Development Fund

About the Program

The Development Fund received a one-time allocation that if agreed upon each year by the City Council, the remaining balance is carried over from year-to-year until exhausted. The current balance of the fund is approximately $540,000. This program is meant to be flexible in order to capture development opportunities and reduce or eliminate impediments to development. The program is divided into 3 parts:

• Part A: PBID and BID Support (PDF)
• Part B: Development Support (PDF)
• Part C: Economic Development Innovation (PDF)

Incentives

For Businesses, Property Owners, or Developers

• Assistance with development requirements, such as undergrounding utilities, offsite improvements, and sewer relocation
• Funding to assist in the attraction, retention, or expansion of a business in the city (this could also include special studies to spur development of a specific project)

Prospective or New PBIDs & BIDs

• Start-up costs up to a maximum of $25,000
• Supplemental operation funds for a maximum of 3 years
• Advancement of funding for special projects payable with future assessment

Existing PBID & BIDs

• Renewal assistance, up to a maximum of $20,000
• Advancement of funding for special projects payable with future assessments

Contact & Application Information

If you are interested in applying for assistance, please call 916-725-2448 to discuss your project.