It's official: Mayor Heather Fargo will seek a third term.

Fargo, who had indicated in recent interviews she would run, formally announced her candidacy during a speech Thursday to downtown business leaders. The mayor said she wanted another term largely to keep up momentum for revitalizing downtown.

"We can feel the (progress). We can see it. We can even hear it with the pile driving," said Fargo, referring to upscale downtown development projects under way, from condos to office buildings to hotels. "We will go over, under, around, or through to make these projects happen."

The mayor's announcement, which came as little surprise to Sacramento's political class, highlighted the annual State of Downtown breakfast at Memorial Auditorium. Nearly 700 business and civic leaders came for scrambled eggs, coffee and recipe ideas for downtown's future.