Title
Planning and Building, Economic Development Division, recommending the Board consider the following:
1) Approve and adopt revisions to Policy J-7, Economic Development Incentives, and update the sunset review date; and
2) Approve and adopt Policy J-9, Startup and Entrepreneur Technical Assistance Program, and establish the next review date.
FUNDING: Transient Occupancy Tax funds.
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DISCUSSION / BACKGROUND
On December 17, 2013 (File No. 13-1579, Item No. 7), the Board directed staff to prepare an Economic Development Incentive Policy to include incentive tools designed to attract, support, and expand economic development within El Dorado County. The use of incentives is referenced in the Economic Development Element of the 2004 General Plan and is a common economic development practice of other local jurisdictions.
On February 11, 2014, (File No. 14-0171 V1, Item No. 33), the Board approved Policy J-7, Economic Development Incentives. Policy J-7 is an overall statement of intent that the County will consider economic development incentives through sales tax or property tax rebates/reductions, permit process assistance, deferral/reduction of permit or impact fees, small business and micro-enterprise assistance, state programs, or workforce development assistance as part of a broader strategy of business attraction for targeted business sectors that have the highest potential for growth and offer the highest level of economic impact. This policy also identified the specific targeted business sectors, incentive options, and the procedures to implement the policy will be developed.
On February 10, 2015 (File No.14-0171 V2, Item No. 6), the Board extended Policy J-7 with an expiration of the policy at the end of nine (9) months (November of 2015). Due to the drafting of the County's Economic Development Strategic Plan and the need for greater policy research, Policy J-7 was allowed to expire in November of 2015, its adopted sunset date.
On April 19, 2016...
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