HomeMy WebLinkAbout(2008, 06/10) - K-10 - AmendedI
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ECONOMIC DEVELOPMENT POLICY
PURPOSE
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The City Council recognizes that the City's ability to deliver quality municipal services
is dependent on adequate tax revenues derived primarily from the properties and
businesses located within the City. Healthy, thriving businesses not only increase
property, sales and bed taxes, but they also provide employment opportunities that
support local businesses and the strong residential property values that Newport Beach
enjoys. The City Council seeks to promote economic prosperity and growth within the
City to maintain and enhance a healthy economy, provide revenues for high quality
municipal services, and infrastructure maintenance and improvements, and preserve
the unique commercial villages in Newport Beach. All of these objectives serve the
overriding purpose of protecting the quality of life of Newport Beach residents, and the
City Council recognizes the need to balance economic development objectives with
protection of the environment and the health and safety of the community.
POLICY
0 A. Strategic Plan for Fiscal and Economic Sustainability
1. Implement the adopted Strategic Plan.
2. Annually conduct a review of the Strategic Plan evaluating content and
implementation. When needed, update and consider necessary revisions.
B. Regulatory, Land Use and Development Review Actions
1. Periodically review the established thresholds for projects sent for fiscal
review to determine their effectiveness and value.
2. Analyze and provide details on projects and programs that may benefit
the City by disseminating information on their fiscal and economic
impacts to the City Council and the public.
3. Balance costs and benefits when considering new land use regulations
and /or conditions of approval related to land development.
4. Continually improve the City development review and approval process,
with focus on reducing the time and expense to the applicant while still
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providing for public input, review of issues and cost recovery. Identify
high revenue generating projects early and determine if they need fast
tracking or other incentives, and how to provide them.
C. Business Retention, Enhancement and Recruitment
1. Focus on maintenance of and improvements to the economic viability of
the City's commercial areas.
2. Mobilize resources to retain contributing businesses in Newport Beach
when they are challenged with expansion and other needs.
3. Consider actions to assist priority economic development projects obtain
approvals from other regulatory agencies such as State, County, Coastal
Commission, etc.
4. Consider providing financial incentives such as sales tax sharing, relief
from or assistance with City fees and regulations to increase the feasibility
of projects with high revenue potential.
5. Establish cooperative relationships with the Chambers of Commerce,
Conference and Visitors Bureau, Building Industry Association, Business
Improvement Districts, other business groups, and individual business
and property owners.
6. Support special events like the Film Festival, Christmas Boat Parade,
Toshiba Golf Tournament, and Taste of Newport.
D. Customer Service
1. Provide guidance, training and counsel to City staff to encourage the
highest caliber of customer service in all aspects of City services.
2. Utilize Economic Development staff as ombudsmen for City businesses.
POLICY IMPLEMENTATION
This Policy shall be implemented by the City Council directing City staff with the
advice and support of the City Council Economic Development Committee (EDC). The
EDC shall be involved in the conduct of some of the above policies. The City Manager
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shall appoint a City staff liaison, who shall provide staff support to the EDC as
appropriate.
Adopted - March 22,1993
Amended - January 24,1994
Amended - May 8, 2001
Amended - June 10, 2008
Formerly F -28, F -17
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