EDIC adopts three‑year start deadline for incentive projects

The Economic Development Incentive Committee on May 27 approved a policy requiring projects that receive incentive approval to begin construction within three years of the commission’s approval, or return for reconsideration.

Jim Gilmore presented the rationale for a firm cutoff after the committee and city assessor reported several instances where long delays created uncertainty about whether approved pilots remained active. “In practical terms, after about five years the assessor assumes the project’s canceled,” Gilmore said, and staff recommended a three‑year window to balance financing timelines with the need for clarity.

Committee members discussed the appropriate period. Supporters said complex financing and project partnerships sometimes require more time; one member observed that major projects have taken up to three years when partners changed or financing was delayed. Others said three years could feel long for routine projects and urged staff discretion or requirements for interim updates.

A motion to set the start deadline at three years was made and seconded; the committee approved the motion by voice vote with the chair calling for aye/oppose and saying the motion carries. The committee did not record a roll‑call tally or name the mover and seconder in the meeting minutes.

The new approach gives applicants a clear expectation for how long their approvals remain valid and directs staff to require earlier updates for projects that expect to take longer than routine timelines. Staff said exceptions or requests for short extensions can be brought back to the committee for consideration.