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Consultants present draft economic development plan; council to consider adoption in July
Summary
Cosmont Companies presented a draft economic development strategic plan emphasizing business retention, value-capture finance (EIFD/CFD), downtown placemaking and a proposed sports/entertainment district; staff said it may return July 7 for possible adoption after council questions about impacts on the Agra Center and west-side priorities.
Tallery —2 —3 Consultants from Cosmont Companies briefed the Tallery City Council on a draft economic development strategic plan (EDSP) on June 16, outlining a set of tools and short-, mid- and long-term actions designed to spur commercial, industrial and downtown growth.
Jennifer Gomez introduced the presentation. Ken Hira, Cosmont president, and Fernando Sanchez described the city's assets —2 the amphitheater, outlet center, Agra Center and fairgrounds —2 and summarized market analysis that shows strong retail, industrial and multifamily performance in the region. Cosmont's recommendations included targeted business retention and attraction work, façade and small-business incentives, value-capture finance (including community facilities districts and an enhanced infrastructure financing district or EIFD), downtown placemaking and a sports/entertainment district anchored by a proposed 100,000-square-foot sports facility.
"We think an EIFD is probably a tool to focus on within the toolkit for the city of Tallery," Ken Hira said, explaining it could help pay for needed infrastructure in new opportunity sites.
Fernando Sanchez summarized near-term projects that informed the plan: a planned business park and inland port for logistics, a retail Vesta project at Cartil and Highway 99, proposed industrial growth and a potential entertainment district. The consultants proposed measurable performance metrics (commercial permits, assessed value, business licenses, sales-tax receipts, hotel revenues) and a roadmap that lists actions to pursue in the first six months and over the next three years.
Council members raised questions about whether a new indoor sports facility would compete with the Agra Center. Cosmont and city staff recommended coordination and multiuse design to avoid duplication, noting the Agra Center has its own draft master plan but has not yet publicly presented final plans.
Council voted to continue the discussion, and staff said they intend to bring the EDSP back for possible adoption on July 7 (or July 21 if council requests more time). The presentation sets out financing options and a sequence of policy steps that would require further council direction before any revenues or public commitments are pledged.
