HomeMy WebLinkAbout(2001, 05/08) - F-17 - Amended - changed to K-100
ECONOMIC DEVELOPMENT POLICY
PURPOSE
K -10
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 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 activity within the City to maintain a
healthy economy, provide revenue 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
The City Council Ad Hoc Economic Development Committee shall conduct the
following activities. The City Manager shall appoint an economic development
coordinator, who shall provide staff support to the Committee as appropriate.
A. Data and Analysis
1. Develop and include in the General Plan a strategic plan for economic
development in the City, based on a study of the City's economy and an
identification of high revenue producing, compatible businesses. (A
Priority)
2. Monitor the generation of municipal revenues by business categories and
geographic areas of the City. (A Priority)
3. Track commercial vacancies to help with retention and attraction
programs, especially attracting quality businesses to areas the City is
revitalizing. (B Priority)
4. Maintain a community profile with information on labor pool, existing
businesses, land and housing costs, community assets, etc. for distribution
to business prospects. (B Priority)
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5. Identify short and long range infrastructure replacement and upgrade
needs and costs and projected funds to accomplish them. Develop
strategies to fill funding gaps. (B Priority)
6. Review and make recommendations on the City operating and capital
improvements budgets. (C Priority)
B. Regulatory, Land Use and Development Review Actions
1. Develop a plan for future development in the Airport Area. (A Priority)
2. Improve sign regulations Citywide. (A Priority)
3. Monitor and streamline the process, time and expense required for action
on land use entitlements and various permits and licenses. (A Priority)
4. Develop a standard economic and fiscal impact analysis system, and use it
to provide the Planning Commission and City Council with reports on all
land use and development proposals requiring an environmental impact .
report, or that are likely to have a significant fiscal or economic impact on
the City. (A Priority)
5. Advocate for projects and programs that will benefit the City by
disseminating information on their fiscal and economic impacts to the
public and City Council. (A Priority)
6. When development proposals involve businesses that have been
identified as high revenue generators, determine early in the review
process what measures may be employed to "fast track" the review
process while providing for public input and review of all issues. (A
Priority)
7. Consider the costs of compliance when considering new regulations and
conditions of approval related to land development, construction and
access to City utilities. (B Priority)
C. Business Retention and Recruitment
1. Focus on improvement of commercial areas. (A Priority)
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a. Mariner's Mile
b. Corona del Mar
C. Balboa Village
d. West PCH
e. Lido Village
f. Cannery Village
g. McFadden Square
2. 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. (A Priority)
3. Mobilize resources to retain contributing businesses in Newport Beach
when they are challenged with expansion and other needs. (A Priority)
4. Support special events like the Film Festival, Christmas Boat Parade,
Toshiba Golf Tournament, and Taste of Newport. (B Priority)
5. 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. (B Priority)
6. Consider actions to assist priority economic development projects obtain
approvals from other regulatory agencies. (C Priority)
Adopted - March 22,1993
Amended - January 24,1994
Amended - May 8, 2001
Formerly F -28, F -17
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