ACTION REQUESTED:
Title
Communication from the City Manager and the Community Development Director with a Request to Hold a POLICY SESSION on ECONOMIC DEVELOPMENT and Provide Direction as Appropriate.
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BACKGROUND:
The economic development function has been re-launched at the City over the past year with the creation of the Community Development Department, the funding of two new economic development positions, and the addition of a part-time real estate coordinator.
However, the specific functions of the Economic Development Division have not been formalized through Council action or direction. As such, this policy session will provide a venue for the discussion of the structure and activities going forward.
This policy session will follow the same format as the other Community Development policy sessions in 2014.
1. An overview of existing activities.
2. A discussion of issues identified by staff.
3. A list of proposed actions developed by staff.
4. A discussion with Council on the issues and actions.
The actions suggested by staff in this policy session include:
* Develop and Launch a Business Retention & Expansion (BRE) program in order to conduct outreach visits to local businesses.
* Develop an amended Enterprise Zone (EZ) program based on the new State guidelines.
* Revive the existing Business Loan Program.
* Develop guidelines for the new CDBG economic development program.
* Develop and Launch a comprehensive Marketing Program designed to provide information on development in Peoria.
o Dedicated development program and process web page.
o Dedicated and updated marketing materials.
o Use of social media platforms and web videos.
* Develop an Incentive Policy that will provide different levels of assistance based on Industry and Location.
* Develop a policy on Land Assembly.
* Develop a series of metrics to determine "success" in economic development.
Beyond the actions listed above, staff would also like to di...
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