AGENDA CAPTION:
Title
Consider approval of Resolution 2016-15R, amending the City’s Economic Development Policy to require that jobs qualifying for an economic development incentive pay a family living wage, including employer sponsored health insurance benefits; and declaring an effective date.
Body
Meeting date: February 2, 2016
Department: City Manager
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
CITY COUNCIL GOAL: Economic Vitality and Responsible Finances
COMPREHENSIVE PLAN ELEMENT(s):
Economic Development Goal 4: An enhanced and diverse local economic environment that is prosperous, efficient and provides improved opportunities to residents.
Economic Development Goal 5: Fiscally responsible incentives for economic development.
BACKGROUND:
San Marcos is committed to the promotion of quality development in all parts of the City and to improving the quality of life for its citizens. In order to meet these goals, the City Council will consider providing incentives to stimulate economic development in San Marcos and its extraterritorial jurisdiction (ETJ). The City will consider providing incentives to appropriate businesses in accordance with the procedures and criteria outlined in the attached City of San Marcos Economic Development Policy, adopted under Resolution 2013-185R on December 17, 2013.
On January 19, 2016, City Council directed staff to prepare amendments to the Economic Development Policy adding a definition of, “family living wage” and providing that all jobs calculated or counted for economic development incentive purposes shall earn no less than a “family living wage” throughout the full term of the agreement. A redline version of the Economic Development Policy incorporating these amendments is attached.