Proposed Aggie Square community benefits include $50 million for affordable housing and commitment to hire local residents

The Sacramento City Council is scheduled to vote April 6 on a Community Benefits Partnership Agreement (CBPA) to ensure the Aggie Square innovation district on the UC Davis Sacramento campus not only boosts the economy of the region but also provides meaningful access to jobs, affordable housing and other benefits for residents of the surrounding neighborhoods.

The $1.1 billion proposed project will be located at Stockton Boulevard and Second Avenue in Sacramento, mostly on property owned by UC Davis. It would expand the university’s Sacramento campus, creating a state-of-the-art hub for research, innovation and education.

Crafted by UC Davis Chancellor Gary May, Mayor Darrell Steinberg and Councilmembers Jay Schenirer and Eric Guerra, the proposed agreement between the City, UC Davis and Wexford Technology and Science, LLC, centers on inclusive economic development measures that reflect community priorities.

They proposed agreement includes: Creation of an affordable housing fund with a minimum of  $50 million for the Stockton Boulevard corridor; prioritizing local residents for entry-level and higher-wage jobs and providing training pathways to those jobs; and improving biking, walking and transit access around the UC Davis Sacramento campus on Stockton Boulevard.

Since May 2018, UC Davis, the City of Sacramento and Aggie Square’s developer, Wexford, conducted more than 90 community and stakeholder meetings to listen, learn about community needs and share information about the project’s progress. Below are highlights from the CBPA in response to those needs:

$50+ Million for Affordable Housing

  • $29 million from City of Sacramento and Sacramento Housing and Redevelopment Agency affordable housing resources
  • $29 million from real estate taxes generated by private industry
  • $5 million from fundraising efforts for anti-displacement programs in partnership with the City of Sacramento and UC Davis

Jobs for Local Community Members

  • 5,000 construction jobs
  • 20% + of projected 3,500 – 4,000 employees

To facilitate this goal, UC Davis, Wexford Science and Technology and the City are working in partnership with industry, workforce development groups, organized labor and community colleges.

Annual Fund for Neighborhood Priorities

  • Target of $150,000 per year to support youth opportunities, local entrepreneurs, public art, minority and veteran-owned businesses, and workforce development

To generate early results on community priorities, the Aggie Square Community Partnership – a coalition of neighborhood voices – will set priorities for a fund supported by Wexford Science and Technology.

Broadway and Stockton Improvements

  • Up to $1.1 million contributed by UC Davis

To promote walking, biking and transit use along Stockton Boulevard and improve the intersection at Stockton and Broadway, UC Davis will contribute up to 50% (up to $1.1 million) to the cost of improvements recommended by the City.

Find more information about the CBPA on Aggie Square’s website.


Related stories:

Aggie Square update: jobs, workforce, training, affordable housing and more discussed at Dec. 17 community meeting
This new development project could bring more than 20,000 jobs to the Sacramento Region

%d bloggers like this: