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HomeMy WebLinkAboutR32-Economic Development ECONOMIC DEVELOPMENT AGENCY STAFF REPORT APPROVAL AND RATIFICATION OF FILING OF ENFORCEABLE OBLIGATIONS PAYMENT SCHEDULE BACKGROUND: On or about June 27, 2011, the California Legislature passed Assembly Bills ABx1 26 and ABx1 27, which were signed into law by the Governor on June 29, 2011. The effective dates of said Assembly Bills remain in contention based upon the exact date of signing by the Governor and the resulting effective date as a budget matter approved by a simple majority vote of the State Legislature rather than a two-thirds vote for urgency legislation having an immediate effective date. ABx1 26 suspended redevelopment agency activities and thereafter provided for the dissolution of redevelopment agencies unless the city or county that formed the redevelopment agency adopted an ordinance to reinstate their redevelopment agency and agreed to make certain payments which could be funded with tax increment revenues. In the case of the Redevelopment Agency of the City of San Bernardino (the "Agency"), the initial payment for fiscal year 2011-2012 was determined by the State to be $13,911,247 payable in two installments of equal payments on January 15, 2012 and May 15, 2012, equal to $6,955,623.50 on each payment date. In subsequent fiscal years the annual payment would be approximately $3.2M payable in two installments of approximately $1.6M on each January 15 and May 15 commencing in the 2012-2013 fiscal year. The City adopted an urgency ordinance regarding such reinstatement and payments on July 5, 2011. Pursuant to the language of said Assembly Bills, no Enforceable Obligations Payment Schedule ("EOPS") is required when such an ordinance has been adopted providing for the continuing existence of the Agency. The approval and filing of an EOPS is required only if the redevelopment agency will be dissolved. However, this provision has caused confusion due in large part to the State-wide litigation referenced in the next paragraph. On July 18, 2011, the League of California Cities (the "League") and the California Redevelopment Association (the "CRA") filed suit directly with the California Supreme Court, asking the Supreme Court first to stay the effect of both Assembly Bills and then to examine their constitutionality. On August 11, 2011, the Supreme Court issued a partial stay of ABx1 26 and a complete stay of ABx1 27. The Court intends to issue a final decision by mid-January, 2012. At the request of the CRA and the League, on August 17, 2011, the Supreme Court clarified the stay in a manner which may require cities and agencies to adopt and transmit the EOPS no later than August 29, 2011. Therefore, the conservative advice provided by the League and the CRA was for all redevelopment agencies to prepare the EOPS whether or not such a document will ultimately be required of the particular redevelopment agency. One advantage of listing all such obligations is to confirm that during the pendency of the Supreme Court imposed stay, the Agency has the ability to take the necessary actions to carry-out all such enforceable obligations which include the payment of bond debt service obligations, payments on executed construction contracts and other types of contracts, consulting contracts, employment contracts and commitments for office space and equipment. However, no new ---------------------------------------------------------------------------------------------------------------------------------------------- P:Wgendas\Comm Dev Commission\CDC 2011\09-06-11 Enforceable Obligations Payment Schedule(EOPS)SR.doc COMMISSION MEETING AGENDA Meeting Date: 09/06/2011 Agenda Item Number: Economic Development Agency Staff Report Enforceable Obligations Payment Schedule Page 2 obligations or debt may be entered into during this time until the case is finally decided or additional clarification language is issued by the Supreme Court. CURRENT ISSUE: Agency Staff has prepared and filed the attached EOPS which incorporates all obligations of the Agency as previously approved by the Commission. To meet the deadline as suggested by the League and the CRA, Agency Staff transmitted the EOPS to the necessary State agencies on August 29, 2011. Therefore, based upon the recommendation of Agency Counsel, Agency Staff is requesting that the EOPS be approved and its transmission be ratified by the Commission pursuant to the Resolution in the form as attached to this Staff Report. ENVIRONMENTAL IMPACT: No impact under the California Environmental Quality Act("CEQA"), pursuant to Section 15301. FISCAL IMPACT: None. RECOMMENDATION: That the Community Development Commission adopt the attached Resolution. Emil A, a r�uj o,I im Execu ive Director -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- P:\Agendas\Comm Dev Commission\CDC 2011\09-06-11 Enforceable Obligations Payment Schedule(EOPS)SR.doc COMMISSION MEETING AGENDA Meeting Date: 09/06/2011 Agenda Item Number: 1 RESOLUTION NO. ' 00 �- 2 _ 3 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING AND RATIFYING THE 4 FILING OF AN ENFORCEABLE OBLIGATIONS PAYMENT SCHEDULE 5 AS REQUIRED BY ABX126 6 WHEREAS, as part of the 2011-2012 fiscal year State of California budget, the State 7 Legislature enacted, and the Governor signed, ABxI 26 and ABxI 27, which propose to dissolve 8 every redevelopment agency in the State unless the community which created the redevelopment 9 agency adopts an ordinance agreeing to participate in a "voluntary" annual payment plan to remit 10 Payments to the State to fund schools and other State obligations; and 11 WHEREAS, on July 18, 2011, the League of California Cities and the California 12 Redevelopment Association filed suit in the California