Shown below are the goals of the Economic Development Incentive program. No project shall be eligible unless the project directly and materially serves one or more of the goals of the program. However, compliance with one or more program goals does not assure participation in the program, with the City Council reserving all rights and discretion to provide incentives or assistance.
(A) Encourage development or redevelopment that would not occur without public efforts.
(B) Address blighted and economically obsolete areas.
(C) Create and retain jobs, income, and economic activity.
(D) Diversify and expand the tax base, which mitigates economic risk and provides funding for services to the community.
(E) Facilitate infrastructure improvements for which no other funding source is available.
(F) Reverse or slow the long-term trend of population loss in the community.
(G) Revitalization of neighborhoods, downtown, and key commercial corridors.
(H) Encourage private investment.
(I) Complete infrastructure improvements which support commercial, industrial, and residential development and redevelopment.
(J) Reduce vacancy rates in existing buildings and develop underutilized properties to their highest and best use.
(K) Provide a higher qualify of life for city residents, with better services and resources.
(Ord. 3757, passed 3-10-14; Am. Ord. 3846, passed 9-12-16)