Report to Mayor and City Council
Tuesday, March 01, 2022
Special Orders of the Day
SUBJECT:
Title
SECOND READING OF ORDINANCE NO. 22-2201: ADOPTION OF AN ORDINANCE OF THE CITY COUNCIL OF CITY OF CARSON, CALIFORNIA APPROVING AN ECONOMIC DEVELOPMENT BENEFIT AGREEMENT WITH SOUTH BAY CARSON, LLC. (CITY COUNCIL)
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I. SUMMARY
On February 15, 2022 under Item No. 24 of Council Agenda, City Council voted 5-0 to introduce Ordinance No. 22-2201.
II. RECOMMENDATION
Recommendation
CONDUCT a Second Reading by title only and with further reading waived, and ADOPT Ordinance No. 22-2201 “An ordinance of the City Council of City of Carson, California Approving an Economic Development Benefit Agreement with South Bay Carson, LLC.”
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III. ALTERNATIVES
TAKE any action the City Council deems appropriate.
IV. BACKGROUND
On February 15, 2022 of the Council meeting, the City Council introduced Ordinance No. 22-2201 to adopt an ordinance of the City Council of City of Carson, California to approve an Economic Benefit Agreement with South Bay Carson, LLC.
V. FISCAL IMPACT
The City of Carson is projected to receive approximately $40,000,000 in sales tax revenue over the life of the Agreement after computing the maximum subsidy to be paid of up to $18,000,000 by way of sales tax rebates.
VI. EXHIBITS
1. Ordinance No. 22-2201 (pgs. 3-5)
Prepared by: Saied Naaseh, Community Development Director