Title
Planning and Building, Economic Development Division, recommending the Board consider the following:
1) Receive an overview of potential options to further support small businesses through proposed revisions to Board of Supervisors Policy J-7, Economic Development Incentive Policy, and provide feedback on said revisions;
2) Receive an overview and provide conceptual approval of a draft Board of Supervisors Policy J-9, Accelerator and Incubator Incentive Program, including any modifications as discussed; and
3) Direct staff to return to the Board with a final version of both Policy J-7 and Policy J-9 for adoption.
FUNDING: Transient Occupancy Tax. (General Fund)
Body
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 wit...
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