Annual Report
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FOSTERING downtown FINANCING downtown BOARD OF DIRECTORS The non-profit 501(c)(3) Downtown Sacramento Foundation (DSF) supports programs Downtown Sacramento Partnership manages a budget of $5.7 million and that complement Downtown Sacramento Parternship priorities to improve the receives the majority of its operating budget from property assessments. economic, physical, cultural and social environment that fosters civic pride. 2018 DOWNTOWN PARTNERSHIP OFFICERS PAST CHAIR Bob Cook, Cook Endeavors David Taylor, David S. Taylor Interests 2018 DOWNTOWN SACRAMENTO FOUNDATION OFFICERS 53% VICE CHAIR PUBLIC SECTOR REPRESENTATIVE Randy Koss, Fulcrum Property Howard Chan, City of Sacramento DIRECTOR SECRETARY OFFICER Joe Coomes, BBK Law Erika Bjork, Matters of Import, LLC Property A 14% ps sse shi (P sm Denton Kelley, LDK Ventures, LLC Steamers r BI e Janie Ison, so D) n n t SECRETARY DIRECTOR o s p S TREASURER EXECUTIVE DIRECTOR Denton Kelley, LDK Ventures, LLC Lloyd Harvego, Harvego Enterprises G 3% r Sandy Sharon, Kaiser Permanente Michael T. Ault, Downtown Sacramento Partnership a e n u t TREASURER DIRECTOR n s e v Where do e Paul Faries, JMA Ventures Shirley Kwan Smith, SKS Communications R d 13% e operating funds B n u r s 27% a i n E come from? 37% e s ( B s I e A A c nt 3% e i v ) E s l v a s i r c AT LARGE DIRECTORS e e ing e p m s m S S a s r g M m r o a o r e S f i Golden 1 Credit Union , Sacramento Police Department n P , Capt. Norm Leong a n Douglas Aguiar CALLING ALL DREAMERS Wrapping its sixth year of competition, Calling All Dreamers helped another class of P t s s f t r e t o e c g t r a a y n m r g n m i t C n P a o entrepreneurs to realize their dream of opening a business in downtown Sacramento. o l C l a 11% r n , Broadway Sacramento b Sacramento Metro Chamber Richard Lewis o , e r v i a t Amanda Blackwood o c t g e Finalists received business coaching and the winner, NEO Escape Rooms, won a start-up n r 3% a e & m , Rubicon Partners Henry Li, Sacramento Regional Transit m Kipp Blewett package valued at more than $100K with the resources and tools needed to start o¥ on s p g How did o n l i t the right foot. e , Hines Dorla Licausi, Macy’s e Nico Coulouras v k e r we put your a D Delfi no Madden O’Malley Coyle & Koewler LLP Frankie McDermott, SMUD M , s Chris Delfi no s 21% investment & e n S 20132018 ATAGLANCE i Sacramento Housing & Redevelopment Agency , Miry Development o , Bay Miry s LaShelle Dozier c u to work? i B a l NEW BUSINESSES 21 S Paul Faries, JMA Ventures Moe Mohanna, Western Management e 3% r v i c e Fat Family Restaurants , Sacramento Kings s Kevin Fat, John Rhinehart n Andy’s Candy Apothecary The Workspace o i t a r t 20K s 94 i n i m d The Dailey Method Figs and Feta A Jason Go , CBRE Wendy Saunders, CADA Sun & Soil Juice - 3 locations Oblivion Comics & Coffee , County of Sacramento 12% Lyman Gray, California State Parks Supervisor Phil Serna Benjamins Shoes Flakos Tacos - 3 locations , City of Sacramento Mayor Darrell Steinberg, City of Sacramento Ana Apple Studio Fig Vice Mayor Steve Hansen SacTown Bike Bus Tours Burly Beverages Lloyd Harvego, Harvego Enterprises Michael Testa, Visit Sacramento SF JOBS Metro Kitchen + Drinkery The Kitchen Table Tsakopoulos Investments RETAIL SPACE CREATED Michael Heller, Heller Pacifi c Inc. Angelo G. Tsakopoulos, NEO Escape Rooms The Allspicery Shelf John H. Hodgson, The Hodgson Company Stan Van Vleck, Downey Brand 2018 Winner Whired Wine ASSETS Daniel Kim, State of California Scott VandenBerg, Hyatt Regency CURRENT ASSETS CURRENT LIABILITIES Cash and Equivalents $1,171,765 Accounts Payable $166,939 OLD SACRAMENTO WATERFRONT HOUSING FIRST Accounts Receivables $336,334 Accrued Expenses $509,704 Related Party Receivables - Other Liabilities $22,609 A coordinated e¥ ort by public and private partners DSF’s fi rst fundraising e¥ ort around #GivingTuesday raised Prepaid Expenses $121,621 Deferred Revenue $56,618 created a new brand identity for the area that embodies $15,000 for Sacramento Self Help Housing’s programming Other Current Assets $221,487 Capital Leases $4,495 the energy and excitement swirling in the historic district and housing assistance for the homeless. Total Current Assets $1,851,207 Total Liabilities $760,365 located on the City’s waterfront. Property and Equipment, Net $425,963 Other Assets $, NET ASSETS Total Assets $,,¡¢ Unrestricted $566,183 Restricted $535,441 Temporarily Restricted $352,423 Total Net Assets $¥,¦§¦,¢¦ Total Liabilities & Net Assets $,,¡¢ Audited fi nancial statement, Brown, Fink, Boyce & Astle, LLP, 2017. Partnership Sta¥ PHOTO CREDITS Downtown Sacramento Partnership is a property-based improvement Printed December 2018. Information in this report was based on the best available data 92% at the time of printing. The data presented in this report is derived from many sources Peter Agerton Ken Raif district (PBID) dedicated to building value in Sacramento’s urban core. 2018 including