Are you looking for ways to get involved in a community project in Sacramento, CA and receive tax incentives? If so, you're in luck! There are several programs available at the local, regional and state levels that provide tax benefits for properties used for urban agricultural purposes. These include the California Competes Tax Credit, Main Street Small Business Credit, Opportunity Zones, and other similar programs. The City of Citrus Heights is dedicated to providing high-quality, affordable and responsive municipal services to its community. To this end, they have established several development incentives that are available to anyone who purchases a solar electrical system, including solar panels and Solar Roof.
Energy storage along with solar systems are considered qualifying expenses and eligible for the tax credit. The Urban Agriculture Incentive Zone Ordinance (UAIZ) is a municipal program that offers owners of vacant, unimproved or in poor condition properties the option of entering into a voluntary agreement with the City to keep the property in active agricultural use for a period of five years in exchange for a tax benefit to the property. The City of Sacramento's Community Development Department will relaunch the Urban Agriculture Incentive Zone Program in August of this year. An urban agriculture incentive zone agreement (“UAIZ agreement”) is a voluntary contractual agreement between the city and the landowner whereby the owner agrees to keep the entire plot in active agricultural production for a period of five years in exchange for reducing property taxes during the contract period. The Grow Sacramento Fund is a partnership between SMUD, the City of Sacramento, Sacramento County and the National Development Council (NDC). This fund provides federal income tax credits to anyone who invests in real estate projects and business operations located in certain low-income communities by deferring and partially reducing taxes on reinvested capital gains and waiving taxes on new capital gains. The Citrus Heights Business Attraction Incentive Program was established to improve the city's competitiveness in attracting designated target industry companies that bring vitality to the community and commercial areas.
The SEIA also fought for the successful passage of many other important tax measures in the IRA, such as adding energy storage to the ITC, creating tax credits for solar energy manufacturing and ensuring that interconnection costs are a qualifying expense for solar projects of less than 5 MWac. Ana Medina has an extensive understanding of the wants, needs and challenges of marginalized communities, and has an extensive network in rural and Latino communities in Central California. She serves on several boards of directors of foundations and non-profit organizations that work to serve communities whose works include criminal justice, nonviolence, educational opportunities for young people, support for young adults in sports, and economic opportunities. Gurbax Sahota has been leading the California Association for Local Economic Development (CALED), California's largest economic development association, for the past ten years and believes strongly in the importance and need to collaborate and create meaningful partnerships to achieve the goal of creating healthy and rich communities. Geri's decades of experience in improving communities through advocacy, philanthropy and community development are an integral part of Green For All's work. Vera Moore has been an advocate for communities of color and for low- and moderate-income communities throughout her career. The firm also designs, manages and implements outreach and business equity programs with a community and inclusive perspective for corporations seeking projects with public land or public money. By investing strategically in California communities, Adventist Health continues to partner with local industry leaders to improve the well-being of the workforce within the communities it serves. In conclusion, there are numerous tax incentives available for those who participate in community projects in Sacramento, CA.
These incentives range from federal income tax credits to local development incentives. It is essential to research all available options before making any decisions about participating in a community project.