Supreme Court to stay these two Assembly 13 Bills while the California Supreme Court examined their constitutionality, which stay was granted 14 in large part on August 11, 2011; and 15 WHEREAS, the Court has clarified that the stay of ABxl 26 is partial, and that it intended it 16 to apply to all redevelopment agencies, thus potentially requiring all redevelopment agencies to 17 adopt an Enforceable Obligations Payment Schedule ("EOPS") as required by ABx1 26 for filing 18 with the State by August 29, 2011 whether or not the applicable community adopted the ordinance 19 as provided in ABxI 27 and regardless of the outcome of the litigation presently being considered 20 by the Supreme Court; and 21 WHEREAS, the Agency has the authority to carry-out and remit funds to satisfy the 22 payment obligations included with the debts and other contractual and financial obligations listed on 23 the EOPS and is empowered to implement those other actions as reasonably related thereto. 24 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE 25 CITY OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER, AS 26 FOLLOWS: 27 Section 1. The Recitals set forth above are true and correct. 28 P:Wgendas\Resolutions\Resolutions\2011\09-06-11 Enforceable Obli Obligations 1 g Payment Schedule(FOPS)CDC Reso.doc 1 Section 2. Approval and Ratification of EOPS. The Commission hereby ratifies, 2 approves and adopts the EOPS attached and incorporated as Exhibit "A" to this Resolution and 3 additionally ratifies the transmission thereof as required by ABxI 26 to the County Auditor- 4 Controller, the State Controller, and the Department of Finance, and the posting of it on the 5 Agency's official website. Agency Staff is directed to take any and all other necessary actions 6 reasonably required for the dissemination of notification or promulgation of the EOPS and the 7 implementation of the obligations set forth therein as may be required by applicable law. 8 Section 3. Determination of Invalidity. In the event that the requirement for an EOPS is 9 determined to be of no force and effect, this Resolution shall likewise be deemed to be of no further 10 force and effect without additional action by the Commission. 11 Section 4. This Resolution shall take effect from and after its date of adoption by this 12 Commission. 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2 P:Wgendas\Resolutions\Resolutions\2011\09-06-11 Enforceable Obligations Payment Schedule(EOPS)CDC Reso.doc 1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING THE FORM OF AND 2 RATIFYING THE FILING OF AN ENFORCEABLE OBLIGATIONS 3 PAYMENT SCHEDULE AS REQUIRED BY ABX126 4 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community 5 Development Commission of the City of San Bernardino at a meeting 6 thereof, held on the day of , 2011, by the following vote, to wit: 7 Commission Members: Armes Nays Abstain Absent 8 MARQUEZ 9 JENKINS 10 BRINKER 11 SHORETT KELLEY 12 JOHNSON 13 MC CAMMACK 14 15 16 Secretary 17 The foregoing Resolution is hereby approved this day of 2011. 18 19 Patrick J. Morris, Chairperson 20 Community Development Commission 21 of the City of San Bernardino 22 Approved as to Form: 23 By: .c i��< is . V:.Iti I`�l 24 Ajency Counsel 25 26 27 28 P:\Agendas\Resolutions\Resolutions\2011\09-06-11 Enforceable Obligations Payment Schedule(FOPS)CDC Reso.doc I EXHIBIT "A" 2 ENFORCEABLE OBLIGATIONS PAYMENT SCHEDULE 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4 P:\Agendas\Resolutions\Resolutions\2011\09-06-11 Enforceable Obligations Payment Schedule(EOPS)CDC Reso.doc 0 � O o O o o O r N O o O o o O o o y o o o o o 0 0 o o O o o r 0 r m m u) O u) O u) O m V' 0 0 0 0 0 0 0 0 O O O O O o 0 0 0 o o o m M N m u) r O N O c i m O m o m u) u) O O O m O O o o o o o o 0 u) O u) r r u) V m u) M N o N V M m N r T M w O O o O O o O O O O o m M w N O M l0 m m N m N m M o m M O) r O O m r m m u) r u) o r O O O O r cc m u) M r o m M V M O m m m N m co O O m M m N N M N O M O 0 o a M � m m m V u) u) O O t0 m r 0 u) M O V m m m N V o o o Q M V V m M r N r N u) m w r '7 (D N u) u) r (D M N V N O O_ r N V N u) m N N M M -It M u r M M E9 fA EO fA E9 fA 69 EO fA (O f9 M- M M- f9 fA fH c9 fA f9 fA 69 fA b9 fA (A f9 E9 fA fA f9 fA fA (9 fA 613 69 b9 M M o 0 0 o M o o 0 0 o o o o o o m u) u) M M m O O O m O O O u) So o o 0 0 N m m m M N O O O M u) O O r O O o M M M M N N m M u) O O O r w O M O O u) M w M N u r M M r m m u) m N 0 m O O r M .- M r 0 r m M m m M m N N m O O O O m N m m O m m LO u) O V ID m M ID O N (D c0 r V m m (4 cA fA f0 (A fA di a co M O M O O O O O O O m (D u) M M O u) u) O O O O O O r u) V N O) M O M r O O O M m M u) N m m M m O M O O u) M U> M O N N L > r M U) u) O) o O O C o M m m N O O O w m m m r m u) p Z V' u) m m O O m u) m O E qT u) O O O T V N r m L W a u> (n v ( v (» m c � m M M o r m o o M a o o o o o o (D r Z E (m (1 o m v o o m 0 0 (n o o o o m m w >` m M m O m N u) M u) O r O M (D M r ED R C m m M N V M N r o r m M u) M u) M o Ln m N a r M o o M r o (n w N M � M o o r m E�° O M m D) m N m o N m O w m m m r g N Cl) Q) u) r O m M (O m u) fl- ,It m r V N (O O r r d M m m > m L f9 fA f9 f9 fn fA _„ T � U M M O M O O O O O m (o u) w C M M o m (n o o o o r m v °i a) m o ri r o of w of ui ri N m M u) O M o M m M r N O (()a n r M m (n m r co M m o o (� u) M m O N o (D m O) m m m V N V u) V (D m u) u1 l'- V m N W V � m uJ N N u) L m N N U U U fR fA fA cA cA fA �•„ u o -u) M M O o a o o M O O O O O O) (D W u m M M u) O u) m O uJ u) O O O O m w M �_r m M r O N u) M r O M m M N r o T 2 o M o M N d M O M u M u) M r m t=L U r cM N m N O m u) m r c' - M V N u) N l J M m V M V' M O m N O u) m m m m (O t Q V L u) u) m M u) m u) M u) m L m A v V V 7 Q Z Q) to f9 fA fA fA fA O` Q L W O O O O u) O u) O O O O O O O O O O o r O O O O O O O O O O O O r O r m O l0 r O N O M O O O O m m O O O (O O O O O O O O O O O O O e- O .