AGENDA CAPTION:
Title
Consider approval of Resolution 2018-132R, amending the City’s Economic Development Policy and the Policy Regarding Use of the City of San Marcos Economic Development Supplemental Fund to provide that the Fund may be used for real property acquisition, land planning, engineering and other activities associated with the development of Workforce Housing, and establishing an effective date.
Body
Meeting date: August 7, 2018
Department: CMO - Kevin Burke, Economic Development & Downtown Administrator
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: Council approved Resolution No. 2016-03R, adopting a Policy Regarding Use of the City of San Marcos Economic Development Supplemental Fund, as an addendum to the City of San Marcos Economic Development Policy, on January 5, 2016.
City Council Strategic Initiative:
Workforce Housing
Comprehensive Plan Element (s):
☒ Economic Development - Workforce & Education Excellence
☐ Environment & Resource Protection
☐ Land Use
☒ Neighborhoods & Housing - Diversified housing options to serve citizens with varying needs and interests
☐ Parks, Public Spaces & Facilities
☐ Transportation
☐ Not Applicable
Master Plan:
Vision San Marcos - A River Runs Through Us
Background Information:
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.
With adoption of the annual Budget for Fiscal Year 2014-2015, the City of San Marcos established an Economic Development Supplemental Fund to complement existing economic development incentive tools and provide for land, buildings, equipment, facilities, targeted infrastructure, and improvements related to the creation or retention of primary jobs. A draft policy was created by staff and was recommended for approval by the Economic Development San Marcos Board on November 5, 2015.
City Council discussed this item on December 1st, and created a sub-committee to develop a final draft document for Council consideration. The sub-committee convened on December 7, 2015 and unanimously recommended adoption of the attached draft Policy Regarding Use of the Economic Development Supplemental Fund as an addendum to the 2013 City of San Marcos Economic Development Policy.
City Council held a Budget Policy Workshop on February 22, 2018, and discussed continuing annual contributions to the Economic Development Supplemental Fund, as well as potential uses of accumulated funding beyond those stated in the adopted policy. Subsequently, on June 19th, the Council approved Resolution No. 2018-119R, amending the Affordable/Workforce Housing Policy. The Economic Development Supplemental Fund was discussed as a potential funding source for Workforce Housing initiatives, and the City Manager directed staff to prepare an amendment to the Economic Development Policy for Council consideration.
A redline version of the Economic Development Policy is attached, which adds a definition of “Workforce Housing,” and amends the Economic Development Supplemental Fund Policy to provide that the fund may be used for “Other Projects,” specifically including real property acquisition, land planning, engineering and other activities associated with the development of Workforce Housing.
Council Committee, Board/Commission Action:
N/A
Alternatives:
Council may propose modified language or take no action.
Recommendation:
Staff recommends approval.