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City staff rewrites Chapter 29 incentives to broaden eligibility, tighten review and require performance verification
Summary
Economic development staff proposed consolidated, clarified changes to Chapter 29 (economic-development incentive programs) including new eligibility rules, expanded priority industries, a shift toward reimbursement for small-business grants, updated review criteria and tighter clawback/lien rules for programs that disburse funds upfront.
City staff proposed comprehensive revisions to Chapter 29 of the municipal code, the section governing Cape Coral's economic development incentive programs, during the Oct. 15 Committee of the Whole meeting. The changes would clarify program goals, consolidate financial-review language, tighten conditions for incentive awards and expand eligibility for certain program lines.
Sharon Woodbury, the city's economic development manager, presented a reorganization of Chapter 29 that moves the code's written goals into the main program section and consolidates financial-responsibility…
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