A. Notice of Hearing. Before the city approves, by resolution, each economic development assistance program and the project to be assisted, the city shall hold a public hearing. Notice of the time and place of the hearing shall be published in Signal Hill Tribune, or a comparable newspaper of general circulation, at least once per week for at least two successive weeks, as specified in Section 6066 of the California Government Code, prior to the hearing. Mailed notice shall also be sent to all property owners as shown on the last equalized assessment roll within three hundred feet of the subject property.
B. Report. The city shall make available, for public inspection and copying at a cost not to exceed the cost of duplication, a report no later than the time of publication of the first notice of the hearing mandated by this section. This report shall contain a summary of the following:
1. The economic development assistance program.
2. Description of the project including a site plan and of how the business operations on the property will be conducted.
3. The cost of the development to the applicant and the city, including but not limited to any land acquisition costs, clearance costs, relocation costs, the costs of any improvements, plus the expected interest on any loans or bonds to finance the project.
4. An explanation of why the economic development assistance program is needed by the applicant, with reference to all supporting facts and materials relied upon in making this explanation.
5. How the project will met the conditions described in Section 3.32.060 and how the project will provide public benefit and promote the health, safety and general welfare of the community.
(Ord. 2012-04-1446 § 2, 2012)