramento Program, starting with the waterfront.
Or:
Adopt a Resolution: 1) establishing the Destination Sacramento Program multi-year operating project (MYOP) (I02185000); 2) transferring $5,000,000 from available fund balance in the 2018 Transient Occupancy Tax Taxable Revenue Bond Fund (Fund 6331) to I02185000; 3) committing all residual TOT Revenue Bond capacity, including that created by other funding sources and from the issuance of an additional series of TOT Revenue Bonds, to the Destination Sacramento Program as soon as it becomes available; and 4) directing staff to proceed with the project feasibility phase for the Destination Sacramento Program, starting with the waterfront.
Contact: Ellen Sullivan, Junior Development Project Manager, (916) 808-5758; Richard Rich, Riverfront Project Manager, (916) 808-2519, Office of Innovation and Economic Development
Body
Presenter: Richard Rich, Riverfront Project Manager, (916) 808-2519, Office of Innovation and Economic Development
Attachments:
1-Description/Analysis
2-Waterfront Idea Makers Program Overview
3-Keyser Marston "Old Sacramento Waterfront Revenue Potential"
4-Resolution - Option A
5-Resolution - Option B
Description/Analysis
Issue Detail: The FY2016/17 budget priorities approved by the Mayor and City Council included an initiative to invest in the Sacramento riverfront as an economic driver for the region's economy (Destination Sacramento). In December 2016, the Mayor an...
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