Economic Vitality Committee Agenda and Packet 2021 08 20

Home Browse Search

Economic Vitality Committee Meeting Minutes July 16, 2021 Page 2 of 4 stand the test of time. But that 14 years is also a long time to have the same set of rules and that it was important to not create any new issues or problems if new rules were to be enacted. He stressed the importance of meeting business needs through the process and that he thought changes are needed overall to the program, but they should be prudent. Based on Council questions, Director Pierce outlined the typical program timing for an application and the various touch points that are required to bring an agreement forward to City Council. Councilmember Leh stated that it is important to help incentivize certain aspects that will also benefit the community overall. He also mentioned that this evaluation is signaling to the businesses about interacting with the City. He felt understanding why businesses are interested in applying helps with considering what changes may be needed. Based on a question from Councilmember Leh, Director Pierce shared perceptions of businesses about the program offered. Chair Dickinson agreed with the comment about signaling businesses and said the Council should have its business goals align with the Business Assistance Program. He suggested that one change to be evaluated is the timing of an application with lease signing and that the Council could allow for leases to be signed before applications for assistance are approved. Next, the EVC took public comment. Mike Kranzdorf, downtown commercial property owner. He agreed it would be helpful if businesses could receive the benefits of the program even if they had signed a lease. He thought the idea of a bonus tied to filling a commercial vacancy was a good and should be explored. Mr. Kranzdorf said the City could also consider a $5,000 bonus to new businesses that may not apply for and receive incentives. He and Director Pierce discussed the approximate number of businesses that had closed in the recent past. Mark Oberholzer, Vice Chair of DBA and co-owner of Tilt Pinball. He commented that he liked the idea that you shouldn't sign a lease before you apply for a BAP. He also commented on the vacancies and felt it was more the responsibility of the landlord to offer rent that can attract a tenant. City Manager Balser said that the Council should also recognize that there are things outside the City's control, such as land value and market conditions. Some market conditions may create a barrier to entry that cannot be mitigated simply by increasing certain incentives. Chair Dickinson said the comments reflect how important the program messaging is to businesses. He indicated he liked some of Director Pierce's suggestions and felt the focus should shift more toward smaller retailers. Agenda Packet P. 4