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Council adopts code updates to Lakewood's Economic Development Fund to emphasize economic mobility
Summary
Lakewood approved ordinance O-2026-13 to modernize Chapter 3.26 of the municipal code: updates include adding 'economic mobility' to definitions, broadening allowable public benefits, and adding performance metrics and oversight for incentives; council asked staff to return with detailed metrics and oversight procedures.
On April 27 the Lakewood City Council approved changes to Chapter 3.26 of the Lakewood Municipal Code (ordinance O-2026-13) on second and final reading, updating definitions and procedures for the Economic Development Fund.
Will Chen, the city's director of economic development, told council the fund (established in 1985 and sustained by a lodging tax and a 1987 voter measure) is not being used to create new taxes or programs, but to modernize code language and align…
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