HomeMy WebLinkAboutRES NO 109-2016 (3)RESOLUTION NO. 109-16 (3)
A RESOLUTION OF THE COUNCIL OF THE CITY OF
BAKERSFIELD ADOPTING THE AMENDED ECONOMIC
OPPORTUNITY AREA PLAN AND AMENDING THE
SOUTHEAST ECONOMIC OPPORTUNITY AREA.
WHEREAS, the City of Bakersfield (herein "City") is a charter city, and the
Council is vested by its Charter with the power to make polices and regulations
with respect to all municipal affairs; and
WHEREAS, economic development has long been a priority of the City
working to create and maintain a vibrant local economy and successful business
environment; and
WHEREAS, the use of City funds and resources for economic development
activities is proper because economic development is a municipal affair with a
clear benefit to the City's inhabitants and businesses; and
WHEREAS, economic growth within the City aids in the promotion of health
and welfare of the residents and businesses in the City, and is a general benefit
to the City by and through the provision of improved retail and commercial
success, increased commercial/industrial opportunity, increased visitation and
visitor spending, and an expanded tax base which aids the City in providing
municipal services to its local residents and business; and
WHEREAS, while the City was successful at utilizing redevelopment as an
economic development tool, the redevelopment program was dissolved by the
Dissolution Act in February 2012 and is no longer available for use by local
jurisdictions; and
WHEREAS, on April 20, 2016, the Bakersfield City Council adopted the
Economic Opportunity Area Plan as a local economic development tool to
promote economic growth within specific geographic areas of Bakersfield; and
WHEREAS, on June 29, 2016, the Bakersfield City Council established the
Southeast Economic Opportunity Area ("EOA"); and
WHEREAS, on January 29, 2024, the Budget, Finance and Economic
Development Committee referred to the full Council updates to the EOA Plan
and EOA boundaries; and
WHEREAS, on November 6, 2018, City of Bakersfield voters approved the
Public Safety and Vital City Services ("PSVS"), a sales tax increase, to address top
community priorities including bolstering economic development activities; and
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WHEREAS, the City Council finds that it is in the best interest of the City to
continue economic development within the City by adopting the amended
Economic Opportunity Area Plan ("EOAP") as a locally initiated development tool
that uses tax increment financing, PSVS and other public funds to promote
economic growth within specific geographic areas throughout Bakersfield and
more fully described in Exhibit A, attached hereto and incorporated by reference
herein; and
WHEREAS, in furtherance of its goal of economic development, the City
Council desires to amend the Southeast Economic Opportunity Area ("EOA") as
shown in the attached map as Exhibit B and incorporated by reference herein.
NOW, THEREFORE, BE -IT RESOLVED, by the Council of the City of Bakersfield
as follows:
1. The City Council finds and determines that the forgoing recitals are true and
correct and incorporated herein by reference.
2. The City Council finds and determines that it is necessary and in the best
interests of the City to adopt the amended EOAP as set forth in Exhibit A,
attached hereto and incorporated by reference herein.
3. The City Council hereby amends the Southeast EOA as shown in the
attached map as Exhibit B and incorporated by reference herein.
4. The tax increment base year for the Southeast EOA is July 1, 2019.
5. Tax increment generated from the Southwest EOA shall be accounted for
annually.
6. City Council authorizes the disbursement of funds for eligible economic
development activities consistent with the EOAP as set forth in Exhibit A.
7. The minimum and maximum amount of tax increment distribution within the
Southwest EOA per year shall be as set forth in Exhibit A.
8. The duration of the Southwest EOA shall not exceed an initial term of twenty
years unless extended or terminated sooner by the City Council.
9. City Council shall have the ability to suspend. the EOAP if the City is facing
or forecasting an economic hardship to the General Fund.
10. City Council shall direct the City Manager to implement procedures that
fairly execute this economic development policy.
