Business Retention and Development Committee Agenda and Packet 2016 05 02

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Business Retention & Development Committee Meeting Minutes April 4, 2016 Page 3 of 6 members take no position ". Chris seconded. All in favor with Lipton, Maloney and Loo abstaining from voting. BUSINESS ASSISTANCE PROGRAM DISCUSSION DeJong discussed modifying one question in BAP application to hear from information about financial side and implementation of Consumer Use Tax Rebates. He asked if BRaD had suggestions of other tweaks to the program. Commissioner Reichenberg talked about pricing being proprietary information in negotiations and businesses may not want to, or be allowed to, divulge such information. Fleming said ultimately the approval is public record so public knows what the basis is for the incentive. Council member Maloney said Commissioner Reichenberg makes a good point. Articulating the risk analysis is important to him. When proposal comes forward it is the risk analysis; is there a risk of losing this business? There are times it is not a level playing field. Needs to be discussion around it. Maloney supports the program. Commissioner Menaker said risk analysis means to him there is a City budget risk but BAPs are typically rebates. Council member Maloney said it is an investment and we need to weigh the risk on this investment. Commissioner Menaker would hate to lose the original focus of the BAP program — it was tonal. Council member Lipton's concern with the program generally is that businesses look at this as a first resort rather than a last resort. What is landlord or contractor giving? Feels we are giving this to any business who wants it. Not sure we are using it strategically. Use it in relation to how economy is going. Chair Loo says she feels we are not giving it to everyone. She would like DeJong to provide report of who we turn away. She feels we are in a very competitive market with other municipalities. Would like better data. Commissioner Reichenberg said he is in negotiations and works with tenants making decisions. Sometimes it comes down to "feeling" of transaction. When municipalities do not give assistance it can be perceived as negative. Small acts of not - significant dollars show a willingness to work with business. Commissioner Staufer said if the business wouldn't be coming here if not given the rebate then this should not be a discussion. We do not gain anything by having vacant property. He does not see downside of offering rebates. Commissioner Menaker said this was a tool for Economic Development and allowed us flexibility. 4