Sales Tax Reimbursement Program Update
Led by Mayor Tim Sbranti, the Dublin City Council approved a Sales Tax Reimbursement Program on January 6, 2009 to help reinvigorate economic vitality in the city of Dublin. The Program provides businesses that bring $100K+ of new sales tax revenue to Dublin with a 0.5% sales tax credit for 5 years to help pay for tenant improvements. The goal of the Sales Tax Reimbursement Program is to kick-start Dublin’s economy by attracting new businesses, encouraging existing businesses to expand, bringing new jobs to Dublin, and revitalizing the historic commerce centers in Dublin.
The Council just recently approved the Sales Tax Reimbursement Program’s first agreement with Ring Properties on May 5th. Ring Properties – owner of the 580 Executive Center at 11501 Dublin Boulevard in west Dublin – just inked a 10-year lease with Fortune 500 titan Graybar Electric. In addition to a bounty of new sales tax revenue, Graybar is expected to bring 50 full-time jobs to Dublin.
As part of the lease agreement, Ring Properties will be making $632,500 worth of interior improvements, exterior renovations, and traffic improvements (e.g., a traffic light) to accommodate the bounty of customers expected to visit Graybar’s site. The cost of these improvements will be fully reimbursed through the Program assuming that Graybar Electric can bring in at least $127M of taxable revenue over the next 5 years.
Kudos to the vision and tenacity of the Dublin City Council and Staff for making this program a success.
3:07 PM on May 16th, 2009
I don't know how this incentive program positions us against neighbors Pleasanton & San Ramon but am happy to hear that the mayor is taking some action to attract business. I'd be interested to hear what the other nearby cities are offering. In any event, glad to hear that Graybar will have a presence here, albeit with a modest 50 jobs.
Also, does anyone know if Fluor (#148 on 2008 Fortune 500…Graybar was #455) has opened up it's office in Dublin? This was meant to bring approx 100 jobs to the city.
8:47 AM on May 18th, 2009
John, totally unrelated to this topic, but I noticed in the last City meeting there was a discussion as to the mayor needing to have a meeting on the new county court house that is supposed to be on Gleason Dr. I was wondering if there is a time frame for this new courthouse. It seems as though this has been in the planning stages for a long time.
11:50 AM on May 18th, 2009
Good start for the Mayor’s initiative! I am wondering when we can get those high-tech companies that wanted to build campuses here in 2001-2002 back.
1:29 PM on May 18th, 2009
Hi Anonymous on May 18, 2009 8:47 AM – the City of Dublin requested that Alameda County provide an update during the 6/2 Council meeting. However, the County is still pulling together all the planning info for the courthouse and has requested to have a bit more time. A Council study session or workshop date will hopefully be set in the near future.
Thx, John Z.
3:41 PM on May 18th, 2009
I thought the planning for courthouse is already approved and just the construction has not begun? Per Dublin current project lists (PDF) that is the status of the project.
6:49 PM on May 18th, 2009
Hi Anonymous on May 18, 2009 3:41 PM – the City of Dublin approved the Site Development Review application for the Hall of Justice with a few conditions that Alameda County was asked to address. However, the original application extension just expired on May 16th.
The Alameda County Board of Supervisors approved a request on March 12, 2009 to pay KMD Architects $305K to prepare a revised Site Development Review application package that addresses some of the concerns that the City of Dublin had with the Hall of Justice project.
The County had anticipated having something by the end of April or early May…but they need a bit more time to prepare the application.
Here are the details. We’ll post more once the updated application is available.
http://www.acgov.org/board/bos_calendar/documents/DocsAgendaReg_03_17_09/GENERAL%20ADMINISTRATION/Regular%20Calendar/Professional_Services_Agreement.pdf
Thx, John Z.
7:23 AM on May 20th, 2009
Hi Anonymous on May 16, 2009 3:07 PM – I just wanted to confirm that Fluor has opened at the Dublin Corporate Center – bringing approximately 100 jobs to Dublin.
Thx, John Z.
8:00 AM on May 20th, 2009
This is great news, but to say it brings 100 jobs is misleading. Some of the positions were taken by people who relocated from Fluor’s South SF office; not sure how many, but it’s quite a few. The rest were new hires.
12:17 PM on May 21st, 2009
Whether it is new hires or filled by people from other locations, it is a plus for Dublin. It increases the day time population to help support the local restuarants and business while most Dublin Residences are in far away places like the Peninsula, South Bay, San Ramon or Walnut Creek working at their jobs. Leaving the City of Dublin to look like a ghost town during the weekdays.