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Council approves updated economic development policies including TIF and triple‑bottom‑line rubric
Summary
Council approved a package of revised city policies (including tax‑increment financing policy 306, sales tax incentive grant policy 309, and a new triple‑bottom‑line policy 321) that add equity, environment and economy criteria and revised thresholds for incentive awards; staff recommended approval after a multi‑year review.
City Manager Paul Racino presented revised council policies on Aug. 13 that city staff and council members had reviewed over the past four years. The most significant changes affect economic development governance: Policy 306 (tax‑increment financing) was rewritten to reflect best practices and consultant advice and adds developer equity and increased performance requirements; Policy 309 (sales tax incentive grants) was adjusted to require alignment with the economic development master plan and return‑on‑investment thresholds; and a new Policy 321 establishes a triple‑bottom‑line rubric requiring analysis of equity, environment and economy for incentive requests.
Racino said the review included the city attorney, city clerk, deputy city manager and other staff; Councilmembers Tiltonburn and Avery co‑led portions of the review. Staff recommended approval and council approved the resolution by roll call. Council members thanked staff and review participants for completing a multi‑year policy refresh that will tighten criteria and transparency for future incentive decisions.
