TITLE
Recommendation to request City Manager to provide a report to the City Council within 30 days identifying the fiscal impact associated with waiving the business license fees for a new business for their first year.
DISCUSSION
One of Mayor Garcia and the City Council's highest priorities is Economic Development.
As part of the adopted budget, the City Council approved Mayor Garcia's recommendation to create an Economic Development Department in order to support our business community.
As part of the City's economic development efforts, we need to identify methods to attract new businesses to Long Beach. One alternative is to eliminate or reduce the Business License fees associated with new businesses. An option to explore is waiving the Business License fees for the first year of a new Long Beach business.
FISCAL IMPACT
There is no significant fiscal impact for the delivery of the report. The report from the City Manager is required to determine the fiscal impact associated with potentially modifying business license fees.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
SUZIE PRICE
COUNCILWOMAN, THIRD DISTRICT
STACY MUNGO
COUNCILWOMAN, FIFTH DISTRICT
ROBERTO URANGA
COUNCILMEMBER, SEVENTH DISTRICT