Community Fund

Aggie Square Innovation District will establish the Aggie Square Community Partnership, or ASCP, to oversee a community fund supported by a monthly fee on leased space within Aggie Square. The initial target is $150K per year, with Wexford contributing during the first three years. The ASCP, consisting of institutional and neighborhood representatives, will prioritize funds for youth opportunities, workforce development, place-making, public art, and entrepreneurial support. The goal is to prioritize programs that build community participation and engagement. Additional funding may be sought from public or philanthropic sources. An annual report will be provided that details fund use, contributions and participation levels, and more.

• Learn more about the Aggie Square Community Fund commitments

• Below you will find information directly from the Aggie Square Community Benefits Partnership Agreement that applies to the Community Fund commitments.
    

  1. (1) The Aggie Square Innovation District will create the Aggie Square Community Partnership (“ASCP”) to set priorities for an Aggie Square Community Fund (“Community Fund”), a monthly assessment, at the rate of $0.015 per rentable square foot, on all leased space within Aggie Square. This equates to a target amount of approximately $150,000 a year based on full occupancy. For the first three years after Aggie Square opens (i.e., within the three years after UC Davis issues the first certificate of occupancy or equivalent for a building in Aggie Square), Wexford shallseed the fund to cover the gap that might exist between the assessed amount and the annual target. In addition, Wexford shall provide $75,000 per year during the first two years of construction, with the initial contribution at initiation of construction. If the City, Wexford, and UC Davis jointly decide to use these initial funds specifically to support the One-Stop Hiring Center in partnership with the City, then Wexford shall make an additional $50,000 available at the start of construction to be used for youth programming the City and Wexford jointly approve. The ASCP may also seek additional funding from other sources as needed (e.g., public funds, philanthropic funds).
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  3. (2) The parties share a mutual commitment to enable community participation and engagement. To enable a community-centered voice in community benefits, the Aggie Square Innovation District will convene the ASCP, which serves as a focal point for community participation and engagement. The ASCP will include Neighborhood voices in the deployment of a community fund dedicated to local benefits. The ASCP will provide an annual report that outlines how funds were used and distributed, level of participation by each member, and level of activity for targeted priorities identified below. The Aggie Square Innovation District will implement the following strategies and initiatives to achieve this objective:
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     2. (a) The ASCP will consist of at least five members representing institutional partners, including UC Davis, UC Davis Health, Wexford, and possible anchor coalition partners (such as the community college), and at least five seats will be filled by Neighborhood partners (as determined by community residents and business owners).
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     4. (b) The ASCP will set priorities for the community fund using agreed-upon criteria with a focus on the following (or other criteria as determined by the community and ASCP membership): youth opportunities, workforce development and training, place-making, public art, and entrepreneurial support.

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