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HEREBY CERTIFY that the foregoing Resolution was passed and adopted
by the Council of the City of Bakersfield at a regular meeting thereof held on
SEP 2 5 2024 by the following vote:
AYE COUNCILMEMBER ARIAS, GONZALES, WEIR, SMITH, FR —MA-H, GRAY, KAUR
NOES: COUNCILMEMBER
ABSTAIN: COUNCILMEMBER
ABS COUNCILMEMBER, (2 00 YYlC3�+�
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(J"J
J LILIE DRIMAKIS, CMC
CITY CLERK and Ex Officio Clerk of
the Council of the City of Bakersfield
APPROVED: SEP 2 5 2024
By 141
KAREN GOH
MAYOR
APPROVED as to form:
VIRGINIA GENNARO
City Attorney
SHUA H. RUDNICK
eputy City Attorney
Attachment: Exhibits A & B
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S:\EDCD_Shared\Economic Development\EDSP\Business Care\Incentives\Economic Opportunity Areas\2024 Update\City Council\Resolutions\Amended
Resolution Southeast.Docx
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Contents
1. Introduction...............................................................................................................................3
2. Program Financing......................................................................................................................3
2.1. Qualified Applicants......................................................................................................................4
2.2. Funding Sources............................................................................................................................4
2.3. Tax Increment Financing (TIF) Example........................................................................................4
3. Economic Opportunity Areas......................................................................................................5
3.1.
Downtown Economic Opportunity Area.......................................................................................6
3.2.
South SR 58/Airport Economic Opportunity Area........................................................................ 6
3.3.
State Route 99 Corridor Opportunity Area.................................................................................7
3.4.
34th Street Corridor Opportunity Area......................................................................................... 8
3.5.
East Hills Opportunity Area...........................................................................................................8
3.6.
Old Town Kern Opportunity Area.................................................................................................. 9
3.7.
Southeast Opportunity Area......................................................................................................... 9
4. Financial Incentives..................................................................................................................10
4.1. Site Improvement/Rehabilitation Grant.....................................................................................10
4.2. Business Relocation/Expansion Grant........................................................................................10
4.3. Development Assistance.............................................................................................................11
4.4. Small Business Loans...................................................................................................................11
5. Implementation Strategy..........................................................................................................11
5.1 Resolution Approving the EOAs..................................................................................................11
5.2. Program Guidelines.....................................................................................................................12
5.3. California Prevailing Wage..........................................................................................................12
5.4. Approval of Economic Development Activities...........................................................................12
5.5. Continual Transparency..............................................................................................................13
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ATTACHMENTS
A. Map - Overall Economic Opportunity Areas
B. Assessed Values (2014 — 2022)
C. Map —Amended Downtown Economic Opportunity Area
D. Map —Amended South SR 58/Airport Economic Opportunity Area
E. Map —Amended 34th Street Corridor Economic Opportunity Area
F. Map —Amended East Hills Economic Opportunity Area
G. Map — Amended Old Town Kern Economic Opportunity Area
H. Map — Amended Southeast Economic Opportunity Area
I. Map — State Route 99 Corridor Economic Opportunity Area
J. Map — Qualified Census Tracts
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1. Introduction
The City of Bakersfield's Economic Opportunity Area Plan (EOA Plan) is a locally initiated program that
uses tax increment financing, local sales tax revenue and other public funds to promote economic
growth within specific geographic areas of Bakersfield. The program was modeled in part, after State
redevelopment concepts and structured to be more flexible so it can meet demands of specific areas
within the City. Implementation of the Plan is anticipated to facilitate increased private sector
investment that will in turn create more tax revenue, promote businesses growth, and generate new
jobs.
The Plan outlines the concept of Tax Increment Financing and the use of local financing as a
commitment to revitalize specific areas. Next, the Plan addresses the concept of Economic
Opportunity Areas (EOAs), including a description of seven EOAs to be implemented, along with
respective economic development activities to be pursued. Finally, the Plan lays the framework for
implementation and the review process to ensure that the economic development activities align with
the City Council's priorities.
In November 2018, City voters approved the Public Safety and Vital Services (PSVS) measure. The
investment priorities for the measure align with the EOA Plan such as:
• Keeping public areas safe and clean.
• Addressing the fiscal stability of the City.
• Creating jobs through economic development, business retention/ attraction and workforce
development.
• Enhancing amenities throughout the community to improve the quality of life and attract
visitors.
Therefore, PSVS funding is appropriate to support implementation of EOA programs that address the
investment priorities.
In 2021, the City was awarded Coronavirus State and Local Fiscal Recovery Funds (SLFRF), established
under the American Rescue Plan Act (ARPA). The City Council approved a funding framework that
included funds for entrepreneurship, business expansion and facade improvements. Therefore, SURF
funding and future Federal or State funds consistent with EOA objectives may support the
implementation of EOA incentive programs.
The Plan is subject to revision as circumstances may warrant overtime and additional EOAs added in
the future. A map of seven areas is included as Attachment A.
