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File Number: 13-378 <br />lighting enhancements and seed funding for the formation of a community benefit <br />district <br />·Encouraging housing and office development around the downtown BART Station <br />·Execution of a public planning process for the Shoreline development and <br />management of the environmental review process <br />·Funding of the Next Generation Workplace District Study to support the creation of <br />vibrant, innovative and attractive 21 st century workplaces in the City’s industrial area <br />·Focusing the Community Development Department strongly toward economic <br />development <br />·Aggressive grant solicitation and procurement <br />As with most concepts, the above projects are in varied phases of completion and have yet to <br />see their full economic impact. As the City faces sustainability challenges, the need to <br />accelerate revenue efforts is apparent . <br />DISCUSSION <br />There is a great sense of momentum in the San Francisco Bay Area and San Leandro is <br />beginning to see heightened interest in the community from investors. Investment cycles are <br />short windows and specific to regions, and the Bay Area is fortunate because of its world <br />class universities, diverse workforce, world renowned laboratories, numerous multinational <br />corporations, natural resources and public infrastructure. These factors, along with the <br />innovation culture that drives venture capital and investment, is creating new opportunities for <br />cities. <br />San Leandro is in a great location, it has reliable infrastructure and affordability that positions <br />it to do well in this cycle of investment. Unfortunately, “well” does not do justice to the <br />opportunities and need that exist in this window. The City exists in a very desirable area that <br />creates real competition for jobs, investment and sales tax. Many communities in the Bay <br />Area have assets that they are marketing, creating a need for innovative and aggressive steps <br />that will drive quality investment to San Leandro. <br />BENEFITS OF THE PROPOSAL <br />The Business License Tax Holiday for truly new businesses is a concept that considers : <br />·The Bay Area is seeing an upswing in business expansion and growth <br />·A competitive environment for investment <br />·The need for new tools in San Leandro to replace the loss of $5,000,000 in <br />redevelopment funds <br />·The vacancy rates in key areas - commercial, retail and industrial <br />·Providing an opportunity to increase the City’s business base and grow the tax base <br />·Benefits for the entire community, including existing businesses, which will come from <br />an increase in new investment and the presence of new businesses. <br />San Leandro has adopted along with all of the other Alameda and Contra Costa cities an <br />“Open for Business” Pledge. This proposed program would take that pledge seriously and to <br />another level if approved by the City Council. <br />Page 2 City of San Leandro Printed on 7/10/2013