- L M N o w r m O w w m u) o o o o O O o M 0 0 0 0 o o o o o o o 0 u) m N m N O o M u) u) m m V w u) N N m o o 0 V O o o m O o o o o o o o m u) N > > Q = } N O u) u) N m (c O O u) m y .. r v u) N m O u) O o N 0 0 C 0 0 0 0 0 N m N N E m m o m V w .- M N N r o V u) r r N O r w O O O o o O O O m u) V' /� N O O M (O N U) N N m r m M O m m M m N N M 0 0 0 0 V 0 O +-- u) m !'cn y. ^ O V M m O V u) '- N u) O m u) r M u) r v M r u1 V r O O r N N r (O (! u) (D o N O m Z r m i w r m a O M F- Q O ~ CO ° a Q m C O O O O O O O O r m u) 0 0 0 0 0 0 0 u) 0 0 o o o o o o o o o o u) o (D (p m o o o u) 0 O O o o 0 0 0 0 0 0 0 0 0 0 0 0 m 0 m L m "4 N N o o O N O O N u) Q7 U) m N m N r r V 0 0 0 0 0 0 0 0 0 0 0 0 m U) u) U) C M O O T o m V r m o u) M .-- u) r (D M N o o o 0 a o o o o o o o N u) m (C ` '- N O M N O m M •' O m r .-- M m 0 �- u) r u) 0 0 c 0 0 0 0 o 0 0 c m u) u) 5 C V r O m N M m o o w m o o o o o O O � o o W (Q > N O u) 1 N m O m m m O N m 0 m V m m M u) O u) O O O O V' O O r m y p 0 OQ M m O N N (D (D •- M O M M LO 0 0 M M N m O N O o r N N r r m M N O u) N V' r in u) a V `S V V u) u) .- m u) m m M m m V m R u) p) m m a M m N M m N M u) m W Q O 4) V u m G L G e% cA co cA to T T o W a > > > C U C Q (n (n u) m w N y m y Vl ;� Q � U N N N N c Z N E C m M a a a o = _ O > L c m E m a o c O a O o _ x p c m o m c a U U U u x m E U w Z > U N « O > > O C m U U U m m w > D R W C N r U U N N U) N m C c w o C p J C L C 'o m > o m m m m Z Z Z a 'a ,� o m `o u p 3 3 i ; m a ° 'o 'o v m a o d m m m ¢ o m au 2 '� c m T a .� N O a a m .O W W W o O N = p h L = 2 - E m U) (a «. 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The 1.3% after the disruptions, with an added economic impact from growth rate was not one of them. There were plenty of the rebuilding process. Oil prices, which created a drag on indications that the US growth was slowed in the second consumer spending, have already fallen from their April quarter as a result of a pullback in consumer spending, in peak. Prices at the pump are starting to follow. This implies turn driven by the spike in oil prices and the supply chain that consumers will be able to spend more on non-energy disruptions caused buy the Japanese tsunami not to mention goods. And ultimately even if oil stays in the $100 range the weather issues in the Midwest and subsequent flooding. the shock will diminish over time as American's forego gas guzzling pickups and SUV's for smaller cars and hybrids. What did change was the history of recession and recovery. First—we learned that the US dipped deeper in the recession On top of this is the positive trade picture. Inflation in the that originally estimated.The peak to trough decline in output developing world is making U.S. products cheaper abroad was bumped from 4.1%to 5.1%. Second,the recovery was, by contributing to the decline in the real value of the $US. at first,stronger than thought.The US economy grew at close As such we expect that U.S. exports will continue to add to to a 4% rate through the first half of 2010. It then began to economic growth in a solid way. slow in the second half of the year, ending with what looks now to have been a near zero growth first quarter of 2011. The biggest issue really has been around the issue of the Federal budget deal that has just passed. In general the Combine this with the issues surrounding the debt ceiling and Federal deficit needs to start to close—and this implies that it's easy to understand why the equity markets have ended Federal spending will be a necessary drag on the economy their winning streak with a giant thud. Suddenly 'double dip' for the near term. But—with the chaos of the battles over is back in the headlines even as policy makers have rushed raising the ceiling hopefully behind us, the uncertainty will to assure the public that the recovery is not threatened. So be reduced and businesses can get back to planning for the which is it? Is the economy slipping back into a downturn, future through hiring and business investment. or are the shocks to the system transitory, as suggested by Bernanke and other policy makers? Add it up and Beacon Economics expects growth in the second half of the year to be in the 3% to 4% range—short We think the second. First, the slowdown in the recovery of some unlikely turn of events. It could end up being even in the second half of 2010 was largely driven by the sharp more robust if oil prices continue to fall. We also expect this slowing in the pace of inventory accumulation, combined momentum to carry into 2012, and that job growth will pick with weaker numbers for business investment. Consumer up again after a weak May and June showing, causing the spending and exports were actually bright spots in the unemployment rate to start to fall again, albeit slowly. economy—and the good news is that these forces, as long as they don't go away, should start to offset these other The US isn't completely out of the woods, and frankly the issues. gap between where the economy is and should be will likely close at best slowly. But its worth noting that for all the glum Consumers became the big negative in the first half of 2011, news,American's still enjoy one of the highest standards of for the reasons already noted. But the forces that weighed living in the world. Once in a while its worth counting your so heavily on consumers are already starting to reverse blessings rather than tallying your curses. themselves. Businesses are quickly catching up with orders REGIONAL INTELLIGENCE REPORT City of San Bernardino EDA Golden Bears Trampled by Longhorns After a major downturn like the Great Recession of 2008- 2009, it is natural to turn to self-reflection. For California, it is Real GDP Index healthy to take stock of what happened during the downturn, 1994 to 2010 why the Golden State was disproportionately affected, 180- and whether any actions might be taken to improve our --i' economic climate and avoid severe downturns in the future. 