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File #: 201901479    Version:
Type: Motion Status: Filed
File created: 9/18/2019 In control: Budget and Finance Committee
On agenda: 9/18/2019 Final action: 11/29/2021
ORD/RES# date: ORD/RES#:
Title: MOTION, submitted by Councilmember Mann WE MOVE that if a development agreement presented to Council includes city financial assistance or incentives of any kind, including tax abatement, then the city administration shall state whether the development will benefit from federal opportunity zone tax incentives and if so, the city administration shall present a detailed financial analysis as to how these federal benefits reduce or eliminate the appropriate level of financial incentives from the city. (STATEMENT ATTACHED).
Sponsors: David Mann
Attachments: 1. File Summary

title

MOTION, submitted by Councilmember Mann WE MOVE that if a development agreement presented to Council includes city financial assistance or incentives of any kind, including tax abatement, then the city administration shall state whether the development will benefit from federal opportunity zone tax incentives and if so, the city administration shall present a detailed financial analysis as to how these federal benefits reduce or eliminate the appropriate level of financial incentives from the city. (STATEMENT ATTACHED).