Title
Planning and Building Department, Economic Development Division, recommending the Board authorize a revised sunset date for Board Policy J-7 - Economic Development Incentives from April 30, 2020 to April 30, 2022.
FUNDING: N/A
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DISCUSSION / BACKGROUND
Both the County’s Strategic Plan and General Plan include Economic Development Elements. The Economic Development Element of the County General Plan adopted by the Board on July 19, 2004 includes policies to encourage economic development and specifically provides for the development of incentives to encourage development of particular business sectors.
The purpose of policy J-7 - Economic Development Incentives is to:
A. Identify targeted business sectors that have the highest potential for growth and will offer the highest economic impact through the use of incentives.
B. Identify economic incentive options.
C. Establish a formalized analysis, fair process, and transparent review of economic development incentives for businesses starting in, expanding in, or relocating to El Dorado County.
D. Ensure any and all incentives offered to job-creating firms in El Dorado County offer benefit to the goals of the County as well as the business.
In an effort to continue the County’s investment in Economic Development, to further implement the County’s General Plan, and to maintain economic development tools to soften the economic impacts that will likely result from COVID-19, staff is recommending the Board revise the sunset date of Policy J-7 - Economic Development Incentives, from April 30, 2020 to April 30, 2022.
ALTERNATIVES
The Board could decide to not revise the sunset date of Policy J-7, and allow the Policy to sunset on April 30, 2020. The Board could also make additional revisions to Policy J-7.
PRIOR BOARD ACTION
At the December 17, 2013 Board of Supervisors meeting (Legistar Number 13-1579, Item 7), the Board directed staff to prepare an Economic Development Incentive Policy to include incen...
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