8 160- r However, many have interpreted the cyclical effects of this 11 of this recession as a signal of larger structural problems 140- in California's economy over the long-run. Some have = -r called California's economy "broken" and have pointed to 0 120- the performance of other states—most notably Texas—as evidence that California is losing a competitive battle with 100- other states. 1994 1996 1998 2060 2002 2004 2066 2008 2010 California Texas As is often the case, the media has seized on a few select Balance of United states statistics showing strong growth in Texas as evidence of Source:U.S.Bureau of Economic Analysis California's decline. Headlines such as "Texas adds jobs while California taxes them away,"' were suddenly filling half of this year a flurry of articles described how, "Low-tax daily newspapers across the state. This has added to the Texas beats big-government California."3 But, whether this paranoia that has existed for some time that California's is true depends on how one defines big government. When poor business climate is forcing firms to pack their bags and viewed as a percentage of the overall economy, it is true that leave the state in droves. Even our newly elected Lieutenant California does maintain a "larger" government than Texas. Governor headed to Texas to see how they've managed to However, when viewed in terms of employment, Texas get things so"right."2 actually has a larger government than California. Since 1997, state and local government employment as a share While it is true that Texas has outgrown California in of all workers has been consistently larger in Texas than in nominal terms since 1994, much of this can be explained California. by a stronger bout of inflation over this time period rather than rapidly expanding production and output. In real terms So what does this mean?Texas doesn't actually have small California has tracked economic growth in Texas quite government, they have cheap government. While California closely, despite contentions to the contrary. Both Texas AND expends a larger chunk of its economy on state and local California have consistently out-paced the rest of the nation government, the state of Texas has proportionally more in terms of economic growth. government workers. The cost of a government worker on average is roughly 54% higher in California than in Texas Part of the California vs. Texas narrative has focused on after accounting for benefits provided. This comes back to philosophical issues: Texas believes in small government the central difference between California and Texas: cost of while California is a big government state. Indeed, in the first living, something that is significantly higher in California. 1 Mark Hemingway,San Francisco Examiner,February 9,2011. 2George Skelton,Los Angeles Times,April 22,2011. 3Michael Barone, Washington Examiner,March 7,2011 REGIONAL INTELLIGENCE REPORT City of San Bernardino EDA Labor Market The second half of 2010 ended on a positive note for the City manufacturing production in the Inland Empire grew in July of San Bernardino's labor markets.' Nonfarm employment and is picking up steam.2 But at the same time, confidence rose for six consecutive months to end the year 1,300 jobs in the local economy among purchasing managers declined, above the post-recession low hit in June of 2010. Though which may result in a slowdown in hiring activity. But it is data for 2011 are not yet available, estimates based on important to highlight that the survey was conducted during trends in the wider Inland Empire predict slow growth in the the debt ceiling negotiations, and thus the negative outlook -n first half of 2011. Even with the recent growth, the city still may reflect the economic uncertainty during this period. N has a steep hill to climb. The process of returning to pre- recession employment levels will be a gradual one. Z Transportation and Warehousing Employment II" City of San Bernardino,Jan-07 to Jul-11 M Employment,All Industries m 4.5 Z t City of San Bernardino,Jan-07 to Jul-11 °o m 80- rn 4.0- 0 A � Q to 78- 3.5- eF °_ V 0 Q .76- 3.0- 2 s S 1 �.7a- W 2.5- Jan-07 00-07 Jul-08 Apr-09 Jan-10 Oct-10 Jul-11 K E 72- Transportation and Warehousing Lu Jan-07 Oct-07 Jul-08 Apr-09 Jan-10 Oct-10 Jul-11 •°^•••• Transportation and Warehousing Estimate ®Total Employment Note:Official employment data end in Dec-10.Subsequent values are estimated. Total Employment Forecast Source:California Employment Development Department Note:Official employment data end in Dec-10.Subsequent values are estimated. Source:California Employment Development Department Housing ,Market and Despite the slow pace of job growth, the economy is f r �°y generally recovering. In particular, real depreciation of the u<i I�'.