2. Program Financing
When the private market does not provide sufficient capital and economic development activities to
a specific area, public actions may be necessary to stimulate growth. This action can include public
investments, capital improvements, enhanced public services, technical assistance, tax benefits, and
other types of stimuli. Public financing may serve as a mechanism to develop and encourage new
business, enable existing business retention and expansion, and provide other economic development
opportunities. Kk*
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2.1. Qualified Applicants
The financial incentives are eligible for both non-profit entities and for -profit businesses .
Program applicants must have a city business license and be located within or relocating into a
designated EOA.
2.2. Funding Sources
The City annually receives an allocation of property tax revenue which is appropriated to the
General Fund to support a variety of municipal services. Under this Plan, the incremental growth
in property tax revenue derived from the EOAs would remain in those areas to help fund
economic development activities.
To explain, the assessed property value in a defined area is "frozen" at a specific year, which is
referred to as the base year. On an annual basis, all property tax revenue collected above the
base year (tax increment) is applied toward meeting Plan's priorities. The tax increment
allocation is set for 20 years; after the expiration of the Plan, the remaining tax increment is re-
directed back into the General Fund, unless extended by City Council.
Ideally, the ongoing reinvestment of tax increment into a specific area assists in raising the
assessed property values owned by non-exempt entities above where they would have been
without such improvements. With higher values, property tax revenue naturally rises as well.
The tax increment funding amounts will be determined annually through the budget process.
Additional funding sources from the City's general fund, per PSVS investment priorities, can also
be included. When available, the City intends to utilize and leverage State, Federal, and other
economic development funds to further enhance revitalization. All funds will be allocated as part
of the annual budget process.
To respond to the negative impacts of the Covid-19 pandemic, SLFRF funds will be used to assist
eligible small businesses and non -profits in qualified census tracts, see Attachment J - Map of
Qualified Census Tracts.
2.3. Tax Increment Financing (TIF) Example
Assume that upon designation as an EOA, the area generated $500,000 in annual property tax
revenue to the City in the preceding fiscal year, which now becomes the base year. After being
designated as an EOA, the area now generates $522,000 in property tax revenue to the City.
The difference in property tax revenue between the base year ($500,000) and Year 2 ($22,000)
is the tax increment. After 10 years, the EOA now generates $590,000 in property tax revenue,
which equates to $90,000 in tax increment. See Figure 1. The TIF generated in each EOA since
the base year is shown in Attachment B.
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Figure 1: Tax Increment Financing Example
$600,000k
$580,000k —
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$560,000k d ;—
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$540,000k _ —
$520,000k —
. ? I. s � • I r u Tax Increment
$500,000k
■ Property Tax (Base Year)
$480,000k
$460,000k
$440,000k
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3. Economic Opportunity Areas
Seven EOAs are included for implementation. The areas are: (1) Downtown Bakersfield EOA, (2) South
State Route (SR) 58/Airport EOA, (3) SR 99 Corridor EOA, (4) 34th Street Corridor EOA, (5) East Hills
EOA, (6) Old Town Kern EOA; and (7) Southeast EOA. The areas selected, as depicted on Attachment
A, were based on their need for supplemental economic development activities.
The selected areas predominantly include property zoned for commercial and industrial uses, which
are uses that contain business and economic growth opportunities.
The purpose of this Plan is to develop and encourage new business, promote existing business
retention and expansion, support non -profits and provide other economic development opportunities
with funds allocated toward economic development activities that include and support the following:
• Support Existing Development with predominantly publicly visible rehabilitation and
renovation of buildings, site and landscape enhancements, and related development
fees.
• Support Future Development with demolition, site preparation, and property acquisition.
• Support Business Growth and Expansion with costs to start-up new businesses or existing
businesses that want to expand.
The following sections contain a description of each of the seven EOAs and the potential investment
opportunities within each EOA. OAK
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3.1. Downtown Economic Opportunity Area
The Downtown Bakersfield EOA is in the heart of the city and characterized as the central
business district. The area profile includes:
Figure 2: Downtown Bakersfield EOA--Area Profile:
Area Size:
875 Acres
No. of Parcels:
1,625 Parcels
Primary Zoning:
Residential, Commercial,
Manufacturing, & Mixed -Use
Investment Opportunities
Downtown Bakersfield has historically served as a center of civic and business activity and has
suffered over time from the relocation of major retail businesses to more suburban locations.
In recent years, however, Downtown Bakersfield has begun to experience a resurgence and
becoming a focal point for the arts, entertainment, dining, and specialty retailing.
