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HomeMy WebLinkAbout(1994, 01/24) - F-28 - Reaffirmed - changed to F-17ECONOMIC DEVELOPMENT POLICY F -17 The City Council recognizes that the City's ability to deliver quality municipal services is dependent on adequate tax revenues derived primarily from the property and businesses located within the City. Healthy, thriving businesses not only increase sales and bed taxes, but also enhance the value of commercial property and hence property taxes. Residential property values also increase commensurate with employment opportunities. The City Council seeks to promote economic activity within the City to increase the revenues available to provide municipal services. The goal of the City Council is to balance the needs for Economic Development with other City polices and ordinances relating to health and safety, environmental protection, and infrastructure maintenance. Consistent with this goal, the City Manager under the general direction of the City Council Ad Hoc Economic Development Committee shall insure that appropriate City departments conduct the following activities. Data and Analysis isData shall be compiled and analysis conducted to: o Identify those businesses and activities which comply with other City plans and policies and which also generate substantial municipal revenues. o Identify, where possible, specific addresses and owners of businesses and economic activities which generate municipal revenues. o Estimate taxes, fees and other municipal revenues from various land use categories including residential densities. o Display geographic distributions of revenue generators within certain areas and retail centers within the City. o Maintain a fiscal impact analysis system to assess the fiscal impact of land use conversions and development. o Estimate the time required to issue various permits, entitlements and licenses within the City. o Assess cost /revenue aspects of tourism within the City. o Assess potential of City property and assets to promote those businesses and activities that generate municipal revenues. F -17 to o Provide, when necessary, assistance to the City Council and City staff to accomplish the purposes of this Policy. o Provide an overview of City revenues and expenditures to enable the public to critique the City's budget practices. Regulatory and Land Use Actions Based upon the data and analysis referenced above, all major planning, development, zoning, regulatory and permitting decisions made by the City shall include a review of the economic implications of such action. Toward that end, the following shall be accomplished. o Major development projects, and General Plan amendments shall include an economic development component o All major zoning, subdivision and development permits considered by the City Council or Planning Commission shall be accompanied by an economic analysis describing the cost and revenues to the City associated with the actions. Land use conversions shall be accompanied by a before and after cost /revenue analysis. o Cost estimates of City imposed conditions on development projects that are provided by project sponsors shall be reviewed by the City Council or Planning Commission at the time such conditions are considered. o All amendments proposed by the City to building, construction and utility codes/ regulations shall be accompanied by an analysis of the costs associated with compliance with such amendments. o Project proposals shall be evaluated as early as possible in the permitting process to determine their potential to generate substantial municipal revenues and to determine what measures, if any, may be employed to fast track the proposal. Business Relations and Marketing It is the policy of the City Council that developers, business persons and other private individuals shall be consulted on the economic cost of various decisions made by the City. Further, the City Council desires that efforts be made to attract and retain those businesses and economic activities which serve to increase municipal revenues in a manner consistent with other City plans and policies. To further this policy, the • following shall be accomplished. 2 F -17 o City representatives shall meet periodically with the various Chambers of Commerce, business groups and individual business owners to assess the economic impacts of City regulations, to explore areas of financial mutual interest and to provide, where possible, City assistance to retain in the City those businesses which generate municipal revenues. o The City shall provide a forum for groups and individuals seeking relief from City regulatory actions as a means to increase profitability. o The City shall consider the appointment of a staff economic development coordinator who may also serve as a business development facilitator or a project ombudsman. o The City shall consider actions to assist priority economic development projects obtain approvals from other regulatory agencies. o The City shall consider ordinances or other means to provide financial incentives such as sales tax rebates to attract revenue generating businesses and activities to the City. o The City shall consider actions to promote land use conversions and improvements such as redevelopment, assessment districts, loan programs, etc. o The City shall develop a comprehensive marketing and public relations program to attract and retain revenue generating businesses and activities. The program shall: a) Create and maintain a comprehensive market - related data base (e.g. labor pool, land /housing cost, community assets, etc.) for distribution to businesses. b) Develop and update professional marketing materials including advertisements, promotional brochures, City exhibits, media kits, videos, and maps, perhaps incorporating a promotional theme and logo in all such materials. c) Develop a prospect response system including reception team, tour and materials. d) Consider a public relations plan including advertising and editorial placement, participation in conferences and trade shows, media campaign, direct mail and special events. 3 F -17 0 e) Encourage joint marketing efforts with outside groups such as real estate brokers, developers, utilities, Visitors and Convention Bureau and other economic development groups. f) Increase local and regional business and citizen awareness of economic development goals and activities. Adopted March 22,1993 Reaffirmed January 24, 1994 Formerly F -28 4 Is