<`�n q t°�e -T)I f s U.S. dollar has fueled strong foreign demand for exports. This has led to increased activity at Southern California The City of San Bernardino's housing market appears to ports since early 2010, and rising transportation and have stabilized in the past several quarters. Single-family warehousing employment in the Inland Empire. In the City home sales hit bottom in the first quarter of 2011 before of San Bernardino, the transportation and warehousing rebounding slightly in the second quarter of 2011. Home sector has been the strongest sector in terms of employment sales would likely have bottomed out earlier if not for the growth. This sector has been on an upward trajectory since massive government interventions of 2010. Federal tax late 2009. credits, low interest rates, and the continued willingness of the Federal Housing Administration(FHA)to make low down- Two other major employment sectors—manufacturing, payment loans to first-time homebuyers buoyed demand in and professional and business services—have also seen the short run. As these programs expired, home sales fell positive growth, though not as strong as transportation and in the city. But unlike the trend observed in the wider Inland warehousing. According to the Report on Business from Empire as well as in the state, home prices in the City of San the Institute of Applied Research at CSU San Bernardino, Bernardino actually rose slightly in the first half of 2011. cont d,page 4 'Unless explicitly stated,San Bernardino refers to the city,not the county. 2 Institute of Applied Research at CSU San Bernardino,http:/l a r.csusb.edu/reports/documents/ROBJUL2011 final.pdf,July 2011. c" REGIONAL INTELLIGENCE REPORT City of San Bernardino EDA Fewer properties are entering foreclosure in the city, but the Existing Single-Family Home Sales and Price stock of foreclosures already on the market has contributed City of San Bernardino,Q1-o7 to Q2-11 to neighborhood blight. Local officials plan to address the 3so- -1,000 problem in part through the Beautification Partnership on September 10, 2011. The cleanup will target 60 areas in -900 the city, with a team of 5,000 volunteers. The City of San "M r 250- N t Bernardino will contribute $45,000 of the $300,000 event, 0 -600 with the rest coming from donations.3 X150- One area that has seen very little improvement is new home -aoo a construction. Single-family home permits have languished 50- since the end of 2007.The number of permits did jump to 17 -200 in the second quarter of 2011, the first double-digit quarter > Q,-07 04-07 03-N 03-09 02-10 02-11 since 2007. But it is clear that builders are not yet ready Median Price Sales to resume home construction activity in the city—a trend �. Source:DataQuick that is likely to continue over the short run as they wait for household formation to pick up, the inventory of distressed properties to be absorbed, and general economic conditions There are several possible reasons for this uptick in prices. to see sustained improvement. Home affordability in Inland Southern California relative to the coastal areas has increased post-recession. Prices in the coastal areas are down from peak levels, but are still Defaults and Foreclosures high compared to areas like the City of San Bernardino. City of San Bernardino,Q1-07 to Q2-11 Thus,strong demand for housing in the city may be keeping 1'500 prices up. Migration from coastal Southern California may also be a factor. Despite the sharp declines in home prices 1000- along the coast, the relative price of San Bernardino is creating an incentive to move further east for larger and uQ, newer homes that come at a fraction of the cost of those in the major employment centers like Los Angeles and Orange 500 County. Finally, because prices are rising but sales are declining, there may be a shift toward higher-quality homes, _ which would drive up the median price. ° 01.07 04-07 03-08 03'09 Q2-10 02-11 The housing market is healthier now than it has been since Foreclosures Defaults the end of the recession. Foreclosures are still elevated Source:DataQuick in the city, but they have leveled off significantly since the beginning of 2010. More importantly, notices of default—the primary leading indicator of new foreclosures—have been falling steadily for the past two years. In the second quarter of 2011, there were 407 notices of default, the lowest level since mid-2006. 3Josh Dulaney,"San Bernardino Gears Up for$300,000 Beautification Day,"Redland Daily Facts,August 25,2011. REGIONAL INTELLIGENCE REPORT City of San Bernardino EDA Budget Concerns consumer - erlc As is the case in many California cities, San Bernardino has Consumers have started to regain their footing over the grappled with budget shortfalls.Though they make up a tiny past year. Since hitting bottom in the third quarter of 2009, portion of government spending, red-light cameras have taxable sales have followed a positive trend in the City of become a target for cities across Southern California. The San Bernardino. As of the first quarter of 2011, taxable city, which has been losing money on its camera program, sales were 14% above their low point. It is true that we are voted to end its contract with the camera operator three still significantly below peak levels, but it should be noted years early. The company is reportedly seeking a $1.8 that pre-recession spending was based on unsustainable million payment to terminate the contract.4 conditions—overspending in particular. Consumers have begun to save more and are settling into a more reasonable A larger battle looms over the state's plan to abolish spending pattern. Taxable sales would be improving more redevelopment agencies, a plan being fought by California rapidly if consumers returned to pre-recession behaviors, cities. Cities have the option of paying the state to continue but correcting bad spending habits now should set the stage operating their redevelopment agency—the City of San for sustainable growth in future years—growth that will be Bernardino would need to cough up $14 million this year based on solid fundamentals. and another $150 million over the next 30 years. The California Supreme Court recently agreed to hear arguments Third-quarter figures should get a boost from the 2011 challenging the state's plan to shut down redevelopment Western Regional Little League Tournament, which recently agencies.5 ended. The ten-day tournament was expected to be a boon to local businesses that would benefit from visitor On the revenue