CoStar, Axiometrics, Motionloft, WalkScore.com, reports by the media and Andre Elliott Sarah Maren BUSINESS OWNERS Downtown Partnership promotes public/private partnerships to diversify information collected directly from organizations, where available. Visit DowntownSac.org Fred Fune Jaafar Mirlohi SATISFIED WITH OUR SERVICES for more publications from Downtown Sacramento Partnership. the local economy and enhance the downtown experience. Daniel James Nicholas Wray Annual Report Alina Tyulyu Curtis Yee 980 9th Street, Suite 200, Sacramento, CA 95814 | T 916-442-8575 | F 916-442-2053 | DowntownSac.org + GoDowntownSac.com | @DowntownSac POSITIONING downtown YEAR IN REVIEW downtown WELCOME downtown EVENT ATAGLANCE OUR SIGNATURE EVENTS ATTENDANCE In 2018, Downtown Sacramento Partnership prioritized economic 66 downtown. assistance to support downtown housing, environmental improvements to COMPLETED BLOCKS maintain a welcoming downtown and strategic development to activate KAISER PERMANENTE GUIDES WALK WE SPENT It’s truly inspiring to recall all of the remarkable the Old Sacramento Waterfront. DOCO MEDICAL OFFICES achievements we saw come to fruition in 2018. 33K+ MILES 26K+ HOURS $109M project cost 13.5K DURING THE YEAR CLEANING DOWNTOWN Everywhere you look, new projects and burgeoning 210K SF DINE retail and entertainment experience are breathing ECONOMIC ASSISTANCE • Created a housing working group that identifi ed net zero fees on a¥ ordable 500 jobs DOWNTOWN energy and life into downtown. K Street is becoming 7.1M 6.5M one of Sacramento’s greatest success stories. housing that was adopted by the City. VISITORS • Championed a standardized and expedited plan check process by the City’s SF OF LAND The economic activity and impact spurred by the Golden 1 Center continues to transform Planning Department for central city housing projects, including the addition of the area surrounding it. Downtown Commons (DOCO) has attracted national and local ¯ new sta¥ to streamline the permit and plan review processes. 212 206 retailers back to downtown, while pop-ups provide opportunities for entrepreneurs to • Advocated for the City to increase housing resources, culminating in the LOCAL VENDORS test their concepts. Just as important, the completion of DOCO has also reconnected creation of two new housing focused positions. EVENT DAYS & ARTISTS 40K downtown with the City’s historic waterfront. 3.24M 587.3K ENVIRONMENTAL IMPROVEMENTS ST. PATRICK’S • Collaborated with the City and County to ensure a coordinated launch of TOTAL Complemented by the renovation of the Front Street Embarcadero, more people have ATTENDANCE DAY PARADE access to experience the waterfront than we’ve seen in generations. We’ve been Pathways to Health + Home. 1.2M able to activate the area with new events and activities from yoga to dancing, holiday • Developed a platform for property owners, City sta¥ and key stakeholders 24.8M celebrations and more. Capitalizing on this excitement, we also launched a new logo to collaborate around solutions to homelessness. SF OF and brand identity for the historic district – Old Sacramento Waterfront. Since the brand • Served as credible and experienced resource on solutions to BUILDING launch in August, digital traª c has jumped nearly 30 percent and pedestrian activity has homelessness for downtown property owners. SPACE increased by 26 percent. STRATEGIC DEVELOPMENT SACRAMENTO CONVENTION CENTER Downtown is bustling with activity from morning to night. Kaiser Permanente’s new state- • Collaborated with stakeholders to initiate development of a new Old 1.5M COMMUNITY CENTER THEATER MEMORIAL AUDITORIUM of-the-art medical oª ce building at 501 J Street and half a dozen new employers have Sacramento Waterfront governance structure, consolidating duplicative PEDESTRIANS K & 10TH 239.5K added thousands of new users to downtown. roles and responsibilities. PEDESTRIANS K & 7TH FARMERS’ • Assisted in RFP selection and review for the North Public Market, moving MARKETS 1M+ GUESTS New restaurants are opening at a dizzying rate, representing a growing and impressive closer to development of long-term lease strategy following renovation. display of culinary talents. Our vibrant art scene has created more than a dozen selfi e- • Created a cohesive and consistent new brand identity refl ected throughout 150+ 92 372+ EVENTS worthy backdrops across downtown and our events continue to break attendance 190 the Old Sacramento Waterfront. WALK SCORE records. PROPERTY GOLDEN 1 OWNERS CENTER EVENTS 11TH & L PEDESTRIANS L & 11TH For its 27th season, we expanded the Downtown Sacramento MANAGING THE PUBLIC ENVIRONMENT Ice Rink to increase skater capacity and provide an improved experience for skaters and bystanders. The rink’s new shape 70K also inspired us to evolve its logo to embody its improved The Public Space Services team works seven days a week to make CONCERTS “look” and orientation to one of the most transformed blocks downtown neighborhoods some of the cleanest and safest in the region.