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ECONOMIC DEVELOPMENT POLICY <br />F -17 <br />The City Council recognizes that the City's ability to deliver quality municipal services <br />is dependent on adequate tax revenues derived primarily from the property and <br />businesses located within the City. Healthy, thriving businesses not only increase sales <br />and bed taxes, but also enhance the value of commercial property and hence property <br />taxes. Residential property values also increase commensurate with employment <br />opportunities. The City Council seeks to promote economic activity within the City to <br />increase the revenues available to provide municipal services. The goal of the City <br />Council is to balance the needs for Economic Development with other City polices and <br />ordinances relating to health and safety, environmental protection, and infrastructure <br />maintenance. <br />Consistent with this goal, the City Manager under the general direction of the City <br />Council Ad Hoc Economic Development Committee shall insure that appropriate City <br />departments conduct the following activities. <br />Data and Analysis <br />isData shall be compiled and analysis conducted to: <br />o Identify those businesses and activities which comply with other City plans and <br />policies and which also generate substantial municipal revenues. <br />o Identify, where possible, specific addresses and owners of businesses and <br />economic activities which generate municipal revenues. <br />o Estimate taxes, fees and other municipal revenues from various land use <br />categories including residential densities. <br />o Display geographic distributions of revenue generators within certain areas and <br />retail centers within the City. <br />o Maintain a fiscal impact analysis system to assess the fiscal impact of land use <br />conversions and development. <br />o Estimate the time required to issue various permits, entitlements and licenses <br />within the City. <br />o Assess cost /revenue aspects of tourism within the City. <br />o Assess potential of City property and assets to promote those businesses and <br />activities that generate municipal revenues.