side, the San Bernardino County Assessor spending.6The tournament was broadcast on ESPN, and recently released the assessment roll for 2011, showing a local officials expect the exposure to have a positive impact 1.9% decline in the assessed value (AV) of property in the on the region's tourism sector.' city. Assessed value is important because it is the property tax base for the City of San Bernardino. Since peaking in 2008,total assessed value in the city has fallen by more than Taxable Sales,All Outlets 15%. However, the rate of decline was substantially lower in City of San Bernardino,01-07 to 01-11 2011 than it was in the previous two years. The decline in Boo- the City of San Bernardino was larger than the decline for all incorporated cities (0.7%) as well as for San Bernardino 700- County overall (0.9%). Given that prices have stabilized around current levels in the region and that neighboring S --i counties like Los Angeles actually saw increases in AV in o Boo 2011-12, most of the pain on the property tax front should E be behind the city. 500- Total Assessed Valuation City of San Bernardino 2007 to 2011 400- Year Vague Source:billions) Annual Chcl. Qur 0407 o3a o2os o1 to oa'io ce:California Board of Equalization 2007 11.3 2008 12.2 8.0% 2009 11.1 -9.0% 2010 10.5 .5.4% 2011 10.3 -1.9 G/a Source:San Bernardino County Assessor 4Alicia Robinson and Brian Rokos,"Red Light Cameras Hit Stop Signs in Many Inland Cities,"The Press-Enterprise,"August 8,2011. 5Jim Steinberg,"State Supreme Court to Hear Redevelopment Issue,"San Bernardino Sun,August 11,2011. 613rian Rokos,"Little League Tourney Boosts City's Image,Pocketbook,"The Press-Enterprise,August 4,2011. Andrew Edwards and Mediha Fejzagic DiMartino,"Businesses Welcome Little League Players,Their Wallets,"San Bernardino Sun,August 4,2011. MMOR BEACONECONOMICS About Beacon Economics Beacon Economics, LLC is an independent economic research and consulting firm with offices in Los Angeles and the San Francisco Bay Area. We deliver economic analysis that help our clients make informed, strategic decisions about investment, growth, revenue. policy, and other critical economic and financial issues. Our core areas of expertise include economic and revenue forecasting, market and industry analysis, economic impact studies, economic policy analysis. and international trade analysis. For more information go to www.BeaconEcon.com Los Angeles: 310-571-3399 San Francisco Bay Area: 415-457-6030 . Ec mic Deg n Agen�y� - r��r=� u !ttl �, l:titrcrt, tiuitc ill! • tiara [tcrnardino. C,1 }! t11 11C11 E ti:1 • 9U�) fii tU� • F.utaa inluC1sf�rc�a.arr� • �tir+��.st�rda.�r�; r ft #er ,at MCCICDC Mt Lltyl Agen 01 No: r�3 � ' t (ler CDC Secretary ISSUE "i San Bernardino ' -- • . - - - . JULY AUGUST 201 - BI-MONTHLY NEWSLETTER ON PLANNING Turning Around Downtown: OUR CITY DOWNTOWN CORE Create an Urban Entertainment District Inside this Edition Source:The Brookings Institute E Street Ticket: 12 Halfway through Christopher B Leinberger's Entertainment District are underway. Laugh Out Loud II: Comedy "Turning Around Downtown: Twelve Steps to Theater Square will include the renovation of Again Comes to San Bernardino 2 Revitalization," we provide an overview on public space and access to complement the Step Seven: Create an Urban California Theatre, a soon to be renovated Interim Transfer Center Makes Entertainment District — a focal point of movie theater, future shops and restaurants. Way for Future Development 3 current Economic Development Agency The District will also benefit from a (EDA) activities in Downtown San Streetscape Project, with water efficient Bernardino. According to Leinberger, urban landscaping, seating and complimentary Grand Re-Opening: Downtown entertainment venues and retail that are hardscape materials. In addition, the Welcomes Back McDonald's 3 within walking distance of one another must Interstate 215 Widening Project, sbX Bus be in place before households can be Rapid Transit Line, future Downtown Transit Stimulating Business: Office of enticed to move downtown. Understanding Center and Metrolink extension will help Business Development Workshops 3 which of the many urban entertainment improve mobility and accessibility to the options that have the greatest potential for District and other Downtown venues and Downtown success is a crucial first step. These can events. Annual events such as the St. Welcomes New Businesses 4 include: Arenas, Performing Arts Centers, Patricks Day Festival, and the grand daddy Stadiums; Movie Theaters; Restaurants; of them all — Route 66 Rendezvous—attract San BernarDEALios Specialty Retail; Festivals;the Arts and Night more than 600,000 people to Downtown. VIP Discount Card Program 4 Clubs. A tremendous amount of work is being done Upcoming Events 4 These urban entertainment concepts attract to put Downtown on the right path to a wide variety of patrons, yet can all be revitalization. In the coming months, you will _ accommodated within walking distance. The start to see the transformation of this area D O w N T O W N most important benefit of entertainment is to into an entertainment district that will get "feet on the street," especially at night. stimulate Downtown San Bernardino's San Bernardino Crowded sidewalks will signal an exciting economy. environment that draws people to the area. tEalll In the next issue of Downtown Vision,we will A rich yesterday driving momentum The good news for Downtown San review Step 8: Develop a Rental Housing today toward a brilliant tomorrow Bernardino is that current revitalization Market. efforts to create a successful Urban Page 2 DOWNTOWN VISION 1 E Street Ticket !AIJ_iH )IJT !)ID Il: ril� in�rnT�ni�� t i l n�_ �� i r �;irit�'in =1 r! ��,rrl'!r�Jir!