Our Prosperous Community National League of Cities May 19, 2011

Our Prosperous Community

National League of CitiesMay 19, 2011

• Before Proposition 13, local property taxes provided stable funding source for local services.

• After 1978, cities pursued sales tax revenue instead.

California chases sales tax


• Sales tax “piracy” eroded overall revenues; Internet and Great Recession did too.

• Ventura was reluctant, but successful competitor.

Limits to a zero sum game


• While not the dominant sales tax generator, a revitalized Downtown has anchored Ventura’s renaissance.

• Long-term public private partnership.

Downtown success story


• 2005 General Plan marked clear policy shift toward promoting businesses that produce high quality jobs.

• Strategy remained focused on sales tax.

“High wage, high value jobs”


Jobs and Investment Fund• $5 million

earmarked for long-term economic development.

• Unique initiative for raising Ventura’s profile as location for high tech business.


Ventura Ventures Tech Center


• Housing meltdown and business shrinkage hammered City revenues.

• Time for bold action.

Great Recession: Reality Check


• City and Chamber forged close partnership.

• Challenge to community to embrace shared commitment to standard of living and quality of life.

Economic Summit


• Looked at various models.

• Focused on collaboration, coordination and shared partnership.

Prosperity Council


FY 07-08 Comparison Sept Dec Mar Scale

A > 18.70

Ventura's share of the County's assessed property value B = 18.33Target (2% increase over 11.7% 2007 baseline) NEW C > 17.96Actual per County Assessor D > 17.59Variance

Ventura's share of County's high value/wage jobs A > 12.45Target (2% increase over 12.2% 2005 baseline) 12.45% 12.45% 12.45% 12.45% B = 12.20Actual per UCSB calculations 13.77% 14.82% 14.82% Pending C > 11.95Variance 1.32% 2.37% 2.37% D > 11.72

Ventura's share of total County's gross product A > 17.21Target (2% increase over 16.87% 2005 baseline) 17.21% 17.21% 17.21% 17.21% B = 16.87Actual per UCSB calculations 16.54% 16.75% 16.75% Pending C > 16.53

Variance -0.67% -0.46% -0.46% D > 16.19

Ventura's share of total County's retail sales A > 19.98Target (2% increase over 19.59% 2005 baseline) 19.98% 19.98% 19.98% 19.98% B = 19.59Actual per UCSB calculations 19.41% 18.91% 19.33% Pending C > 19.19

Variance -0.57% -1.07% -0.65% D > 18.80

Ventura's share of County's TOT A > 23.75Target (2% increase over 23.28% 2006 baseline) 23.75% B = 23.28Actual 25.78% C > 22.81Variance 2.03% D > 22.34

OUR PROSPEROUS COMMUNITY

• Tech; “green” and “creative” sectors seen as opportunities for catalytic growth.

• No neglect of broader economy.

Emerging job sectors


• Ombudsman: symbol of business-friendly focus.

• Streamlining permitting.

• New Hospital approved without opposition.

A healthy business climate


• Robust business assistance initiatives.

• Aiding local business to locate and to grow.

Supporting local business


• Technology incubator grows to 17 businesses and 51 employees.

• First “graduate.”• Building “network”

of business, finance and academic resources.

Tech business and jobs


Green business and jobs


• Building on City’s long-term “arts city” strategy.

• WAV• Ventura

Sustainability Center model.

Creative business and jobs


• Restaurant Week; Music Week and other promotions.

• Ventura Sustainability Center model.

Creative business and jobs


• Emphasizing the link between standard of living and quality of life.

• Finding the “glocal” balance in the global economy.

Live Local campaign


• Part of the ABCs of Ventura government.

• Integrating economic and community development.

Civic Engagement


“The fact that council is supportive of the action items and that they’re committed to being proactive is a real win-win,” she said, adding that she was “thrilled at the number of good people who are here. This is just the beginning.”

Chamber President, VC Star

Thank You and Questions


Documents

Our Prosperous Community National League of Cities May 19, 2011