1 Office of Economic Development Budget Economic Development Housing Redevelopment Central Parking

2 Economic Development Director Steve Carrigan Economic Development Director Steve Carrigan Economic Development

3 Economic Development (page 49)

4 Retail Power Center “Park West Place” in Spanos West at I-5 and Eight Mile Road will be fully built out by Spring million square feet of shopping & dining! new jobs & over $3 million in sales tax revenue each year. “Park West Place” in Spanos West at I-5 and Eight Mile Road will be fully built out by Spring million square feet of shopping & dining! new jobs & over $3 million in sales tax revenue each year.

5 Proposed Retail Power Centers Weston Ranch (Open in 2007)  Approximately 600,000 s.f. of new retail on 60 acres at French Camp Rd. and I-5 Origone Ranch (Break ground in late 2006)  Approximately 60 acres of new retail at Hammer Ln. and Hwy 99 Cannery Park (Begin construction in 2007)  Approximately 50 acres of new retail at Eight Mile Rd. and Hwy 99 Weston Ranch (Open in 2007)  Approximately 600,000 s.f. of new retail on 60 acres at French Camp Rd. and I-5 Origone Ranch (Break ground in late 2006)  Approximately 60 acres of new retail at Hammer Ln. and Hwy 99 Cannery Park (Begin construction in 2007)  Approximately 50 acres of new retail at Eight Mile Rd. and Hwy 99

6 New Industrial Development Airport Pointe - Condominium warehouses at Arch Road & Performance Drive BMW – 250,000 square feet distribution facility on Runway Drive Cintas – 54,000 square feet commercial laundry facility on Industrial Drive Lennar – 200,000 square feet framing plant at Arch Road & Fite Court Oldcastle – 35,000 square feet concrete paver manufacturing facility off Industrial Drive Airport Pointe - Condominium warehouses at Arch Road & Performance Drive BMW – 250,000 square feet distribution facility on Runway Drive Cintas – 54,000 square feet commercial laundry facility on Industrial Drive Lennar – 200,000 square feet framing plant at Arch Road & Fite Court Oldcastle – 35,000 square feet concrete paver manufacturing facility off Industrial Drive

7 Business Incentives  50 ERC meetings in  11 Facade Improvement Forgivable Loans awarded in 2005 for $327,644. Property owners contributed $153,700.  2006 Community Profile  Updated “Advantage Stockton” with new demographic information and property listings  50 ERC meetings in  11 Facade Improvement Forgivable Loans awarded in 2005 for $327,644. Property owners contributed $153,700.  2006 Community Profile  Updated “Advantage Stockton” with new demographic information and property listings Before After

8 Housing Laurie Montes, Director

9 Housing (page 167) CDBG$4,304,884 HOME$2,113,724 American Dream Initiative$29,697 ESG$ 183,550 Total Entitlements:$6,631,855 Budgets adopted by Council April 25, 2006 –Will be sent to HUD before new program year starts CDBG$4,304,884 HOME$2,113,724 American Dream Initiative$29,697 ESG$ 183,550 Total Entitlements:$6,631,855 Budgets adopted by Council April 25, 2006 –Will be sent to HUD before new program year starts

10 Neighborhood Improvements Airport Way Neighborhood Center $850,000 Gleason Park Street Improvements $1.7 million Van Buskirk Community Center $400,000 Airport Way Neighborhood Center $850,000 Gleason Park Street Improvements $1.7 million Van Buskirk Community Center $400,000

11 Housing Projects Gleason Park Master Plan Windstone Cottages Montecito Townhomes Winslow Village Neighborhood Improvement Program Gleason Park Master Plan Windstone Cottages Montecito Townhomes Winslow Village Neighborhood Improvement Program Winslow Village

12 Program Modifications Downpayment Assistance Program less accessible to low-income families –Mortgage rate increases –Market changes Proposed change includes: –Increase assistance to $80,000 per household –Change effective July 1, 2006 Downpayment Assistance Program less accessible to low-income families –Mortgage rate increases –Market changes Proposed change includes: –Increase assistance to $80,000 per household –Change effective July 1, 2006

13 Redevelopment Steve Pinkerton, Director

14 Redevelopment (page 193) (In Thousands)

15 Arena Bond Debt Service $2,155,272 total debt service for 06/07 $1,165,889 paid from Midtown RDA $ 613,086 paid from West End RDA $ 376,297 paid from Port Industrial RDA $2,155,272 total debt service for 06/07 $1,165,889 paid from Midtown RDA $ 613,086 paid from West End RDA $ 376,297 paid from Port Industrial RDA

16 Low/Mod Income Set-Aside Fund Project Areas Gross Tax Increment Contribution to Low/Mod % West End$1,409,795$0 0% Port$571,100$114,220 20% Midtown$4,064,294$812,859 20% South Stockton $6,184,747$1,518,909 25% North Stockton $6,333,101$1,266,620 20% Rough & Ready $10,943$2,189 20% $18,573,980$3,714,797

17 Hotel Stockton Tenant Improvements $3 million budgeted in 2005/06 –Sources included West End TI, South Stockton loan and CDBG loan –South Stockton and CDBG loans were cancelled in 2005/06 Project Budget reduced to $2.5 million –RDA West End to expend $600,000 in 2005/06 –$1,900,000 budgeted in General CIP for 2006/07 $3 million budgeted in 2005/06 –Sources included West End TI, South Stockton loan and CDBG loan –South Stockton and CDBG loans were cancelled in 2005/06 Project Budget reduced to $2.5 million –RDA West End to expend $600,000 in 2005/06 –$1,900,000 budgeted in General CIP for 2006/07

18 Commercial/Entertainment Stockton Events Center –Arena opened in December 2005 –Sheraton Hotel under construction Pedestrian Bridge –Design and permitting Downtown Marina –Construction expected to begin early 2007 Alex G. Spanos Elementary School –Site preparation and construction

19 Office/Retail Development & Expansion Hotel Stockton retail improvements Events Center retail South Shore Office Development WorkNet Building completed Hotel Stockton retail improvements Events Center retail South Shore Office Development WorkNet Building completed

20 Residential Development Waterfront West –Development proposals under review Gleason Park –Commence construction on one or more housing projects Waterfront West –Development proposals under review Gleason Park –Commence construction on one or more housing projects

21 Central Parking

22 Central Parking (page 147)

23 Capital Projects Stockton Events Center Parking Structure –Completed in December 2005 Ed Coy Parking Structure –Completed in December 2005 –New Parking District Office under construction Stockton Events Center Parking Structure –Completed in December 2005 Ed Coy Parking Structure –Completed in December 2005 –New Parking District Office under construction Coy Garage Arena Garage

24 Parking Management 5% fee increase for monthly parking approved by Board Installed automating operations in Arena and Coy garages Developing plan for implementing automating operations in other garages 5% fee increase for monthly parking approved by Board Installed automating operations in Arena and Coy garages Developing plan for implementing automating operations in other garages

25 Office of Economic Development Budget