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File #: 2022-5134    Name:
Type: Discussion Item Status: Agenda Ready
File created: 8/29/2022 In control: Community and Economic Development Committee
On agenda: 9/19/2022 Final action:
Title: Review and discussion of the Lee's Summit Economic Development Incentive Policy.
Attachments: 1. ED Incentive Policy 5_2_22
Related files: BILL NO. 17-280, BILL NO. 20-12, BILL NO. 22-87
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Title

Review and discussion of the Lee's Summit Economic Development Incentive Policy.

 

Body

Issue/Request:

Review and Discussion of the Lee's Summit Economic Development Incentive Policy

 

Key Issues:

With continued use of the adopted Economic Development Incentive Policy (EDIP) project history creates precedent that shapes future policy discussions.  As time passes it is necessary to review the current policy language to ensure the policy is achieving the desired outcomes and make any necessary changes to improve the use of the policy.  Specific items to be discussed include:

 

- Industrial Development

                     - Current practice review

- Conceptual Presentation Refinement

                     - Background

                     - Total Investment

                     - Total Incentive

                     - Benefits of the partnership

- Timing of permit issuance

                     - Permitting work that is not reimbursable

                     - Permits associated with tenant spaces in blighted CID areas

- Targets

 

Background:

The EDIP is intended to provide direction and guidance to the development and investment community at the earliest stages of project development and further outlines specific goals of the City Council.  The policy is also intended to provide direction to staff when discussing projects with applicants, providing great benefit to the process overall. 

 

Economic Development Incentive Policy History:

                     February 2015 Ordinance 7588 was adopted creating the Economic Development Incentive Policy

                     October 2015 Ordinance 7725 amended the Policy

                     January 2018 Ordinance 8322 amended the Policy

                     January 2020 Ordinance 8801 amended the Policy (Added a section for LCRA)

                     April 2022 Ordinance 9408 amended the Policy

 

Presenter

Mark Dunning, City Manager

David Bushek, Chief Council of Economic Development & Planning

 

 

Recommendation

Recommendation:  Staff is seeking direction on additional areas to review for recommended policy language additions.  This discussion is anticipated to continue at the next CEDC meeting.