Restoring blighted areas is often economically infeasible for the private sector to do on its own. The initial community improvements made by redevelopment agencies, coupled with their commitment of funds and low-cost financing, reduce the cost and risk factors associated with these projects. In essence, redevelopment agencies make these projects more attractive and economically feasible for the private sector to undertake.
Current and Future Redevelopment Development Projects
The City’s primary goal is to maintain a diverse and stable fiscal and economic base through the established economic development projects listed below.
The Redevelopment Agency of the City of Seaside plays a key roll in stimulating economic development through the use of various tools. Specifically, redevelopment agencies encourage private investment by:
• Assembly/acquisition of project sites and making those sites ready for private redevelopment;
• Building or rehabilitating area infrastructure such as streets, sewers and water lines in order to make revitalization projects attractive and feasible;
• Issuing low-cost loans or grants to small businesses that pay for physical improvements to their properties;
• Clearing an area of existing blight or environmental hazards that make projects too costly or unattractive to the private sector;
• Making quality of life improvements by building libraries, parks and community centers. Improving public safety and reducing crime by building police and fire stations; and
• Building affordable housing, helping low- and moderate-income individuals become new homeowners, or funding rehabilitation of existing housing for working families.
Redevelopment activities generate jobs and economic activity that provide tremendous benefits to California and local economies:
• In 2006-2007, redevelopment activities in California generated $40.8 billion in economic activity such as the generation of goods and services;
• Redevelopment supported nearly 304,000 new full- and part-time jobs in just one year (2006-2007);
• Every $1 of redevelopment agency spending generates nearly $13 in total economic activity (goods and services) in one year; and
• In 2003, redevelopment agency construction activities helped generate more than $2 billion in additional state and local revenues.
Business Assistance Programs
Grow Seaside Small Business Loan Program
The Grow Seaside Fund is a unique economic development partnership between the City of Seaside and the National Development Council's Grow America Fund, Inc., an approved Small Business Administration lender. Loans on favorable terms can be secured from $25,000 to $2,000,000 for qualifying local firms.
To qualify for a loan, the business must engage in a legitimate for-profit business activity and have the ability to create permanent jobs in the community. The fund can finance healthy, successful small businesses that need expansion capital to reach their full growth potential.
Additional information is available in the program brochure, front and back. Further details may be secured by contacting the Redevelopment Agency staff at Seaside City Hall.
Commercial Façade Improvement Program
Seaside’s Commercial Façade Improvement Program provides funding for business façade repair and rehab. Business owners and tenants of commercial property in the eligible areas of downtown Seaside are eligible to apply.
Funds can be used for any of the following:
- Storefront renovation, such as signs, doors, windows, awnings, graphics, exterior lighting, and landscaping;
- Capital improvements, such as parking lot rehabilitation, and sidewalk repairs;
- Roof replacement/repair and decorative fencing and parking lot landscaping (under certain conditions); and
- Professional, legal, and architectural fees.
All improvements must be completed by a licensed contractor.
Improvements costing over $500 are eligible for a rebate when approved in advance by the City. The City will pay for the lesser of 50% of the total eligible improvements or the amount shown on the chart below.
|Total Feet of Storefront
|76 or more
Applications will be considered on a “first come, first served” basis. Please submit the following documents to Redevelopment Agency staff:
- Commercial Façade Improvement Program Application
- One recent (3” x 5” minimum) color photograph of the existing storefront
- Three contractor bids supporting estimated total project cost.
An application form and additional information can be secured here or by contacting the Redevelopment Agency staff at Seaside City Hall.