A project decades in the making, West Sacramento has turned what
was once a nearly century-old industrial district into a
growing and thriving mixed-use community where people can live,
work, and play. To make the city’s vision a reality, it helped
create a new financing tool.
Tourism is spurring the recovery of lost jobs and revenue in many
cities, particularly rural ones. However, those gains have not
been felt equally, especially in large, urban communities. It is
crucial that cities and other tourism stakeholders, regardless of
their recovery level, have plans in place to help them navigate
future uncertainties.
In the early months of the pandemic, Escondido’s bustling,
historic downtown turned into a ghost town overnight. The city
responded with a creative, collaborative, community-driven
program that stimulated the local economy and celebrated the
beauty and resilience of Escondido.
There’s no denying that global events, many spurred by the
pandemic, have had a significant impact on California cities over
the past couple of years. As city leaders focus on retooling
their local economies for today’s new market realities, the need
for robust, effective economic development tools is readily
apparent.
New development projects increase demand on existing public
infrastructure. To fund improvements, cities often impose
development impact fees, which are governed by the Mitigation Fee
Act. Recently, courts have interpreted this law in a more rigid
manner, suggesting that any fees held unspent for more than five
years must be refunded.