CITY OF POMONA
COUNCIL REPORT
March 2, 2026
To: Honorable Mayor and Members of the City Council
From: Anita D. Scott, City Manager
Submitted By: Ata Khan, Deputy Director of Economic and Business Affairs SUBJECT: AMENDMENT TO FY 2025-26 CAPITAL IMPROVEMENT PROGRAM (CIP) BUDGET; APPROVAL OF AGREEMENT AND ALLOCATION FOR FOX THEATER IMPROVEMENT PROGRAM; AND ALLOCATION OF POMONA DEVELOPMENT ACCELERATOR FUND RECOMMENDATION:
It is recommended that the City Council take the following actions:
Adopt the following resolution (Attachment No. 1):
RESOLUTION NO. 2026-23 -- A Resolution OF THE CITY COUNCIL OF THE CITY OF POMONA, california, TO AMEND THE FY 2025-26 CAPITAL IMPROVEMENT PROGRAM (CIP) BUDGET BY CLOSING WORKTAG: 73368-DOWNTOWN PARKING STRUCTURES, releasing the remaining series bi (AW) $1,416,248 AND Series BI (AX/AI) $12,440,004 bond proceeds TOTALING $13,856,252; CREATING WORKTAG: PRJ-00001 – DOWNTOWN POMONA COMMERCIAL IMPROVEMENT program AND APPROPRIATING A TOTAL OF $13,856,252 of which $1,416,248 is FROM SERIES BI (AW) AND $12,440,004 is FROM series bi (AX/AI) of AVAILABLE BOND PROCEEDS Approve Agreement for Fox Theater Improvement Program (Attachment No. 2) and Allocating $600,000 from the Downtown Pomona Commercial Improvement Program CIP [Series BI (AW)].
Approve Allocating $5,000,000 for the Pomona Development Accelerator Fund (PDAF) (Attachment No. 3) from the Downtown Pomona Commercial Improvement Program CIP [Series BI (AX/AI)].
EXECUTIVE SUMMARY:
This action will close the “Downtown Parking Structures” CIP project, enable the release of unexpended funds, and approve the reallocation of these funds into a new CIP project entitled “Downtown Pomona Commercial Improvement Program.” The source of funds for the CIP are former Redevelopment Agency bond proceeds. As part of the establishment of the new CIP, this action further approves the Fox Theater Improvement Program Agreement between the City of Pomona and Fox Theater, LLC in the amount of $600,000 and formally appropriates $5,000,000 for the Pomona Development Accelerator Fund (PDAF), which collectively represent the first two programs within this newly established CIP. The remaining balance of the new CIP will go to towards other programs and projects in the Downtown Pomona project area for commercial improvements, to be proposed for Council consideration at a future date.
SB1439/GOVERNMENT CODE §84308 APPLICABILITY:
☐ When this box is checked, it indicates the agenda item is subject to the Levine Act SB1439 requirements. Councilmembers are reminded to check their campaign contributions and determine whether they have received a campaign contribution of $500 or more that would require disclosure and/or recusal from discussing or acting on this agenda item. Campaign contributions of $500 or more made 1) by any person or entity who is identified in the agenda report as the applicant or proposer or 2) on behalf of the applicant or participant, including a parent, subsidiary or otherwise related business entity, or 3) by any person who has a financial interest in the agenda item requires a councilmember to comply with SB1439.
FISCAL IMPACT:
The closing of “Downtown Pomona Parking Structure” (Worktag: 73368 Downtown Parking Structures) will release a total of $13,856,252 of unexpended bond proceeds. The unexpended bond proceeds will be re-appropriated to Worktag: PRJ-00001 Downtown Pomona Commercial Improvement Program). After allocating $600,000 to the Fox Theater Improvement Program Agreement and $5,000,000 to the Pomona Development Accelerator Fund from the Downtown Pomona Commercial Improvement Program CIP Project, $8,256,252 of unallocated bond proceeds will remain in this CIP Project budget.
DISCUSSION:
The City established the “Downtown Pomona Parking Structures” CIP to construct a new parking garage at City Vehicle Parking District Lot 10, located at Main and First Street in Downtown Pomona. Due to cost increases, this project is no longer feasible and has been cancelled.
Since the source of funding for the proposed parking garage is Former Redevelopment Agency bond proceeds, the Office of Economic and Business Affairs (OEBA) has recommended using those bond proceeds for alternative commercial improvement projects and programs in the same Downtown Pomona project area that are consistent with the legal requirements for the use of those bond proceeds.
The first program identified is the Pomona Development Accelerator Fund (PDAF). The City Council approved the PDAF at its January 5, 2026 meeting (Attachment No. 3) for the purposes of applying for matched funding from the Southern California Association of Governments but did not appropriate funding at that time.
The second program identified is the Fox Theater Improvement Program. Staff recommends this program to strengthen the Fox Theater’s position as the City’s largest seated performance venue, and to support its position as an economic multiplier on the commercial viability of Downtown Pomona. The Fox Theater Improvement Program Agreement (Attachment No. 2) is structured as follows:
The City purchases the rights for 30 calendared days for community-based programming over the course of 30 months, starting April 1, 2026, in a total amount of $510,000.
The City disburses marketing incentive credits to the Fox Theater to be used as an economic development tool to attract additional performances to further fill the calendar over the course of 30 months, in a total amount of $90,000.
OEBA projects that these two programs would catalyze commercial activity and investment into Downtown Pomona by financing new housing development projects, providing capital to new local commercial businesses to start up, and strengthening the viability of Downtown’s largest performance venue, which will have a positive multiplier effect on other Downtown businesses. OEBA will continue developing additional projects and programs for Council consideration as part of the Downtown Pomona Commercial Improvement CIP for future consideration in an effort to expeditiously draw down the remaining bond proceeds.
Prepared by:
Ata Khan
Deputy Director of Economic and Business Affairs
ATTACHMENT(S):
Attachment No. 1 – City Council Resolution No. 2026-23 Attachment No. 2– Fox Theater Improvement Program Agreement Attachment No. 3 – City Council Resolution No. 2026-05 (Establishing Pomona Development Accelerator Fund)
Downtown Pomona Commercial Improvement Program (New CIP)