Title
Approval of a Resolution to Amend the Economic Development Incentive Policy.
Presented by Alice Wakefield, Director of Community Development
Body
Item Summary:
The proposed amendment includes the following revisions:
1. Amend the number of jobs created to five (5) jobs or more instead of fifty (50) or more jobs.
2. Remove the required capital investment amount of $15 million
3. Expand the Economic Development Incentive Committee to include the Council Liaison to the Community Development Department.
4. Revise the wording in the compliance section by removing the words related to audit and the sentence regarding repayment.
5. Allow the Economic Development Incentive Policy Committee to approve incentive requests under $25,000.
Committee or Staff Recommendation:
On May 29, 2013 the Community Development and Transportation Committee recommended placing this Item on the June 10, 2013 Mayor and Council Agenda.
Financial Impact:
N/A
Presented by:
Alice Wakefield, Director of Community Development