The City has invested substantially in several new affordable housing developments in the
downtown area. The continuing revitalization of downtown has started to create new interest
in market rate housing opportunities. Despite these encouraging successes, the downtown area
continues to contain a considerable amount of vacant and underutilized properties.
The emphasis for investment in the Downtown Bakersfield EOA is based on continuing to build
on past successes and encourage continuing revitalization by physically enhancing the public
realm and encouraging investment in upgrading and renovating existing buildings and
properties. Potential economic development activities include:
• Improve pedestrian connectivity (e.g., sidewalks, park benches)
• Enhance visual characteristics (e.g., stamped concrete, kiosks)
• Promote the arts and shopping district (e.g., street banner program)
• Beautify medians and islands (e.g., install synthetic turf or pavers)
• Implement Making Downtown Bakersfield Vision plan projects
• Promote high -density residential development
3.2. South State Route (SR) 58/Airport Economic Opportunity Area
The South SR 58/Airport EOA is in South Bakersfield and is anchored by the Bakersfield
Municipal Airport and the historic Union Avenue Corridor. The Airport is a City -owned and
operated 190-acre general aviation airport. The area profile includes:
Figure 3: South'SR 58/Airport. EOA —Area Profile
Area Size:
2,974 Acres
No. of Parcels:
2,622 Parcels
Primary. Zoning:
Residential, Commercial, and
Industrial , eSN
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Investment Opportunities
A majority of the South SR 58/Airport EOA area is lightly developed, and existing land use
designations support industrial and commercial uses. The main commercial corridors are Union
Avenue, South Chester Avenue and Martin Luther King Jr. Blvd. The EOA area, east of Union
Avenue consists of lightly developed or vacant land. Significant portions of land north and south
of the airport have development constraints due to the airport's flight pattern. Acceptable uses
in the area affected by the flight pattern include warehousing, two-story offices, and single-
family homes on existing residential lots. Unacceptable uses include retail, manufacturing,
hotels and motels, and residential subdivisions.
The South SR 58/Airport EOA offers excellent opportunities to support commercial and some
industrial uses. There is an opportunity to support business expansion and growth along the
three main commercial corridors. There will be a noticeable benefit in allocating public funds
toward filling vacant structures and infilling undeveloped properties.
The potential economic development activities here include, but are not limited to:
• Incentives to fill vacant buildings.
• Incentives to develop vacant land.
• Environmental remediation and site preparation
3.3. State Route (SR) 99 Corridor Opportunity Area
The SR 99 Corridor EOA is in Central Bakersfield and allows for various commercial
development. The area profile includes:
Figure 4: State Route 58/Mt..Vernon EOA —Area Profile
Area Size:
298 Acres
No. of Parcels:
292 Parcels
Primary Zoning:
Commercial
Investment Opportunities
This area benefits from proximity to State Route 99, with highway serving businesses and main
access points to the City at several interchanges. The planned Centennial Corridor Project will
enhance connections to State Route 58 and the Westside Parkway, enhancing this area to
businesses that rely on convenient freeway access and to trans -state and cross-country
markets. Potential economic development activities include:
• Incentives to develop vacant land
• Incentives to fill vacant buildings.
• Environmental remediation and site preparation
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ORIGINAL
3.4. 34th Street Corridor Opportunity Area
The 34th Street Corridor EOA is located just north of the heart of the City with the primary
economic focus and driver of this area being Dignity Health Memorial Hospital. The area profile
includes:
Figure 5: 34th Street Corridor EOA,- Area Profile. _ =
Area Size:
1,365 Acres
No. of Parcels:
3,025 Parcels
Primary Zoning:
Commercial, Manufacturing,
Residential, Recreation
Investment Opportunities
Memorial Hospital has experienced significant growth and expansion of its own facilities in
recent years, and in turn the hospital's growth has created a market and need for medical offices
and other uses related to the medical field. Memorial Hospital has also invested its own
resources in adding streetscape features along 34th Street from Q Street to Union Avenue and
has expressed interest in undertaking similar improvements west to Chester Avenue. Beyond
Memorial Hospital and its ancillary facilities, the remainder of the area continues to be
economically depressed. The commercial and manufacturing -zoned land further away from the
hospital includes many parcels that are vacant, abandoned, and/or support dilapidated
buildings. Some of the residentially zoned and developed land near the commercial/
manufacturing areas may be ripe for transition. It is anticipated that many of the residential
areas that make up a good part of this area will continue to remain. For those residential areas,
there is an interest in strengthening the quality of the housing to better support and enhance
the overall image of the area as a major medical/health care center. Potential economic
development activities include:
• Improve pedestrian connectivity (e.g., sidewalks, park benches)
• Enhance security (e.g., lighting upgrades)
• Beautify medians and islands (e.g., install synthetic turf or pavers)
3.5. East Hills Opportunity Area
The East Hills EOA is in the east Bakersfield area and centered around the former East Hills Mall.
