ITEM TITLE:
New Business: Business incentives
SUBMITTED BY: Martha Barberio, Economic Development Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A.
RECOMMENDATION:
Receive and file
SUMMARY STATEMENT:
I have had several developers contact me in the past few weeks. They range from wanting to build low income, senior and/or assisted living and moderate priced housing. It would be beneficial for the city to offer these developers incentives to come build housing in Valdez. We all know the cost to build is very expensive and therefore that expense is passed on to the home buyer. We need to come up with a process and some incentives to recommend to council for possible developers.