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CIC director outlines budget shortfall, property sales plan and Opportunity Zone nomination
Summary
Phil Downing told Riverside council the Community Improvement Corporation expects less revenue than hoped, has received $24,000 from the city this year (part of $187,000), and plans lot sales and property dispositions to reduce city support over a five‑year horizon; he also cited an Opportunity Zone 2.0 nomination for Census Tract 906.
Phil Downing, representing the Community Improvement Corporation (CIC) of Riverside, told council the CIC is about eight months into its second year of operation and has adjusted budget assumptions after property transfers were delayed by title issues.
"It's $24,000. So part of that $187,000 of that would be for the CIC," Downing said, explaining the portion of city funds already received this year. He told council that several anticipated property transfers — including parcels intended for infill and a property at 601 Prince Albert — were delayed until late May but are now moving forward. Downing said the CIC has filed seven board of revision requests and is preparing disposition documents and a property‑pricing policy so it can begin lot sales and reduce reliance on city contributions.
Downing described the CIC's near‑term priorities as neighborhood stabilization and redevelopment of the Springfield Street Innovation Corridor, and said the organization aims to phase out city funding under the five‑year plan originally outlined. He asked council for continued city participation in the early years while the CIC implements sales and seeks grant support.
Mayor Williams questioned whether those activities overlap with the city's source‑water protection area and the use of a recurring regional grant. "For the next couple of years, this is a bad use of that recurring $100,000 money that we get sent in," the mayor said, urging council to consider appropriate uses for those funds. Downing responded that some CIC work falls outside the source‑water area, that he will return with tighter numbers for the 2027 budget, and that the CIC will pursue small foundation grants alongside lot sales.
Downing also said the CIC submitted an Opportunity Zone 2.0 nomination for Census Tract 906 (the Center of Flight area), an initiative he described as strategic for future redevelopment. He warned the nomination is not complete and will require follow‑up and outreach.
Council and staff asked Downing to return with updated budget details. Downing said he would provide more precise revenue and expense figures in about a month and continue coordinating title work, sales policies, and restrictive covenants.
