The Stockton City Council voted recently to gradually phase out the Stockton Economic Stimulus Program over the next five years.
The stimulus program, also known as SESP, offers a fee reduction for some public facility fees for both single-family and multi-family residences being built in Stockton, according to city documents. The program has created over 3,400 single-family homes, 500 multifamily units and the creation of over 3,700 jobs since 2016, the city says.
Originally introduced in 2015 by former Mayor Anthony Silva and the Building Industry Association of the Greater Valley, the incentive-based program was created “to promote economic development through residential construction through the reduction of certain public facilities fees,” also known as PFFs…