The Inland Valley Development Agency (IVDA) gathered on Wednesday, June 9, to approve the fiscal year budget for 2021-22 and the board received an update on the IVDA strategic plan approved by the IVDA board in December of 2015.
Providing the update on the strategic plan was IVDA staff analyst Thy Merritt, who told the board that the IVDA reached a new milestone. This past year the Hillwood Alliance California project area generated a record total assessed value of $8.7 billion dollars, which is a 4.1 percent increase.
She said the IVDA has “continued to replace and exceed the 10,000 jobs lost due to the closure” of the former Norton Air Force Base, now San Bernardino International Airport.
Deputy Director Clerk of the Board Jennifer Rodriguez told the board that IVDA brought in approximately 14,521 jobs as of December of 2020.
Topping the list of jobs created were e-commerce (Fed-Ex and UPS), airport transportation and warehousing/storage.
Merritt said that the IVDA had received 95 percent funding; part of which came from the Economic Development Administration (EDA), which brings the Third and Fifth streets projects amount to over $9 million. The projects design phase is still being completed, pending the resolution of right-of-ways.
Merritt said a comprehensive economic development strategy (CEDS) is required every five years to qualify for EDA assistance. The CEDS will be completed by October of this year and submitted to the EDA.
The board next passed the annual budget for 2021-22 at $28,217,000. This includes resources on hand at beginning of the fiscal year, estimated revenues to be received during the fiscal year and transfers among and between funds.
The capital projects fund, which is just over a $11 million, uses the a majority of the budget. Phase II and III of the Mt. View Avenue project along with the Third and Fifth streets project, which will begin after the design is completed, along with other projects slated for 2021-22.
Other budget items included $545,000 for the UAS Training Center, $225,000 for the water sewer fund and $200,000 for the base reuse obligation reserve fund (BRORF).
Over $8 million will go into the general fund and over $4 million will be used for property management.
IVDA’s next meeting is on Wednesday, July 14.