The area profile includes:
Figure 6: East Hills EOA-Area Profile
Area Size:
649 Acres
No. of Parcels:
787 Parcels
Primary Zoning:
Commercial
Investment Opportunities
From its opening in 1988,
subsequently demolished.
the East Hills Mall struggled to reach full capacity, and was
There has been renewed interest by investors with plans 4arr
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revitalization. It remains a low performing location due totraffic circulation in the area that are
challenging. The surrounding commercial uses have also experienced a lack in private
investment. Potential economic development activities include:
• Incentives to fill vacant buildings
• Incentives to develop vacant land
3.6. Old Town Kern Opportunity Area
The Old Town Kern EOA is located east of Downtown. It is a diverse community in a historical
center of Bakersfield and possesses great potential for revitalization. The area profile includes:
Investment Opportunities
While the area is economically distressed, it has a few buildings and sites that reflect the rich
history of the area. Because of the Railroad and the availability of social service providers, the
area has been known for a high concentration of transients. The lack of private investments into
the area has deteriorated over the years; however, it is also one of the few neighborhoods in
Bakersfield, where residential neighborhoods are adjacent to commercial businesses making
for a great community atmosphere. Potential economic development activities include:
• Improve pedestrian connectivity (e.g., sidewalks, park benches)
• Enhance visual characteristics (e.g., stamped concrete, kiosks)
• Enhance security (e.g., lighting upgrades)
• Beautify medians and islands (e.g., install synthetic turf or pavers)
• Promote high -density residential development.
3.7. Southeast Opportunity Area
The Southeast EOA is located south of Downtown. It is an area developed with residential and
commercial corridors. The area profile includes:
Investment Opportunities
The area is historically residential neighborhoods with two north -south commercial corridors
down Chester and Union Avenues, and California Avenue along the northern edge. TherreeIWe�
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Figure 7: Old Town Kern EOA —Area Profile
Area Size:
1,029 Acres
No. of Parcels:
2,397 Parcels
Primary Zoning:
Manufacturing, Commercial,
Residential
Figure 8: Southeast EOA —Area Profile
Area Size:
2,974 Acres
No. of Parcels:
5,731 Parcels
Primary Zoning:
Residential, Commercial
been limited economic growth in the area and future growth would require redevelopment and
infill of vacant parcels. The arterial streets in the area carry high vehicle speeds with a limited
number of controlled intersections and pedestrian amenities (i.e., trees, benches, streetlights,
etc.) However, the mix of residential neighborhoods, commercial uses, and existing street
network create opportunities for improved business activity by investing into amenities and
facilities that create a more pedestrian -friendly environment. In turn, these investments can
stimulate economic opportunity in the area. Potential economic development activities include:
Potential economic development activities include:
• Improve pedestrian connectivity (e.g., sidewalks, park benches)
• Enhance visual characteristics (e.g., stamped concrete, kiosks)
• Enhance security (e.g., lighting upgrades)
• Beautify medians and islands (e.g., install synthetic turf or pavers)
4. Financial Incentives
For the purposes of this Plan, financial incentives and technical support may include the following:
4.1. Site Improvement/Rehabilitation Grant
The site improvement and rehabilitation grants can provide financial assistance for the following
activities. Priority will be given to existing vacant or underutilized structures to new uses or to
revitalize previous uses:
• Facade Improvements: Investments in exterior building improvements (e.g., paint, awnings,
doors, windows, lighting)
• Site Enhancements: Investments in non-structural improvements (e.g., sidewalk, parking
lots, landscaping)
• Tenant Improvements: Construct publicly visible interior building improvements
4.2. Business Relocation/Expansion Grant
The relocation grant can provide financial assistance for business expansion and relocation activities:
• Relocation and Expansion: Financial assistance for businesses to relocate to an EOA area
and fund eligible relocation and expansion expenses. Note: this is an incentive and is
separate from the requirements of the Uniform Relocation Assistance and Real Properties
Acquisition Policies Act or the California Relocation Act.
