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Staff proposes ‘skin‑in‑the‑game’ deposit to sharpen developer incentives
Summary
Economic development staff described options for targeted incentives—impact‑fee waivers in select cases and a proposed deposit/bond system to hold developers accountable for performance on city‑owned or incentivized sites; staff urged transparent community input before awards.
Steve Weathers outlined incentive tools the city can use to attract projects while protecting public resources. He described examples used elsewhere—selective impact‑fee waivers for targeted projects, and a deposit or performance bond mechanism that requires a small up‑front payment by a developer which is forfeited to the affordable‑housing trust fund if the developer fails to meet agreed milestones.
"You've got some skin in the game to get this thing done," Weathers said when describing a proposal for modest upfront deposits or bonds that would be returned if the developer performs. He recommended a transparent approach tied to clearly defined deliverables and community input to avoid public backlash and ensure incentives align with neighborhood priorities.
