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CC Resolution 10622 RESOLUTION NO. 10622 A RESOLUTION OF THE CITY OF CAMPBELL CITY COUNCIL ADOPTING THE 2006 ECONOMIC DEVLOPMENT STRATEGY WHEREAS, the City of Campbell Strategic Plan states that one of its community goals is to be fiscally reliant and to provide effective municipal services; and WHEREAS, each year it becomes increasingly challenging to fund on-going municipal services and city infrastructure due to escalating costs and finite resources; and WHEREAS, helping to build and sustain a reliable tax base is essential to financing effective municipal services; and WHEREAS, the City can employ strategies and programs that will enhance the environment in which business can prosper and help contribute to a sustainable tax base. NOW, THEREFORE, BE IT RESOLVED, that the City of Campbell City Council adopts the 2006 Economic Development Strategy. PASSED AND ADOPTED, this 21st day of March, 2006 by the following roll call vote: AYES: NOES: ABSTAIN: ABSENT: Councilmembers Councilmembers Councilmembers Councilmembers Kennedy, Hernandez, Burr, Furtado, Watson None None None APPROVED: ~~~ Jean e Watson, Mayor ATTEST: ~ Anne Bybee, City Clerk j :\resos\edreso.doc CITY OF CAMPBELL ECONOMIC DEVELOPMENT STRATEGY --:--....;., Adopted March 21, 2006 INTRODUCTION The City of Campbell has a history of providing high level municipal services, commercial goods and services, employment and housing opportunities that have resulted in a sense of high quality of life and community. During the last five years Campbell, like the rest of Silicon Valley, has felt the sting of a lingering depressed economy. State budget problems, lower tax revenues, higher costs , and structural changes in the economy of Silicon Valley have all contributed to the challenging times for cities to maintain a sustainable revenue base. While the high tech industry drives the economy in Silicon Valley, Campbell has a diverse economy in that it is not heavily vested in the high tech industry but rather enjoys a wide variety of commercial retail and business to business industries. This diverse tax base is better suited for sustained economic success as opposed to fleeting success that is experienced in other communities that are highly leveraged in one industry. A sustained economy should lead to: ~ Quality of life for our residents ~ A prosperous economy for the business community ~ A sustainable revenue growth to maintain quality City services and fund infrastructure improvements Economic development is the process of creating and maintaining community prosperity through a healthy local economy and strong tax base that helps ensure services remain at a high level. A sustainable economy does not come automatically and it cannot be just a private sector concern. This Strategy is an instrument to help serve as direction for implementing programs and practices that help create opportunities for economic development partnerships between local government and private enterprise in an effort to further support and enhance economic resources. Creating and maintaining a desirable quality of life for our residents is dependent upon the City's ability to provide quality services such as police, fire, recreation, senior services, as well as providing adequate and safe infrastructure such as roads and public facilities. Quality municipal services and infrastructure are provided for a cost that must be generated by a sustainable revenue stream. Sustaining and growing the City's tax base is essential in this regard. The City of Campbell is committed to providing quality services and therefore is committed to helping create an attractive and conducive environment for business to prosper which in turn will help maintain a sustainable tax base. City of Campbell Economic Development Strategy 1 OBJECTIVES . To develop and maintain a sense of public/private partnership and cooperation throughout the organization through the development of business relationships and improved customer service; . To foster business retention and expansion by monitoring the needs of the business community and then being responsive to those needs; . To maximize the potential of the City's commercial property assets while balancing the pressure for development with sound land use decisions; . To identify and track economic trends relevant to Campbell and be prepared to maximize the opportunities such trends present; . To help enhance and promote a strong local economy that in turn helps maintain municipal services and the community's quality of life. PROGRAMS AND STRATEGIES I. Business Retention and Expansion The retention and expansion of existing business is essential to maintaining sustainable employment and tax base. It also assists in attracting new business. To the extent a city can influence these decisions, the retention and expansion policies are directed toward developing business relationships, gathering and exchanging information, and determining the needs of business so that local government can be responsive. Helping to create a productive environment for business and providing excellent customer service is key. A. Economic Development Advisory Committee: This Committee would be appointed by the City Council and would consist of two Council members, and representatives from business and residents of the community. This Committee would meet two to four times a year. The goals and objectives would be: 1. To exchange ideas on how the City can better serve the business community; 