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Stockton reports nearly $7 million in 2024 economic development subsidies; council accepts annual report
Summary
City staff reported approximately $6.95 million in 2024 economic development subsidies under AB 562, including fee waivers and sales-tax rebates; Council accepted the required annual report and residents questioned job quality and fee-nexus studies.
City staff presented the 2024 economic development subsidy report required under Assembly Bill 562 and the council accepted the report June 3.
Stephanie Ocasio, director of community development, summarized the programs that qualified under AB 562 for the 2024 reporting year: the Stockton Economic Stimulus Plan (CESP), public facility fee reductions for nonresidential projects (absorbed into CESP in prior years), a citywide affordable housing…
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