• Rent/Lease Reimbursement: Financial assistance for new businesses to relocate to an EOA
area. Assistance includes rent reimbursement to assist businesses during the critical first
year of operation.
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ORIGINAL
4.3. Development Assistance
Reimburse Development Fees. Reimburse development fees for high -density residential (30
or more dwelling units/acre) and commercial redevelopment or reuse of a vacant or
underutilized existing building. Fee categories that may qualify include transportation
impact fee, building permit fee, water and sewer connection fee, and planning/land use fee.
4.4. Small Business Loans
Establish a loan program with a partner or lending institution to offer small business loans in EOA
areas to assist site improvement and rehabilitation grant applicants.
4.5 Small Business Technical Support
Partner with small business support organizations to provide technical assistance on EOA and other
City incentives and exploring opportunities to leverage other financial incentives.
5. Implementation Strategy
5.1 Resolution Approving the EOAs
To provide the City Council flexibility to amend the EOAs in the future, a separate resolution
establishes each EOA. The resolution describes the concepts related to establishing the EOAs,
as follows:
• Boundary: The boundary includes whole parcels as they appear on the assessment roll.
• Creation Date: The base year for the EOAs will be July 1, 2014. The duration of the EOAs
will not exceed a term of 20 years from establishment date; at which time, City Council may
extend the duration the program for a specified number of years or dissolve the EOA.
• Name: The EOAs are named to reflect the general locations and provide a branded identify.
• List of Economic Development Activities: Provide a general list of authorized economic
development activities for each EOA.
• Tax Increment Designation: The base year for the EOAs will be July 1, 2014. The City will
designate future tax increment received from property tax revenue in the prescribed
boundary toward economic development activities during the annual budget process.
• Minimum and Maximum Tax Increment: Establish minimum and maximum amounts of tax
increment designated annually toward economic development activities. To ensure viability
of the program, a minimum of $100,000 and a maximum of $250,000 dedicated to each
EOA in a fiscal year, regardless of the actual amount of increment that accrued during the
same year.
11 � R GINPo
• Tax Increment Financing Funds: Property tax revenue above the amount derived to the City
in the established base year will be identified and accounted for annually and will be
budgeted specifically for programs identified in the Plan.
• Economic Hardship: The City may suspend dedicating funds to an EOA if the City is facing
or forecasting an economic hardship to the General Fund. This action is subject to City
Council approval.
• All EOA Fund: In some fiscal years, the demand for EOA funding is greater, therefore an all
EOA Fund will be established for all EOAs and will be funded during the annual budget
process. Grants and other incentives will be awarded based on demand from eligible
applications.
5.2. Program Guidelines
Comprehensive program guidelines will include a description of financial incentive options and
well as detailed guidelines that will establish program criteria, eligibility, and application
guidelines. The grants and other financial assistance will require agreements, reporting for
monitoring projects and an established annual funding cycle for each fiscal year with proposed
grant and threshold amounts based on approved funds allocated during each annual budget
cycle. To be eligible for EOA program grants and loans an entity must be an existing legal
business or non-profit located within or re-locating/expanding to a designated EOA.
The SURF funds will be available to small businesses and non -profits that are operating in
qualified census tracts and were disproportionately impacted by the pandemic.
Per CA Government Code 53083, the EOA program will follow the requirements for cities
funding an "economic development subsidy," which is any expenditure of public funds or loss
of revenue to a local agency in the amount of one hundred thousand dollars ($100,000) or more,
for the purpose of stimulating economic development within the jurisdiction of a local agency,
including, but not limited to, bonds, grants, loans, loan guarantees, enterprise zone or
empowerment zone incentives, fee waivers, land price subsidies, matching funds, tax
abatements, tax exemptions, and tax credits.
5.3. California Prevailing Wage
Prevailing wages must be paid to all workers employed on public works projects, as defined by
the California Labor Code. For construction, alteration, demolition, and repair projects,
prevailing wages are not required to be paid for projects of $25,000 or less, or $15,000 or less
when the project is maintenance work.
5.4. Approval of Economic Development Activities
For any request for a disbursement of City funds related to this plan that exceeds $40,000
(cumulative for each project), will be brought to the City Council for review and action. For
requests of $40,000 or less, the proposal will be reviewed and acted upon administratively by
the Economic and Community Development Director based on consistency with stated
priorities for the EOA area. oI�saK� ��l
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S.S. Continual Transparency
The City Council will review the Plan's accomplishments during the annual budgetary process.
