Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Economic development leans on Storefront Improvement Program and successor‑agency trust as city budget trims new capital asks
Summary
Economic Development Director Sergio Ramirez presented a $37.5 million departmental budget largely funded by successor‑agency trust balances. The small department highlighted the Storefront Improvement Program that uses modest city grants to leverage private investment, cited success stories and said no new capital asks are proposed for FY25‑26.
The Economic Development Department presented its proposed FY25–26 budget and several ongoing programs aimed at business retention, corridor revitalization and private investment.
Budget and funding
Director Sergio Ramirez described a proposed departmental budget of about $37.5 million, largely representing successor‑agency trust obligations tied to the former redevelopment agency. Ramirez said the department’s operating expenses are projected to decline about 17.8% from the prior year and that the FY25–26 request includes no new capital projects; several previously…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
