On May 6, 2019, the City Council passed Resolution No. 6431 adopting the Economic Development Policy as a means to promote community prosperity through the thoughtful use of incentives in a manner which is both attractive to developers and fair to taxing jurisdictions. The Policy was developed with the input of many community partners, including the School Districts, other taxing authorities, the EDC and Chamber. It serves as a valuable tool for the development process.
On April 19, 2021, the City Council passed Resolution No. 6669 amending the Economic Development Policy to add a section on Land Clearance for Redevelopment Authority (LCRA) as a means to combat blight and promote quality in-fill residential redevelopment.
In May 2022, the City Council passed Resolution No. 6800 adjusting the scope of the Independence Economic Development and Incentive Commission (EDIC) to remove Neighborhood Improvement Districts, Community Improvement Districts, and Transportation Development Districts from EDIC review. The purpose of the EDIC is to provide an opportunity for taxing jurisdictions other than the City to participate in the review of incentives that affect those taxing jurisdictions. The formation and implementation of Neighborhood Improvement Districts, Community Improvement Districts, and Transportation Development Districts do not involve the abatement or reallocation of taxes that would otherwise be paid to taxing jurisdictions.
This resolution would update Economic Development Policy to reflect the adjusted scope of the Independence Economic Development and Incentive Commission and make certain other grammatical updates.