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ECONOMIC DEVELOPMENT POLICY <br />F -28 <br />The City Council recognizes that the City's ability to deliver quality <br />municipal services is dependent on adequate tax revenues derived primarily <br />from the property and businesses located within the City. Healthy, <br />thriving businesses not only increase sales and bed taxes, but also <br />enhance the value of commercial property and hence property taxes. <br />Residential property values also increase commensurate with employment <br />opportunities. The City Council seeks to promote economic activity within <br />the City to increase the revenues available to provide municipal services. <br />The goal of the City Council is to balance the needs for Economic <br />development with other City policies and ordinances relating to health and <br />safety, environmental protection, and infrastructure maintenance, <br />Consistent with this goal, the City Manager under the general direction of <br />the City Council Ad Hoc Economic Development Committee shall insure that <br />appropriate City departments conduct the following activities. <br />Data and Analysis <br />Data shall be compiled and analysis conducted to: <br />Identify those businesses and activities which comply with other <br />City plans and policies and which also generate substantial <br />municipal revenues. <br />Identify, where possible, specific addresses and owners of <br />businesses and economic activities which generate municipal <br />revenues. <br />Estimate taxes, fees and other municipal revenues from various land <br />use categories including residential densities. <br />Display geographic distributions of revenue generators within <br />certain areas and retail centers within the City. <br />Maintain a fiscal impact analysis system to assess the fiscal impact <br />of land use conversions and development. <br />Estimate the time required to issue various permits, entitlements <br />and licenses within the City. <br />Assess cost /revenue aspects of tourism within the City. <br />Assess potential of City property and assets to promote those <br />businesses and activities that generate municipal revenues. <br />Provide, when necessary, assistance to the City Council and City <br />staff to accomplish the purposes of this Policy. <br />Provide an overview of City revenues and expenditures to enable the <br />public to critique the City's budget practices. <br />Regulatory and Land Use Actions <br />Based upon the data and analysis referenced above, all major planning, <br />development, zoning, regulatory and permitting decisions made by the City <br />shall include a review of the economic implications of such action. <br />Toward that end, the following shall be accomplished. <br />Major development projects, and General Plan Amendments shall <br />include an economic development component.