SACRAMENTO (CBS13) – Mayor Darrell Steinberg gave his inaugural State of the City address Thursday morning.

The event was held at Memorial Auditorium in Downtown Sacramento.

Steinberg talked about his plan to create a multi-billion dollar fund for a whole slew of civic initiatives to improve the city, like infrastructure, housing and arts.

The mayor proposed a new sales tax to pay for the fund, or for the city to sell off some of its vacant land.

Steinberg also highlighted Sacramento’s new prominence, like with the film critically-acclaimed film “Lady Bird” and the upcoming Clint Eastwood-directed movie “The 15:17 to Paris.”

He even acknowledged the news that broke earlier Thursday morning that Sacramento had been passed over as a finalist for Amazon’s HQ2, noting that the city has always been a “dark horse” candidate.

On Sacramento’s push to get a Major League Soccer team, Steinberg said he remained confident in the city’s chances. However, he also noted how lack of private investment remains a challenge.