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investments to rebate a portion of the personal property taxes which they would incur as a result of the investment. Through this program, the City foregoes a portion of its personal property tax revenues in the short term. but in exchange encourages businesses to make investments in their San Leandro operations. Long-term benefits to the City include the potential for increased local employment, increased personal property tax revenues once rebate agreements expire, and increased revenues from secondary sources. such as sales taxes or business license tax due to increased sales. Encouraging capital investments also likely assists in retention, due to the increased competitiveness of businesses that invest in upgrading equipment. Roles and Responsibilities. This program is administered by Economic Development staff. Priority: MEDIUM. This is an existing program. Costs and Potential Funding Sources. Based on the potential value of rebates that could be granted, the costs for this program could be HIGH; however, aside from in -kind staff time required to negotiate rebate agreements, the City's main "cost" in implementing this program is the personal property tax revenues that will be rebated and since these rebates apply to new investments only, the City would not expend any current revenues. Action Z5: Continue Programs to Assist with Exterior Upgrades to Commercial Buildings Through the design assistance program, the City provides businesses and property owners with design assistance for exterior facelifts to buildings located anywhere within the Cih. This program is available to property owners located throughout the City, and allows the propem' owner to choose from a number of architects selected by the City, with the City paying the architect fees directly. Design assistance is available on a first come. first served basis. This program benefits the City by encouraging property owners to invest in upgrading the aesthetics of their properties and to do so with the assistance• of design professionals who can ensure a result that will be an asset to the community. The City also offers grants to property owners wishing to repair or install new awnings and signs or paint building exteriors within Redevelopment project areas. By offering assistance with exterior cosmetics of buildings, the City promotes the upkeep of its commercial districts. improving aesthetics and providing the public with a more pleasant environment. Businesses can benefit from better visibility and improved appearance. Through this program, propem owners can receive grants up to $2.500 for qualified improvements. Like the Design Assistance program, this program encourages propertyowners to invest in upkeep and aesthetic improvements. Ultimately the City benefits from a more attractive environment. which will tend to have a positive effect on surrounding properties as well as the subject propem . 43 251