� �6t� O U T t o Need a guide to entertainment in More than 20 notable comedians are taking split-top roll with mayo or oozing with butter Downtown? The Inland Empire Media the stage in Downtown San Bernardino next and delicious New England style clam Group (IEMG) presents "E Street Ticket" - month for the Showtime Laugh Out Loud chowder. Stella Pierre's is famous for grub your ticket to all things local, arts and Comedy Festival. After last year's inaugural like foot long Mutts (a.k.a hot dogs), entertainment in Downtown San Bernardino. success, San Bernardino's own Laugh Out "sammiches," hamburgers, and unique Loud Festival (LOL) is now considered a desserts like deep-fried Oreos and the Launched in Fall 2010, "E Street Ticket" seasonal favorite and the biggest event of Chocolate Bacon Bliss Cake. sets out to showcase concerts, theater the summer. performances, events, and festivals taking The high quality food truck vendors at the place along "E" Street. Lined with event and the large demand resulting from entertainment venues such as the California the success of St. Patrick's Day could help Theatre of the Performing Arts, Sturges IV,i support a movement that would allow Center for the Fine Arts, Arrowhead Credit i gourmet food trucks to operate in San Union Park, the National Orange Show Bernardino County. Currently, San Events Center and more, "E" Street is -4 Bernardino County Supervisor Janice Downtown's hub for entertainment. ,. Rutherford is championing these efforts. In addition, an outdoor stage will rotate all Limos - up at • night between LIVE stand-up comedy and • •by musical performances. Beer and wine will be sold to persons age 21 and over. Celebrating laughter, a sense of community and attracting 10,000 to 15,000 guests to the LOL's All-Star Comedy Line Up California Theatre of Performing Arts, this • Steve Trevino-Aug. 26 at 6 p.m. festival has become another local hit that . Anthony Clark-Aug.26 at 8 p.m. supports Downtown revitalization efforts and • Jay Mohr-Aug. 27 at 8 p.m. the Downtown Core Vision & Action Plan. LOL will feature four days of jaw-dropping, • Willie Barcena-Aug. 27 at 6 p.m. belly-laughing, tear-inducing comedy shows • Tommy Chong-Aug. 27 at 9:30 p.m. Aug. 25-28. Shows will be taped and aired . Rita Rudner-Aug.28 at 6 p.m. on Showtime. . Snoop Dogg, and more! Each month Nadia Gil interviews band ( Food Truck Festival on 4th members and show directors at local events An extension of LOL, the Food Truck and performances. Watch "E Street Ticket" Festival on 4`h is a great way to spend a -you'll always have a pulse for what is going weekend summer night in Downtown San on Downtown. Bernardino-plus, it's FREE and open to the IEMG is an entity of the City's Economic Public! On Aug. 26 and Aug. 27 event th Development Agency and "E Street Ticket" Planners are closing down 4 Street in front is one of numerous IEMG programs that of the theatre and rolling in many of your highlight the City's community events. To f food truck favorites featured at this year's St. Tom Arnold . • watch "E Street Ticket" and other IEMG Patrick's Day Festival, including the Lobsta'programs on television tune in to Channel 3, Truck and Stella Pierre's Gourmet Grub. F3ho�916vifpul Alvarez or call your local provider for channel For the full LOL Line Up, ticket packages information, and prices, visit the Ticketmaster web site at www.ticketmaster.com, or visit the California Prefer to watch episodes online? Visit --- Theatre of the Performing Arts Box Office -. IEMG's YouTube site at website at www.californiatheatre.net, or call www.youtube.com/iemediagroup. or visit (909)885-5152. and "Like" IEMG's Facebook page at www.facebook/iemediagroup. f The City of San Bernardino Economic Development Agency (EDA) would like to If you have "E Street Ticket" show ideas, ^- thank its partners, the California Theatre of the Performing questions or comments, please contact r' g Sturges Center for The Nadia Gil at (951) 217-3143 or Fine Arts and the San Bernardino gilnadiac(a gmail.com. And in the words of • • Convention and Visitors Bureau (CVB), for Nadia herself, "Stay cultured, my friends." I • organizing the Downtown San Bernardino I Laugh Out Loud Festival and the Food Lobsta' Truck is known for its mouth Truck Festival on 4". watering fresh lobster meat on a toasted i JULY AUGUST2011 OWNTOWN VISION Page {rli1,rirrl 'fr_IrI fe'r ��.,�rli�� Stimulating Business: 1Z) ..��C��ir.li�f�n�_ 00MINITRANS With an eye toward the future, Omnitrans is rapid transit service, sbX" said Omnitrans The mission of the Office of Business temporarily consolidating its Downtown bus CEO/General Manager Milo Victoria. "We } Development (OBD) is to promote business stops to 4th Street, between "F" and "G" look forward to revolutionizing the way our development through retention and Streets and along "F" and "G" Streets community gets around San Bernardino in { expansion programs. OBD is located at between 4th and 5 Streets. The move will 2013-14, when Omnitrans' permanent new 201 North E Street, Suite 200. To schedule allow customers convenient access to 16 San Bernardino Transit Center is completed or attend a business workshop, contact Omnitrans routes and create space for new at Rialto and E Streets, and sbX service ( Monique Fell, Business Solutions projects to take shape in the city. begins." Coordinator, (909) 963-5026, or visit www.sbbizresource.com. Offerings through "This temporary 4th Street Transfer Center Service to the 4th St. Transfer Center October 2011: will enhance accessibility for our customers begins on Tuesday, September 6. For —but just as importantly, it clears the path for more information,go to www.omnitrans.org. Internet Presence construction of our new state-of-the-art bus Alternatives for Small Business Tuesday,August 16, 6pm—8pm