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ECONOMIC DEVELOPMENT POLICY <br />Purpose <br />• <br />The City Council recognizes that the City's ability to deliver quality municipal services is <br />dependent on adequate tax revenues derived primarily from the properties and <br />businesses located within the City. Healthy, thriving businesses not only increase <br />property, sales and bed taxes, but they also provide employment opportunities that <br />support local businesses and the strong residential property values that Newport Beach <br />enjoys. The City Council seeks to promote economic prosperity and growth within the <br />City to maintain and enhance a healthy economy, provide revenues for high quality <br />municipal services, and infrastructure maintenance and improvements, and preserve the <br />unique commercial villages in Newport Beach. All of these objectives serve the <br />overriding purpose of protecting the quality of life of Newport Beach residents, and the <br />City Council recognizes the need to balance economic development objectives with <br />protection of the environment and the health and safety of the community. <br />Policy Implementation <br />The City Manager shall provide an effective and efficient structure for implementing <br />economic programs, utilizing staffing or consulting services in support of annual key <br />directives from the City Council. <br />History <br />Adopted G-1 -10-28-1968 ("Improvement in Govt. Efficiency & Economy) <br />Amended G-1 -11-12-1968 <br />Amended G-1 - 3-9-1970 <br />Reaffirmed G-1 - 2-14-1972 <br />Amended G-1 -12-10-1973 <br />Reaffirmed G-111-11-1974 <br />Adopted F-28 - 3-22-1993 (incorporating G-1, "Economic Development") <br />Amended F-28 -1-24-1994 (changed to F-17) <br />Amended F-17 - 5-8-2001 (changed to K-10) <br />Amended K-10 - 6-10-2008 <br />Amended K-10 & D-9 - 9-27-2011 (changed to D-9) <br />Amended D-9 - 8-8-2017 <br />1 <br />