Administrative guidelines will be developed to establish more detailed procedures for day-to-
day implementation of the Plan. Through this process, the City Council may set additional policy
and direction related to the Plan. The economic development activities shall be presented in
broad categories to have the flexibility in meeting business demands. In addition, the City
Council may request revisions to the Plan's priorities anytime through the referral process. A
change to the Plan's priorities will require Council approval.
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Attachment A: Map - Overall Economic Opportunity Areas
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Attachment B: Assessed Values (2014 - 2022)
EXHIBITB- ASSESSED VALUES (2014-2022)
Year Net Value Property
34th Street Corridor
2014, $ 499,622,554.00 , $ 4,996,225.54 $
915,225.15
.
Base Year
2015 $492,272,381.00 $4,922,723.81 $
901,548.34
$
(13,676.81)
$100,000
2016; $ 522,534,399.00 $ 5,225,343.99 ', $
958,255.70
$
43,030.54
$100,000
2017: $533,688,342.00 $5,336,883.42 $
978,681.97
$
63,456.82
$100,000
2018' $ 560,371,744.00 ° $ 5,603,717.44 $1,027,582.92
$
112,357.76
$112,358
2019� $ 574,887,798.00 $ 5,748,877.98 $1,052,854.47
$
137,629.32
$137,629
2020, $ 591,121,942.00 ; $ 5,911,219.42 $ 1,082,604.23
$
167,379.07 ?
$167,379
2021; $ 789,465,888.00 $ 7,894,658.88 $1,447,039.15
$
531,814.00 ':.
$250,000
2022. $ 669,309,767.00 $ 6,693,097.67 $1,225,943.45
$
310,718.30
$250,000
$1,352,709.02 $1,217,366
Downtown
2014: $394,254,158.00.: $3,942,541.58 $
724,604.71
Base Year
2015. $ 397,914,806.00 $ 3,979,148.06 $
731,332.71
$
6,728.00
$100,000
2016 $456,912,265.00 $4,569,122.65 $
839,764.68
$
115,159.97
$115,160
2017' $ 473,882,040.00 ! $ 4,738,820.40 ' $
870,953.57
$
146,348.86 •
$146,349
2018 $ 499,080,778.00 $ 4,990,807.78 ; $
917,266.50
$
192,661.79 '
$192,662
2019 $511,135,077.00 $5,111,350.77 ! $
939,421.21
$
214,816.50
$214,816
2020 $ 513,548,912.00 $ 5,135,489.12 $
943,857.62
$
219,252.91
$219,253
2021: $ 521,956,191.00 ` $ 5,219,561.91 j $
959,309.29
$
234,704.59 ,
$234,705
2022' $530,852,140.00 $5,308,521.40 $
975,659.35
$
251,054.64 `
$250,000
$1,380,727.25
$1,472,945
East Hills
2014 $283,552,243.00 $2,835,522.43 $
521,512.29
Base Year
2015 $ 292,176,396.00 $ 2,921,763.96 $
537,373.98
$
15,861.69 1
$100,000
2016, $ 321,110,319.00 $ 3,211,103.19 $
590,589.51
$
69,077.22
$100,000
2017: $ 320,982,248.00 ' $ 3,209,822.48 $
590,354.00
$
68,841.71
$100,000
2018 $ 331,614,643.00 $ 3,316,146.43 $
609,909.28
$
88,396.99 !
