Discussion Regarding the Creation of a Comprehensive Economic Development Plan. City of Culver City California Agenda Item Report Meeting Date: 11/22/10 JOINT CITY COUNCIL / REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Discussion Regarding the Creation of a Comprehensive Economic Development Plan. Contact Person/Dept.: Redevelopment/Econ Dev. Division and Finance Department Fiscal Impact: Yes X No Phone Number: (310) 253 5769 (310) 253 5783 (310) 253 6013 General Fund: Yes No X Item Number: J 2 Public Hearing: Action Item: X Attachments: Commission Action Required: Yes No X Date: _______________ Public Notification: (E Mail) Meetings and Agendas Redevelopment Agency (11/17/10); Culver City Chamber of Commerce & Downtown Business Association (11/12/10). Department Approval: Sol Blumenfeld: (11/03/10) Jeff Muir City Attorney s Office Carol Schwab (by H. Baker) (11/16/10) Agency General Counsel Approval: Murray Kane: (11/04/10) City Manager/Executive Director Approval: John M. Nachbar (11/17/10) Chief Financial Officer Approval: Jeff Muir (by N. Kimball) (11/16/10) RECOMMENDATION: Staff recommends the City Council and Redevelopment Agency Board (*Agency Board) provide input and direction regarding the creation of a Comprehensive Economic Development Plan in order to enhance Culver City s business climate create a broad based economy with a strong employment and tax base ensure the City s ongoing fiscal health and the provision of quality City services. BACKGROUND: Flourishing cities require a healthy business climate a broad based economy with strong employment and tax bases and quality city services. A healthy business climate is synonymous with prosperous businesses good customer service well maintained streets and parks quality police and fire protection and high property values. This correlation between business health and city health must be nurtured by shaping economic priorities to make the most of a city s resources. An Economic Development Plan provides the best wa...
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