Title
LCRA Draft Policy
Body
Issue/Request:
Staff will be presenting the draft Land Clearance for Redevelopment Authority (LCRA) Policy language that has been prepared based on feedback and input received from the LCRA policy presentation and discussion held at the November 12, 2019 City Council meeting. In addition, staff has presented the draft policy language to the LCRA at their December 4, 2019 meeting and received a favorable recommendation from the LCRA. The purpose of incorporating the proposed additional LCRA Policy provisions within the adopted Economic Development Incentive Policy is to guide decision making for current and future LCRA project related requests and to create consistency in the manner in which LCRA projects are processed.
Key Issues:
The Mayor and Council requested staff to create and introduce proposed policy language that creates guidelines, policy statements and implementation conditions for incorporation into the currently adopted Economic Development Incentive Policy with respect to the utilization of LCRA incentive tools.
Staff has developed the proposed policy language and will be presenting to the Mayor and Council for direction to incorporate into the Economic Development Incentive Policy by ordinance.
Proposed City Council Motion:
I move to direct staff to prepare an ordinance incorporating the proposed LCRA policy provisions within the adopted Economic Development Incentive Policy.
Background:
Since the reactivation of the LCRA in 2009, the LCRA has considered and Council approved a total of 13 projects through the issuance of Certificate of Qualification for Real Property Tax Abatement. Three of these projects were considered and approved prior to the adoption of the Economic Development Incentive Policy in 2015, and four projects considered before the creation and implementation of the LCRA evaluation criteria (LCRA spreadsheet evaluation tool).
Over time, the LCRA has refined the manner in which proposed proje...
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