(A) Administration. The city has adopted an Economic Development Program. To administer the program, there are established and identified the following components and responsibilities.
(1) Program Administrator. The Program Administrator shall be appointed by the Mayor and approved by the City Council. The Program Administrator shall be responsible for the day-to-day activities of administering the program. The Program Administrator shall be the primary point of contact for applicants on the program, the application process and additional financial documents needed for the application process. The Program Administrator shall coordinate with applicants, Citizen Advisory Review Committee, Application Review Committee and City Council to ensure timely review of completed applications.
(2) Citizen Advisory Review Committee. The Citizen Advisory Review Committee shall consist of five members appointed by the Mayor and approved by the City Council. No member may be an elected or appointed official, employee of the city or any person who participates in the decision-making process regarding expenditures of program funds. At least one member on the Committee must have expertise or experience in the field of business, finance or accounting. The Program Administrator will serve as ex officio member. The Citizen Advisory Review Committee shall meet regularly as required to review the program and shall report to the City Council at least once in every six-month period on its findings and suggestions at a public hearing called for that purpose.
(3) Application Review Committee. The Application Review Committee shall consist of three to seven members appointed by the Mayor and approved by the City Council. Members shall have some level of economic development, lending, business and/or accounting expertise. No member may be an elected or appointed official, employee of the city, nor anyone who is an applicant, employee agent, shareholder or officer of an applicant for program funds. Members are not required to live within the city limits. The Application Review Committee shall review and analyze program applications, including confidential financial information, to make an educated evaluation of the viability of the project and recommendation to the City Council. The Committee shall meet regularly to ensure applications are processed, reviewed and brought before the City Council in a timely manner.
(4) City Council. The City Council shall exercise final authority on expenditure of funds in support of the economic development program. The City Council shall provide ultimate responsibility and oversight for the program.
(B) Confidentiality. The Program Administrator and members of the Application Review Committee, Citizen Advisory Review Committee, City Council and city staff may receive information about businesses that is confidential and, if released, could harm businesses or give an unfair advantage to competitors. Information received and reviewed through the Economic Development Program is therefore considered confidential. State law authorizes the city to maintain the confidentiality of business information which comes into its possession for use in the Economic Development Program. Unauthorized disclosure of any confidential business information shall be a misdemeanor.
(Ord. 965, passed 6-7-2022) Penalty, see § 2-201