2. For the City to provide an economic "State of the City" report once a year and get feedback; 3. For the Committee to help keep the City in touch with issues and economic trends and advise the City on issues that could affect policy decisions; City of Campbell Economic Development Strategy 2 4. The Committee may be used as a sounding board for City policy that will affect the business community and for the Committee to help shape economic development policy. B. Economic Development Team: This team would include representatives appointed by the City Manager from the various City departments such as RDA, Public Works, Planning Building and Finance, to serve as a clearinghouse for facilitating economic development projects and addressing economic development issues such as: 1. Facilitating interdepartmental cooperation on business related issues and increase awareness throughout the organization of the importance of economic development. 2. Identify sites that may be ripe for reuse and make recommendations as to how the City can put itself in the best position to achieve the highest and best use of that site. 3. Identify and recommend revenue enhancement opportunities; 4. Identify. "Critical Projects" that present an opportunity to generate significant tax dollars and/or employment and ensure project review, plan check, department and agency coordination are streamlined. In essence, "get the product to market" responsibly, but efficiently. C. Meet With Business: City representatives will meet with the business managers, CEOs and store owners of strategic businesses to establish and maintain communication lines to: 1. Foster a productive and trusting relationship between City Hall and private business; a. Develop an understanding of the business community and how local government can better respond to its needs; b. Develop a sense of community; and c. Express appreciation for the role and contribution business brings to the Campbell community. D. Citywide Taraets: Identify development or redevelopment opportunities. Meet with property owners, prospective developers and commercial brokers to determine the highest and best of these sites and explore their potential. City of Campbell Economic Development Strategy 3 E. Downtown Strateav: Staff has identified several sites in the downtown area that are ripe for redevelopment. Staff will seek approval of a strategy from the Downtown Sub-Committee to facilitate the redevelopment of these key sites. While the primary focus for redevelopment of these sites is to eliminate blight and help "tie together" the downtown, all have the potential to generate additional revenue. Additionally, the improved synergy generated by new development downtown helps solidify the downtown area as a dependable revenue source for the City. The RDA will continue use of the Storefront Improvement Program in the downtown core as an incentive to improve the quality of buildings and a means of helping to create attractive storefronts that contribute to successful businesses. F. Business License Amnesty Proaram: Staff will work with its consultant to analyze the cosUbenefit of providing an amnesty program for those businesses operating in Campbell without a business license. The crux of the program would be to forgive penalties for those delinquent businesses if they secure a business license within a specified period of time. The hope is that the program would encourage those businesses to pay their business license tax thereby increasing the long term tax base. G. "Shop Campbell" Campaian: Staff will work with the Chamber of Commerce to devise a campaign that educates and encourages Campbell residents to buy locally and keep the sales tax dollars in Campbell. Public awareness through articles and possibly store window posters will help get the word out. H. "Doina Business" Brochure: This is a brochure that will outline the "step by step" process for conducting business in Campbell. This can be made available in the City Clerk's office and at the various service counters throughout City Hall and on the web. I. Develop Economic Development Paae on City Website: Expand the City's web site to include an Economic Development page that would promote the "Shop Campbell" theme, identify significant property that is for sale or lease, and provide demographic "Facts & Figures" important to potential new business and prospective developers. J. Gatewav Sians: Staff will explore installing gateway signs that announce the entry into Campbell from the various entry points surrounding the City. City of Campbell Economic Development Strategy 4 K. Business Recognition and Appreciation While the most effective way to demonstrate recognition and support for the business community is cooperatively working together, at times an outwardly gesture of local government's appreciation is warranted. The City will: 1. Sponsor a Business Appreciation Event once a year for key business leaders. 2. Send "Welcome" letter to new businesses in Campbell that welcomes them into the community. L. Ombudsman The Economic Development staff will act as a liaison between the business community and City Hall providing assistance, direction and conflict resolution as needed. II. Proaram Monitorina Evaluating programming is an important part of the plan process. Monitoring provides feedback to ensure that programs are providing the greatest benefit and to allow a change of direction if required. An annual report and work program will be prepared. City of Campbell Economic Development Strategy 5