The City of Rancho Cordova is committed to providing a business-friendly environment that fosters community growth and prosperity. The City is proud to offer the following development incentives for a variety of projects.
Development Impact Fee Deferral Program
In order to help stimulate economic development and be responsive to the needs of our customers, the City of Rancho Cordova is offering a fee deferral program for residential, commercial and industrial projects. Rather than requiring developers to pay all “development impact fees” at the time a building permit is issued, developers may request approval to defer the payment of select impact fees. The deferral is intended as a temporary response to the current housing market slump, and as such, will expire on June 30, 2010.
Use the following links to download a program overview and application:
Fee Deferral Program Overview
Non-Residential Fee Deferral Application
Residential Fee Deferral Application
Statewide Community Infrastructure Program (“SCIP”)
Allows property owners to obtain financial assistance for non-residential development impact fees associated with infrastructure. SCIP issues tax-exempt revenue bonds and uses the proceeds to finance development fees. Developers can make use of an impact fee reimbursement program or an impact fee prefunding program.
SCIP Overview; www.cacommunities.org
Enterprise Zones/LAMBRA
Mather Air Force Base is part of a Local Agency Military Base Recovery Area ("LAMBRA")/Enterprise Zone. Various incentives supporting the location, expansion, and retention of businesses are available. Examples include: a tax credit of $36,000 or more over five years for each qualified employee hired, sales tax credits on purchases of up to $20 million per year of qualified machinery and parts and below market site and/or leases.
California Association of Enterprise Zones
Historically Underutilized Business (HUB) Zone
The HUBZone Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. Mather Commerce Center and other ares of Rancho Cordova are part of the zone.
HUB Zone Website
Recycling Market Development Zone (RMDZ)
The Sacramento Regional RMDZ encompasses Sacramento County, including all of Rancho Cordova. This program combines recycling with economic development to fuel new businesses, expand existing ones, create jobs, and divert waste from landfills. This program provides attractive loans, technical assistance, and free product marketing to businesses that use materials from a waste stream to manufacture their products and are located in a zone. In addition to loans, the CIWMB offers free product marketing through the RecycleStore.
RMDZ website: Including program specifics and other regional incentives and programs
RMDZ Website
Industrial Development Bond (IDB) Financing for Manufacturers
IDBs provide manufacturing and processing companies low-cost, low-interest financing for capital expenditures. The borrower must be a "manufacturing company" requesting from $1 million to $10 million. Manufacturing businesses are essential to the local economy because they increase employment opportunities by creating new, good paying jobs and increase local tax revenue.
IDB Program Website
Employment Training Panel (ETP)
ETP is a business and labor supported state agency that assists employers in strengthening their competitive edge by providing funds to off-set the costs of job skills training necessary to maintain high-performance workplaces. Employers match training funds awarded by ETP for training existing workers, making these projects true public-private partnerships. ETP also funds training for unemployed workers and prioritizes small businesses and employers in high unemployment areas of the State.
ETP Website
Sacramento Employment and Training Agency (SETA)
SETA is been an effective force in connecting people to jobs, business owners to quality employees, and hope to many Sacramento area residents. Sacramento Works provides the following services: job posting, customized recruitment events, applicant screening services, job fairs, skills assessment, tax credit and labor market information.
SETA Website
Sewer Credits
The City may be able to offer sewer hookup fee incentives for certain projects.
See also Sacramento Regional County Sanitation District
Project Assistance
The City’s Economic Development Team is available to assist with development at any stage of the process. Services include: business resources, single point-of-contact, site selection assistance and fast-tracking a project. Please call us at (916) 851-8700 or email econdev@cityofranchocordova.org.