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July 17, 2014
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Truckee OKs funds for economic development projects

TRUCKEE, Calif. — Creation of a business hub and further Truckee River restoration are among economic development projects recently approved for funding.

Truckee Town Council last month OK’d several applications through its Economic Development Support and Economic Development Fund programs, which are aimed at increasing the town’s tax base, diversifying the local economy and promoting and marketing Truckee as businesses-friendly.

The Fund program had $2.4 million available, and $235,000 was set aside for Support. In all, project applications requesting $5.5 million and $390,000, respectively, were received.

The following were approved because they “met program guidelines and were supported by a number of specific policies,” said Alex Terrazas, assistant town manager.

SUPPORT APPLICATIONS APPROVED

• Truckee Chamber of Commerce Place Based Marketing and Branding Campaign: up to $118,000 ($43,000 to create a Tourism Businesses Improvement District and $75,000 for Placed Based Marketing). A TBID would be a small assessment on sales such as room nights, with funds dedicated to tourism promotion. The TBID grant will allow the chamber to work with a consultant for education, outreach and consensus building among the lodging community, among other things, estimated to be an eight- to nine-month process. The second grant is for an integrated place-based marketing and brand campaign for Truckee.

• Sierra Business Council Innovation Hub: $50,000, plus rent subsidy for up to three years. The Hub will provide a shared work space and one-on-one businesses advisory services such as financial planning, training, accounting, marketing, operations, cash flow planning and feasibility analysis. In addition, free and low cost workshops and classes will be offered.

• Nevada County Economic Resources Council Targeted Business Recruitment Program: $10,000. This effort will target existing businesses where a direct connection with Truckee’s attributes can be made with the company or its founders and support the town’s economic development goals and policies.

• Mountain Area Preservation Wild and Scenic Film Festival: $8,000. This funding will help bring a Wild and Scenic Film Festival to downtown, which will showcase films on topics such as climate change, conservation and wildlife.

FUND APPLICATIONS APPROVED

• Reclaiming the River: $310,000. The Truckee River Watershed Council and the Truckee Donner Land Trust would partner with the town to acquire riverfront property between Donner Creek and Trout Creek. The partnership would seek willing sellers of Truckee River flood plain and river setback portions of private property, with priority given to properties where the partnership would result in redevelopment of blighted properties and/or the conversion of uses incompatible in the river corridor, to uses that support the Downtown Specific Plan and River Revitalization Strategy.

• Dickson Realty Real Estate Center: estimated $70,000-$90,000. Funding would go to purchase right-of-way for a future roundabout to replace the signal at the Donner Pass Road/Northwoods intersection.

• The Cellar at the River Street Inn: not to exceed a $80,000 forgivable loan. Funding would go to constructing a sidewalk and ADA improvements in front of the River Street Inn and along the west side of the building. Improvements are conditional of approval with opening of a new riverfront restaurant at the Inn.

• Trout Creek Pocket Park: $50,000. Funding would go toward constructing a less-than-1,000-square-foot park at the corner of Jibboom and Bridge streets, spearheaded by Mountain Area Preservation.

• Old Truckee Jail Museum Mini Pocket Park/Driveway Improvements: not to exceed a $30,000 forgivable loan. Funding would go to improving the driveway and walkway area leading into the garden area behind the Old Jail. This project would also create a new public space and mini pocket park for Jibboom Street.

While the town is not accepting additional requests for funding, six previously submitted applications are on hold for future consideration as additional information or project modifications become available, Terrazas said.


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Tahoe Daily Tribune Updated Jul 17, 2014 04:39PM Published Jul 21, 2014 09:58AM Copyright 2014 Tahoe Daily Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.