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Item C - Enterprise Zone
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Item C - Enterprise Zone
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6/9/2010 1:17:46 PM
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10/6/2004 2:58:39 PM
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City Council
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Agenda Item Summary
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10/11/2004
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employees when their new investment was qualified. Because the continuation of this small <br /> business focus in a newly created zone is a desired outcome, it is important that additional local <br /> conditions provide equal or greater access to the tax exemption for these local small businesses. <br /> <br /> Central to the idea of "smart growth", policies should encourage density in areas already served <br /> by infrastructure, which has the effect of conserving open space and irreplaceable natural <br /> resources on the urban fringe. Benefits of smart growth development policies include a stronger <br /> tax base for the community, closer proximity of a range of jobs and services, increased efficiency <br /> of already developed land and infrastructure, reduced development pressure in edge areas, and <br /> preservation of more open space. <br /> <br /> Although it may be difficult for specific additional conditions related to smart growth and mass <br /> transit to meet the state's "employment opportunities" limitation, the tax exemption can be used <br /> as a tool to "encourage" smart growth principles. The recommendation forwarded by the <br /> Mayor' s Committee on Economic Development does incorporate principles of smart growth. <br /> The recommendation provides greater benefits for redevelopment, infill, and brownfield <br /> investments; and the boundary recommendation is focused on the encouragement of a dense <br /> pattern of development within an industrial area with infrastructure already provided. <br /> <br />4. What definitions are being used to classify redevelopment, infill, brownfield, and greenfield <br />development? <br /> <br />Redevelopment- reusing, renewing and restoring existing structures, including structural improvements <br />and production improvements; removal of non-economic or outdated improvements; consolidation and <br />clearing of property. <br /> <br />Infill Development - creation of new and higher density uses for land within existing developments, <br />including expansion of existing facilities on adjacent property, and development of underutilized lots <br />within an existing development area. <br /> <br />Brownfield Development - abandoned, idle, or under-utilized industrial and commercial properties <br />where expansion or redevelopment is complicated by real or perceived environmental contamination. <br /> <br />Greenfield Development - new development occurring on the periphery of an existing built-up area, on <br />a parcel of land not previously developed <br /> <br /> L:\CMO\2004 Council Agendas\M041011 \S041011C.doc <br /> <br /> <br />
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