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CITY COMMISSION AGENDA ITEM |
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Department: |
City Manager’s Office |
Commission Meeting Date: June 20, 2017 |
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Staff Contact: |
Britt Crum-Cano, Economic Development Coordinator |
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Recommendations/Options/Action Requested: |
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Consider possible expansion of the Catalyst Program beyond Lawrence VenturePark and East Hills Business Park to include all IG zoned properties within the City of Lawrence as of June 1, 2017 and a 25,000 square foot minimum new building requirement. |
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Executive Summary: |
At its meeting on May 2, 2017, the City Commission received a follow up report from staff regarding possible expansion of the Catalyst Program.
Should the City Commission wish to expand the Catalyst Program, staff suggests that the expansion be limited to lots that are currently zoned IG within the City limits, and have a minimum 25,000 square foot new building requirement. |
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Strategic Plan Critical Success Factor |
Effective Governance/Professional Administration Economic Growth and Security |
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Fiscal Impact (Amount/Source): |
The fiscal impact to the City would be related to the applicants wishing to pursue this program. The incentive provided by the property tax abatement would be 50%-70% of the new investment and will be covered by the new investment. Existing property tax base would not be affected assuming the new building requirement. |
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Attachments: |
Staff report regarding possible expansion of Catalyst Program |
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Reviewed By: (for CMO use only) |
☐TM ☒DS ☐CT ☐BM |