HomeMy WebLinkAboutOrdinance 23-2011Ordinance No. 23 -1 1
An Ordinance of the City of Brookings, South Dakota,
amending Ordinance No. 22 -05
Be It Ordained by the City Council of the City of Brookings, South Dakota as follows:
Section I. Amend Ordinance No. 22 -05 to read as follows:
Establishing the Retail Economic Development Investment Committed Fund
Balance, providing for its funding; providing for its use and providing for its rules
and regulations
Be It Ordained by the City Council of the City of Brookings, South Dakota as follows:
Section I. Establishment and purpose.
A. There is hereby established a committed fund balance to be known as the retail economic
development investment committed fund balance. The purpose of said committed fund
balance shall be to provide funds from the City to further the economic development
goals of the City by providing financial investment in projects which attract retail
enterprises that City Council determines will further the accomplishment of the City's
economic development goals. The retail economic development goals of the program
include efforts to expand the City's tax base, promote development that will enhance the
physical and economic environment of the City, provide permanent jobs and skilled labor
availability, services, and products within the City thereby improving employment
opportunities for the residents of the City of Brookings, foster revitalization of physically
deteriorating areas or buildings, promote development that will have a net positive impact
on City revenues, and produce a positive impact upon the community as a whole.
B. The granting of financial investment is determined to be a public purpose. Specifically, such
investment protects the public welfare by promoting and fostering the growth of the
City's economic base which in turn has positive effects by generating jobs, increasing the
tax base, services and products produced by the private sector, encouraging and providing
for the vitality of residential areas and of commercial and industrial businesses within the
City, as well as providing increased opportunities for employment for the residents of the
City and enabling the City to carry forward its functions in the preservation of the health,
safety and welfare of the citizens and residents of the City, all of which have a net positive
impact on City revenues, and, in general, improve the quality of life in the City.
C. The City Council specifically finds and determines that creation of the committed fund
balance for retail economic development investments fund is consistent with the City's
powers as a home rule municipal corporation and that exercise of said powers in the
manner set forth herein is in furtherance of the public health, safety and welfare of the
City. The City Council finds, determines, and declares that this ordinance is promulgated
under the general police power of the City of Brookings, that it is promulgated for the
health, safety and welfare of the public, and that the ordinance is necessary for the
preservation of health and safety and for the protection of public convenience and
welfare. The City Council further determines that the ordinance bears a rational relation
to the proper legislative object sought to be attained.
Section 2. Definitions.
For the purpose of this Ordinance, the following words and terms shall be defined as follows:
"City Manager" means the City Manager or his designee.
"Committed Fund Balance" means the retail economic development investment committed fund
balance created herein.
Section 3. Funding.
A. The committed fund balance may also be supplementally funded by City Council at its
discretion from transfers from any other accounts of the City.
B. The committed fund balance may also be loaned money from any other fund. The fund
may also be funded by the proceeds of bonds or other obligations issued and secured by
sales tax revenues imposed under 10 -52.
C. The committed fund balance may be funded by one or more of the methods found in A
through C above.
Section 4. Authorized expenditures.
A. Money from the committed fund balance shall be used to provide grants and other
financial investment for retail business enterprises located or to be located within the
corporate limits of the City of Brookings, whose proposals for financial investment have
been approved by the City Council.
B. Such investment shall be granted under such terms and conditions as may be authorized
by the City Council, pursuant to procedures described in Section 5 herein.
C. For projects which involve the construction of physical public improvements, the
amount of financial investment shall be related to the costs of constructing public
improvements as determined necessary to support the development project the
applicant is undertaking. The City may pay for all, or only a portion, of said public
improvements, at its complete discretion.
D. For projects which involve the revitalizations of physically deteriorating areas, the
amount of financial investment shall be related to the actual costs of renovation and
enhancement. The City may provide financial investment for some or all of said costs at
its complete discretion.
E. For projects described in Sections 4 (C) and (D), moneys from the committed fund
balance shall be strictly limited to uses which are public or public - related in nature. For
purposes of the committed fund balance, public or public - related purposes shall mean
public improvements, including but not limited to streets, sidewalks, curbs, gutters,
pedestrian malls, street lights, drainage facilities, landscaping, decorative structures,
statuaries, fountains, identification signs, traffic safety devices, bicycle paths, off - street
parking facilities, benches, restrooms, information booths, public meeting facilities, and
all necessary, incidental, and appurtenant structures and improvements, together with
the relocation and improvement of existing utility lines, and any other improvements of
a similar nature which are specifically approved by the City Council upon the City
Council's finding that said improvements are public or public - related improvements.
F. The City Council may, in its discretion, accomplish the purposes outlined in this
Ordinance in cooperation with other local, state or federal entities or agencies through
direct or participatory funding mechanisms approved by the City Council.
G. In addition to the projects specifically identified in this Ordinance, the City Council may
authorize expenditures from the committed fund balance for projects which, in its
judgment, advance the retail economic development goals of the City, projects include
but are not limited to the purchase of real or personal property and the disposal or sale
of such property at a price less than the purchase price, grants, economic studies,
engineering studies, studies concerning the design and construction of public and public -
related improvements and studies and activities related to the promotion of retail and
attraction of new retail businesses into the City.
Section 5. Procedural rules and regulations.
The following procedure shall be followed in considering requests for investment from the
committed fund balance:
A. The City Manager shall analyze the request for conformance with the criteria
established pursuant to this Ordinance.
B. The City Manager shall forward the request to the City Council together with a
recommendation regarding financial investment for the project, which shall include
suggested terms of participation.
C. The City Council may subsequently direct the City Manager to develop an agreement
between the applicant and the City or a cooperating local, state or federal entity or
agency which embodies such terms and conditions as the City Council deems
appropriate for the disbursement of moneys from the committed fund balance.
D. The Council may authorize, by resolution, the execution of an agreement or agreements
on behalf of the City.
E. The City Manager is authorized to promulgate administrative regulations to implement
provisions contained herein applicable to the economic development committed fund
balance.
F. This procedure shall not be applicable if the City Council has previously budgeted
and /or appropriated funds for programs or expenditures for the purposes described in
this Ordinance, nor shall it be applicable to the grant, or investment, refunds or the
waiver of reduction of fees found in other provisions of the Brookings Code of
Ordinances.
Adopted this 13`h day of December 20I I.
First Reading: November 22, 201 I
Second Reading and Adoption: December 13, 201 I
Published: December 16, 201 1
nes, City Clerk
CITY OF BROOKINGS
Tim Reed, Mayor