September 11, 2024 Economic Development Advisory Board Minutes
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Page 1 MINUTES OF THE ECONOMIC DEVELOPMENT ADVISORY BOARD OF THE CITY OF CHANDLER, ARIZONA, WEDNESDAY, SEPTEMBER 11, 2024, HELD IN-PERSON AT CHANDLER CITY HALL, 175 S. ARIZONA AVE., CHANDLER, ARIZONA. Board Present: Kari Zurn, Chairwoman Julie Graham, Vice-Chair Micah Miranda, Secretary Neil Calfee, Board Member Raj Chakraborty, Board Member Anthony Deard, Board Member Chris Dobson, Board Member Jennifer Hewitt, Board Member Jacob Knudsen, Board Member Rommie Mojahed, Board Member Karla Moran, Board Member Dan Serrano, Board Member Ryan Smith, Board Member Terri Kimble, Ex-Officio Joshua Wright, Ex-Officio Board Absent: Ron Hardin, Board Member Carla Holloway, Board Member Others Present: Councilmember Christine Ellis Councilmember Angel Encinas Councilmember Jane Poston Councilmember-elect Jennifer Hawkins Joe Abeita, Economic Development Chandler Escalante, Economic Development Chelsey Faggiano, Economic Development Ryan Kaup, Economic Development Kimberly Janes, Economic Development Edyie McCall, Economic Development Odette Moore, Economic Development Caly Strickler, Economic Development Michael Winer, Economic Development Tawn Kao, Law Department Matt Dunbar, Management Services Department 1. Call to Order/Roll Call Ms. Kari Zurn called the meeting to order at 8:30 a.m. 2. Approval of Minutes Mr. Neil Calfee made a motion to approve the minutes from Wednesday, June 12, 2024. The motion was seconded by Ms. Karla Moran. Minutes approved unanimously. Page 2 3. Action Items None. 4. Briefing Items A. Arizona Gift Claus Overview Assistant City Attorney Tawn Kao provided an overview of the Arizona Gift Clause (Arizona Constitution, Article 9, Section 7). She outlined the history of the Gift Clause, reviewed court cases that involved Gift Clause challenges, and discussed guidance from the Arizona Supreme Court to determine if an expenditure of public funds violates the Gift Clause. Ms. Kao then explained how the Gift Clause impacts economic development projects and how municipalities are able to structure incentive agreements. She noted cities can support economic development efforts without risk of violating the Gift Clause by investing in public infrastructure and placemaking projects, eliminating unnecessary regulations that increase the cost of doing business in the city, and revising the zoning code to facilitate the attraction of businesses in targeted industries. She concluded by reiterating that any incentives considered by a municipality should be written into a binding agreement where the developer or business promises to provide defined, direct, and proportionate benefits. B. City Capital Project Funding/Bond Election Discussion Budget and Policy Director Matthew Dunbar provided the board with an update on the City of Chandler’s 2024-2034 Capital Improvement Plan (CIP) as well as the General Obligation (GO) Bond Authorization. Mr. Dunbar began with an overview of the city’s Strategic Framework focus areas, noting that each has related capital needs included in the CIP: • Economic Vitality • Sustainability and Technology • Connectivity • Neighborhoods • Quality of Life • Community Safety He then discussed how the nearly $2.5 billion in the 10-year CIP is funded: • 68.4% Bond Funded • 22% Current Revenues/Fund Balance • 7% Grants • 1.9% Systems Development Fees Page 3 Mr. Dunbar then walked through the current GO Bond Authorization budget, explaining that capital projects have been more expensive than anticipated due to construction cost increases. He said funds have been depleted sooner than planned as a result and that voters will need to authorize the city to issue additional GO Bonds to continue these capital programs. He then discussed the Bond Exploratory Committee that will be formed and the bond election process. Mr. Dunbar concluded with a sample committee timeline showing tentative dates for member selection, kick-off meetings, approval of recommendations, and call for Bond Election by City Council. 5. Advisory Boardmember Comments None. 6. Next Meeting Ms. Zurn announced the next Economic Development Advisory Board meeting will be held on Wednesday, December 11, 2024. A calendar invite will be sent to all board members in advance. 7. Adjournment Ms. Zurn adjourned the meeting at 9:35 a.m. Respectfully Submitted, ________________________________ Kari Zurn, Chairwoman ________________________________ Micah Miranda, Board Secretary