Updates to Great Housing Strategies: Open to Comment!
Posted on: December 28, 2015 | Posted in: News
The following communication is from City Economic Development staff regarding changes to Economic Development policies:
This communication is follow up from the Workgroup meetings held on November 13 and November 18to discuss proposed modifications to the policies for Economic Development programs administered by the City of Grand Rapids. As always, thank you to those who participated in the discussion. Your feedback and recommendations are valuable in this process, and have been utilized to draft the attached modification.
For those not in attendance, the general recommendation that was discussed included the following:
- Reduce the level of incentive offered to qualifying projects to a base level of approximately 50% of what is currently provided
- Allow for increases in the level of incentive offered based on how projects proposed to help the City achieve certain goals and priorities
- The maximum incentive achievable would be equivalent to what is currently offered by the City of Grand Rapids
Based on the discussion at the two workgroup meetings, and subsequent comments received by the City, the attached recommendation modifies the above recommendation as follows:
- Establishes a “base level” of incentive equivalent to what is currently offered by the City (which is less than what is permitted by statute)
- Allow for increases in the level on incentive offered based on a very limited set of criteria that would help the City achieve certain investment goals
- The maximum incentive achievable would be equivalent to the maximum permitted under the relevant statute
This modification works similarly to bonuses available in the zoning ordinance. If you have comments on any portion of this recommendation, you may submit them to me by phone (456-3462) or email (email@example.com). Comments must be received by January 6, 2016. This revised recommendation would proceed to the Economic Development Project Team for review on January 12, 2016 (12:30pm in Room 601), prior to proceeding to the City Commission for its consideration.