Title:
Title
Allocation of Sewer Credits to Thai Tran for the Tranvilla Housing Project
End
FileID
File ID: 2019-00635
Location
Location: District 6
Recommendation:
Recommendation
Adopt a Resolution allocating 24 Economic Development Treatment Capacity Bank Credits to Thai Tran for the Tranvilla Housing Project.
Contact: Tim Padden, Economic Development Project Manager, (916) 808-8506, Office of City Manager, Innovation and Economic Development Office
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Resolution
Description/Analysis
Issue Detail: Thai Tran has applied for 24 Economic Development Treatment Capacity Bank Credits (Credits) for the Tranvilla Housing Project (Project) located at 6458 Stockton Blvd. The Project is a combination of market rate and affordable housing units and is anticipated to break ground in June 2019. The 32-unit Project will be built on vacant land located behind the Pho Saigon Bay Restaurant on Stockton Blvd. The Project will provide much needed housing to the community. Staff recommends approval of the attached resolution that allocates 24 credits for the completion of the Project. If the City Council approves the attached resolution, the City will have 507.1316 Credits remaining as of May 28, 2019. Project completion is anticipated for late Summer 2020.
Policy Considerations: The City's Economic Development Strategy goals include supporting physical development and investment in the city with efforts to create jobs, improve quality of life, and provide the necessary infrastructure to attract development and businesses. Encouraging projects that promote job creation and growth is an important cornerstone of the City's economic-development goals. Within the 2035 General Plan as part of the economic development goals, one of our commitments is to promote and support such projects to make Sacramento the most livable city in America as well as to support and encourage efforts to implement key developme...
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