Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
BILL NO. 17-098Ord.No:          18799

Agenda Title:

17-098 - 2R. An ordinance repealing Ordinance No. 17174 passed on November 3, 2008 by the City Council.
Recommendations:

Staff recommends approval.
Executive Summary:

On November 3, 2008 City Council passed Ordinance No. 17174 establishing the Franchise Assistance Program. The intention of the program was to provide financial incentives to individuals interested in locating nationally or regionally recognized franchises in commercial districts in western Independence and Noland Road. The program would provide up to $25,000 to assist in the payment of franchise fees or other costs related to the start up of the franchise. The franchises that are being supported must provide goods or services that are subject to local sales tax in order to qualify.

Since the inception of the program in November of 2008, only two entities have utilized this program; both in 2011. In current day, developers are seeking more mainstream economic development incentives such as Community Improvement Districts, Tax Increment Finance and Tax Abatement. Due to very low utilization in last 9 years and the lack of interest in developers for this type of economic development incentive, staff is recommending that the program be terminated.  


Department:          FinanceContact Person:          Brian C. Watson


REVIEWERS:
DepartmentAction
City Clerk DepartmentApproved

Council Action:          Council Action:          Accepted

ATTACHMENTS:
DescriptionType
Establishment OrdinanceBackup Material
Establishment Agenda CoversheetBackup Material
OrdinanceOrdinance