California Code of Regulations › Title 25 - Housing and Community Development › Division 1 - Housing and Community Development › Chapter 7 - Department of Housing and Community Development Programs › Subchapter 21 - Enterprise Zone Program › Article 12 - Targeted Tax Area › Section 8448.6 - Economic Development Plan

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each Application shall include an Economic Development
						Plan. The Agency shall evaluate and numerically grade each Economic Development
						Plan on a competitive basis, based upon the categories and the corresponding
						point values set forth below and the scoring method described in section
						8448.11. The Economic Development Plan shall include the items described in
						subsections (a) through (e) below:
(a)
					 Marketing the Targeted Tax Area: up to 300 points.
The Economic Development Plan shall contain a detailed
						marketing plan for the Application Area. The marketing plan shall include the
						following information:
(1) An
					 explanation of the specific marketing goals and the course(s) of action to be
					 taken in order to attain the specified goals:
(2) A detailed description of the plans to:
(A) Keep existing businesses from leaving the
					 Application Area; and
(B) A
					 detailed description of the plan to help existing businesses to
					 expand;
(3) A detailed
					 description of the plans to attract new businesses into the Application Area.
					 In the description, the Applicant shall identify the types of industries
					 targeted for attraction.
(4) A
					 detailed description of the role of the local economic development corporation,
					 or similar organization;
(5) A
					 detailed description of the sales plan for on-site visits to existing and/or
					 new businesses;
(6) A detailed
					 analysis of the advertising and promotional strategy, including a media
					 analysis and samples of existing advertising and promotional
					 materials;
(7) A detailed analysis
					 of the staff, organization and budgets to be committed to the marketing plan by
					 all organizations;
(8) Specific
					 examples of successful efforts by the corporations or organizations identified
					 in subsection (a)(4) above to attract and/or retain businesses;
(9) A list of all Application Area commercial
					 real estate brokers who will handle real estate transactions within the
					 Application Area; and
(10)
					 Infrastructure: a detailed analysis and description of the availability and
					 condition of the infrastructure within the industrial or commercial (as
					 appropriate according to the type of businesses identified in subsection (a)(3)
					 above) area. The analysis and description shall include the condition, capacity
					 to deliver service, and available capacity of:
(A) Water supply;
(B) Storm drainage;
(C) Sewer and waste treatment
					 plant;
(D) Natural gas and
					 electric; and
(E) Streets and
					 street lighting;
(F) Any other
					 indicators of the capacity, condition and availability of the infrastructure
					 within the Application Area.
(11) A description of all plans to expand or
					 improve the infrastructure, including the projected costs, proposed financing
					 and the time tables for completion.
(12) A list of all agencies, organizations
					 and firms that will provide financial assistance to businesses within the
					 Application Area.
(13) An
					 explanation of the types of services each entity identified in subsection
					 (a)(14) offers and a detailed record of the companies that have received
					 financial assistance during the three (3) year period prior to the date the
					 section 8448.4(a) letter was mailed by the Agency.
(14) A list of all financial institutions
					 with facilities located in or near the Application Area that have expressed an
					 interest in making business loans to companies located in the Application Area.
					 A list of those financial institutions which are presently making loans
					 guaranteed by the United States Small Business Administration.
(15) A detailed description of the loans
					 available through programs currently offered by the Applicant, together with
					 data showing the result of these loan programs for the three (3) year period
					 immediately prior to the date the section 8448.4(a) letter was mailed by the
					 Agency.
(16) A description of any
					 other financial incentive programs currently in existence.