Final Community Benefits Partnership Agreement
Updated April 6, 2021
At the April 6 meeting of Sacramento's city Council, councilmembers voted to approve the Community Benefits Partnership Agreement between UC Davis, the city of Sacramento and Wexford Science & Technology.
Highlights of the Community Benefits Partnership Agreement
Since May 2018, UC Davis, the city of Sacramento and Aggie Square's developer, Wexford Technology & Science, LLC, conducted over 90 community and stakeholder meetings to listen, hear community concerns and share information about the project's progress. In response to learning more about local needs, Aggie Square's partners have drafted and agreed upon a Community Benefits Partnership Agreement (CBPA). The complete CBPA can be found here.
Below are highlights of the agreement:
$50+ Million for Affordable Housing
-
$29 million from city of Sacramento and Sacramento Housing and Redevelopment Agency affordable housing resources
-
$16 million present value (or $29 million over 45 years) 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.