Laserfiche WebLink
Amendment to Consulting Services Agreement with <br />Tassa Consulting Group, LLC and Cooperative Agreement <br />May 5, 2008 <br />Page 2 <br />be economically challenged. The program offers State Tax Incentives to <br />businesses in the zone, helps communities retain companies, and attracts <br />new companies to the area. As a result, new jobs are created and blight <br />is reduced. <br />The City of Santa Ana received a fifteen -year Enterprise Zone designation <br />in 1993. Businesses in the Santa Ana Enterprise Zone have saved an <br />estimated $350,000,000 by utilizing the State income tax credits. The <br />program has also helped generate over 15,000 new jobs for Santa Ana <br />businesses. The current designation will expire on June 7, 2008. The new <br />fifteen -year Enterprise Zone designation will allow the City of Santa Ana <br />to continue offering local businesses California State Tax Incentives and <br />continue with its economic progress. <br />On January 31, 2008, the Department of Housing and Community Development <br />(HCD) awarded a conditional designation to the Santa Ana Enterprise Zone. <br />This new fifteen -year Enterprise Zone designation will become effective <br />on June 8, 2008. On March 17, 2008, a letter from HCD was mailed to the <br />City of Santa Ana specifying the conditions the City must satisfy in <br />order to obtain final designation. Tassa will assist with meeting the <br />conditions outlined in the letter in order to receive final designation. <br />Tassa will also assist with negotiating and finalizing an Memorandum of <br />Understanding (MOU) between The City of Santa Ana and HOD. This MOU will <br />document exactly what must be done by the City of Santa Ana to maintain <br />Enterprise Zone eligibility. <br />Tassa will assist with the approval by HOD of a Targeted Employment Area <br />(TEA) for Santa Ana. The TEA is one of the criteria that will enable an <br />Enterprise Zone business to qualify an eligible employee for the Hiring <br />Credit. <br />After Santa Ana receives final Enterprise Zone designation, Tassa will <br />assist with expanding the Santa Ana Enterprise Zone to recapture areas of <br />the city that were in the previous Enterprise Zone but did not qualify <br />for the new Enterprise Zone. An expansion of the Enterprise Zone can be <br />as much as fifteen percent of the area of the approved Enterprise Zone <br />area. <br />6 -38 <br />