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REQUEST FOR <br /> <br /> COUNCIL ACTION ~ <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> FEBRUARY 1, 2010 <br /> TITLE: APPROVED <br /> ? As Recommended <br /> SANTA ANA ENTERPRISE ZONE ? As Amended <br /> EXPANSION APPLICATION ? Ordinance on 15` Reading <br /> ? Ordinance on 2nd Reading <br /> ? Implementing Resolution <br /> ? Set Public Hearing For <br /> CONTINUED TO <br /> y~~-------~ FILE NUMBER <br /> CITY MANAGER <br /> RECOMMENDED ACTION <br /> Adopt a resolution authorizing the submission of an application to the <br /> California Department of Housing and Community Development for the <br /> expansion of the Santa Ana Enterprise Zone. <br /> DISCUSSION <br /> On September 2, 2009, the City of Santa Ana received a Final Designation <br /> from the California Department of Housing and Community Development for a <br /> new 15-year Enterprise Zone, which was retroactively effective to June 8, <br /> 2008. <br /> The Enterprise Zone program was established by the State of California <br /> Legislature for the purpose of stimulating the economy in areas deemed by <br /> the State to be economically challenged. The program offers State Tax <br /> Incentives to businesses in the zone which, in turn, helps the City <br /> retain and attract companies within the zone. <br /> The program regulations allow for Enterprise Zones to expand their zone <br /> by up to fifteen percent of the originally approved area. The fifteen <br /> ercent ex ansion areas do not have to meet the strict re uirements of <br /> P P q <br /> the original Enterprise Zone areas. Through the expansion process, more <br /> businesses will become eligible to reduce their costs by taking advantage <br /> of the various Enterprise Zone State Tax incentives. A map depicting the <br /> current and proposed zone boundaries is attached as Exhibit 1. <br /> 55A-1 <br /> <br />