Title
An Ordinance amending the Economic Development Incentive Policy for the City of Lee's Summit, Missouri. (CEDC 6/14/23)
Body
Issue/Request:
An Ordinance amending the Economic Development Incentive Policy for the City of Lee's Summit, Missouri
Key Issues:
The Community and Economic Development Committee held discussions regarding the Economic Development Incentive Policy at the following meetings:
- September 19, 2022
- May 10, 2023
- June 14, 2023
The approval of the attached ordinance will incorporate the amendments discussed at those meetings into the Policy.
The proposed changes include:
- Changes to the overall format of the document to be more consistent with the current use of the Policy
- Inclusion of statements relating to the Ignite! Strategic and Comprehensive Plans
- Clarification on general policies related to reimbursement ratios and when incentive conversations should begin
- Expanded criteria related to Industrial Projects
- Updates to the application and review process
Proposed Motion:
FIRST MOTION: I move for second reading of An Ordinance amending the Economic Development Incentive Policy for the City of Lee's Summit, Missouri.
SECOND MOTION: I move for approval of An Ordinance amending the Economic Development Incentive Policy for the City of Lee's Summit, Missouri.
Background:
In February 2015, the City Council adopted Ordinance 7588 creating the Economic Development Incentive Policy
In October 2015, the City Council amended the Policy by adoption of Ordinance 7725
In January 2018, the City Council amended the Policy by adoption of Ordinance 8322
In January 2020, the City Council amended the Policy by adoption of Ordinance 8801(a)
In April 2022, the City Council amended the Policy by adoption of Ordinance 9804
Presenter
Ryan Elam, Assistant City Manager
David Bushek, Chief Counsel of Economic Development and Planning
Recommendation
Staff recommends approval of the ordinance.
Committee Recommendation
At t...
Click here for full text