Facebook for Beginners Wednesday,August 17, 9am— 12pm © QuickBooks Advanced Tuesday,August 23, 9am—12pm Stater Bros. Integrating Social Media into Your Marketing Plan I NMI its Thursday, September 8, 9am—12pm i ThBIltIP Boost Marketing Results y ti Using Social Media CZ u- Wednesday, October 12, gam—12pm Fourth Street Transfer Center CITY O Office of Business LAI Development Carousel Mall Colored numbers signify the bus stop location for the corresponding route. rrlJ D_Ic,i 1DI(T After a few months of construction, The decor reflects a natural feel with softer McDonald's reopened its new and improved colors and materials. Other improvements _ ; =♦ n► restaurant on the corner of 2nd and "G" include a new drive-up ordering Streets in Downtown. The new McDonalds configuration, parking, sidewalks, curbs, and features a contemporary interior and exterior gutters. with free Wi-Fi for customers. 21st Annual Stater Bros. Route 66 Rendezvous, September 15-18, 2011. Visit www.route-66.orcl for more information. Court Street Square Community Concert Series f) Every Saturday through September. Go to www.courtstreetsquare.com for JJiICi-igri' i lflejr�orrI='I I' eye more information. �!{�IC!ei;i;ei; L% Downtown Marketing Advisory Committee Meeting Wed.,Aug.24, 2011, 3pm-4:30pm Office of Business Development New retail, dining and professional services purchase of a General Affair Package. 201 North"E"Street, 2nd Floor in Downtown are primed for growth. These San Bernardino businesses are excited to be a part of our Olaiz Hair Salon is a full service salon for changing community—and they are ready to the whole family! Offering cuts, color, styling, Wed., Sept.28,2011, 3pm—4:30pm meet you. Check them out! nail services and more, Olaiz will take your San Bernardino History looks to the next level! 1136 North Mount & Railroad Museum-Santa Fe Depot Cali Taco serves Downtowners deliciously Vernon, Suite 301, (909) 763-2722. VIP � ' 1170 W Third Street authentic dishes! Head there for breakfast, Card DEALio: FREE Keratin treatment, cut San Bernardino lunch or an early dinner and enjoy tacos, and style with any chemical service burritos, and more! 370 West Court Street, (including color, perm, highlights and peek-a- Laugh Out Loud Comedy Festival (909) 386-9200. VIP Card DEALio: 20% boos) (J August 26-28,2011 OFF Ticket Price California Theatre Chilito Pica Limon offers delicious ' Photoaffair, previously located inside the Raspados and fruit cocktails using real fruit City of San Bernardino Inland Center Mall, Photoaffair's studio is and fresh ingredients. The Bionico, a Beautification Partnership now on E Street! Photoaffair captures delightful mix of yogurt, ice cream, fruit, whip Saturday, September 10,2011 unforgettable moments creatively at the cream and granola, is a must-have! Also on Volunteers appreciated. For more highest quality and most affordable prices. Chilito's menu, tortas, sandwiches, hot dogs, information, call (909)384-7272 965 South E Street, Suite G, (909) 440- tostadas, taquitos and more! 985 South E 9686. VIP Card DEALio: One FREE 8x10 Street, (909) 885-1700. VIP Card DEALio: 21st Annual Stater Bros. Photo and FREE Blemish Removal with the Buv one medium Raspados, get one FREE! Route 66 Rendezvous September 15-18, 2011. �►- DOWNTOWN Go to www.route-66.org for more = �_u wiz, information i rrJ r F rri San Bernardino �iri r�J�y San BernarDEALios VIP Card Questions or Comments? Surely you have heard of San San Bernardino on board with a VIP The Downtown Core Vision & Action Plan BernarDEALios by now... Perhaps you've Discount Card in hand or attached to Newsletter is prepared as part of the public seen a San BernarDEALios table at Molly's, their keychain. We encourage you to outreach effort to inform the community about along Court Street, or at the Inland Center stop by our VIP table when you see us. the City of San Bernardino revitalization efforts Mall. Nearly 70 Downtown businesses, Say hello, sign up for a card, and start taking place. If you have any questions or restaurants, entertainment venues, and retail saving today! We repeat — there is no comments, please contact the Project stores offer San BernarDEALios. catch. Manager: These are tailor-made discounts offered To find out more about San BernarDEALios Jeffrey Smith,AICP exclusively to San BernarDEALio VIP Card please visit the all-things Downtown j Senior Urban Planner holders. Led by the City of San Bernardino Website at City of San Bernardino Economic Development Agency, this www.DowntownSanBernardino.org or post Economic Development Agency revitalization program aimed at supporting to our Wall on Phone: (909)663-1044 local businesses is growing by the day. www.facebook.com/DowntownSanBernardi E-mail:ismithC@sbrda.org Unlike other discount card programs, no. Please remember to "Like" the page with San BernarDEAlios there is no catch, when you visit. For public relations & marketing inquiries, no cost, no kidding. The program is open please contact: to the public and free to join! To request a card in the mail or if you are a business owner interested in becoming a Carrie Gilbreth In the coming weeks and months you'll see VIP Hotspot, please contact our Downtown Westbound Communications us out and about Downtown during lunch liaison, Kelly Koehler, at (909) 886-8188 or Phone: (909)886-8188 and at events staffing community outreach kkoehler CcDwestoundcommunications.com. E-mail: tables. Our goal? Get all Downtowners cgilbreth(o-)westboundcommunications.com who live,work and play in Cheers! To Downtown! Para informacion en espanol: f� gm sobre planes de revitalizar el centro de Sar Bernardino, por favor de contactar a Roberto Cheve: �~ por telefono,909-886-8188,o por correo electronico, ,1, 1 1,, rchevezCa)westboundcommunications.com I W