$100,000
2019 $ 344,872,091.00 $ 3,448,720.91 . $
634,292.54 $
112,780.26
$112,780
2020' $ 353,946,665.00 , $ 3,539,466.65 $
650,982.60
$
129,470.31 ;
$129,470
2021' $ 365,435,646.00 $ 3,654,356.46 $
672,113.25
$
150,600.96
$150,601
2022' $ 384,815,043.00 $ 3,848,150.43 $
707,756.05
$
186,243.76
$186,244
$
821,272.90
$979,095
SR 99 Corridor
2014 $129,027,608.00 $1,290,276.08 $
236,511.04
Base Year
2015 $128,169,071.00 $1,281,690.71 $
234,303.26
$
(2,207.78)
$100,000
2016 $133,139,929.00 ` $1,331,399.29 $
243,457.89
$
6,946.84
$100,000
2017 $137,196,420.00 $1,371,964.20 ": $
250,870.82
$
14,359.78
$100,000
2018j $144,558,865.00 $1,445,588.65 $
262,521.92
$
26,010.88
$100,000
2019; $145,264,444.00 $1,452,644.44 i $
263,793.02
$
27,281.98
$100,000
2020. $148,556,856.00 $1,485,568.56 .' $
269,647.42
$
33,136.37
$100,000
2021; $149,350,774.00 ; $1,493,507.74 j $
271,089.68
$
34,578.63
$100,000
2022 $153,495,692.00 $1,534,956.92 $
278,600.12
$
42,089.08
$100,000
$
182,195.78
$800,000
15
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Old Town Kern
2014 $230,819,739.00 ; $2,308,197.39
$
423,661.05
Base Year
2015 $ 248,920,193.00 ' $ 2,489,201.93 $
456,934.30 $
33,273.25
$100,000
2016; $ 253,526,454.00 $ 2,535,264.54 $
465,561.26 , $
41,900.21
$100,000
2017 $265,800,834.00 $2,658,008.34
$
488,121.88 ;' $
64,460.83
$100,000
20181. $274,730,344.00 $2,747,303.44
; $
504,530.29 $
80,869.23 .
$100,000
2019 $ 289,396,578.00 $ 2,893,965.78
$
531,489.44 ; $
107,828.38
$107,828
2020A $ 303,376,097.00 $ 3,033,760.97
$
557,185.26 1 $
133,524.21 .
$133,524
2021`. $312,776,990.00 $3,127,769.90 $
574,467.32 ; $
150,806.27
$150,806
2022 $ 333,020,501.00 $ 3,330,205.01 $
611,683.47 ; $
188,022.42
$188,022
$
800,684.79
$980,181
South SR 58/Airport
2014 $186,991,722.00 $1,869,917.22
$
319,636.29
Base Year
2015 $202,412,076.00 ; $2,024,120.76
$
346,429.85 : $
26,793.56
$100,000
2016 $ 215,365,285.00 ! $ 2,153,652.85
$
367,939.10 '; $
48,302.81 '
$100,000
2017; $ 228,234,654.00 $ 2,282,346.54 $
390,655.65 $
71,019.36
$100,000
2018 $243,897,601.00 $2,438,976.01 ' $
418,354.43 $
98,718.13 :
$100,000
2019, $ 258,308,467.00 ; $ 2,583,084.67
$
443,347.03 $
123,710.74 '
$123,711
2020$ 274,754,668.00 ' $ 2,747,546.68
; $
471,504.64 $
151,868.35
$151,868
2021; $ 288,790,538.00 : $ 2,887,905.38
$
495,718.86 i $
176,082.57
$176,083
2022 $ 314,294,215.00 _ $ 3,142,942.15
$
539,567.19 ` $
219,930.90
$219,931
$
916,426.44 $1,071,593
Southeast Bakersfield
2014 $ 506,078,991.00 $ 5,060,789.91
$
869,429.66
Base Year
2015 $ 525,122,793.00 ` $ 5,251,227.93
$
902,389.50 $
32,959.83
$100,000
2016! $ 559,805,349.00 $ 5,598,053.49
' $
964,398.97 $
94,969.30
$100,000
2017 $ 585,749,695.00 $ 5,857,496.95
. $1,007,548.96 $
138,119.29 ;
$138,119
2018 ! $ 627,246,929.00 $ 6,272,469.29
. $1,072,574.55 $
203,144.89
$203,145
2019` $ 647,548,799.00 ; $ 6,475,487.99
$1,111,953.76 $
242,524.10 .
$242,524
2020 $ 689,048,215.00 $ 6,890,482.15
$1,181,433.27 $
312,003.61 .
$250,000
2021 $717,418,728.00 $7,174,187.28';
$1,230,950.24 $
361,520.57
$250,000
2022' $ 770,926,271.00 ' $ 7,709,262.71
$1,322,363.27 $
452,933.60 :
$250,000
$1,838,175.20 ! $1,533,788
a �
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Attachment C: Map — Amended Downtown Economic Opportunity Area (Green area)
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Attachment D: Map — Amended South SR 58/Airport Economic Opportunity Area (Blue area)
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Attachment E: Map — 34th Street Corridor Economic Opportunity Area
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Attachment F: Map — East Hills Economic Opportunity Area
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Attachment G: Map — Old Town Kern Economic Opportunity Area (Orange area)
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Attachment H: Map — Southeast Economic Opportunity Area
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ECONOMIC & COMMUNITY DEVELOPMENT
OG1TY
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City Limits N
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