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Council approves industrial bond financing item after company agrees to living‑wage terms
Summary
An industrial bond financing package to support equipment purchases for a company in an empowerment zone — estimated $4.7 million, creating about 70 jobs — was approved after committee negotiations produced voluntary living‑wage commitments from the company; council sought additional follow‑up to maximize zone incentives for quality jobs.
The City Council approved an industrial bond financing request for a company planning to locate in an empowerment zone after the company agreed to pay a living wage as part of follow‑up negotiations.
Council discussion, raised initially in committee, centered on whether city assistance should contribute to the creation of low‑wage jobs. Councilmember Mike Hernandez said the package — which the committee previously reviewed — involved approximately $4.7 million in bond financing to buy equipment that would create roughly 70 jobs in the empowerment zone. Hernandez said the original committee had negotiated with the company after concerns were raised that many proposed jobs would fall below the city’s living‑wage standard.
According to the committee discussion summarized to the full council, the company has voluntarily agreed to pay a living wage; Hernandez said officials also would pursue other empowerment‑zone benefits and incentives (tax credits, workforce investment funds, energy discounts) to raise job quality. The council approved the amended motion and directed departments to engage the company to ensure it takes advantage of available benefits.
The motion passed 12–0. Councilmembers described it as an example of using public support to improve job quality rather than subsidize low‑wage employment.
