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6Oc, 8 vs1F,c 475 3. An update of the county's economic development policies and courses of action planned for the coming two years, including any projects that may require EDA financial assistance. On June 25, 1996, the Economic Development Council and the OEDP. Committee reviewed .and approved the attached OEDP Annual Report and directed staff to forward the report to the Board of County Commissioners for approval prior to submittal to he Economic Development Administration: ILNALYSIS The OEDP Annual Report identifies all economic development initiatives that the county has taken within the last year and the status of these initiatives. As part of its long-range economic development planning, the county has received an EDA grant to update the county's Commercial/Industrial Data Source, prepare an economic base study, prepare an economic development strategy plan, and develop a fiscal impact model for the county. The county has updated the Commercial/Industrial Data Source, prepared the Economic Base Study, developed an Economic Development Strategy Plan, and prepared an Economic Development Marketing Plan. The county fiscal impact model is 85.* completed. In the past year, the county approved several economic development incentives, including a local jobs grant program, participation in the state qualified target industry tax refund program, a traffic impact fee financing program, and a utility deposit waiver program. The county also endorsed holding an economic development tax abatement referendum. These incentives provide tools for attracting new businesses to the county and assisting existing businesses to expand. ALTERNATIVES With respect to the proposed OEDP annual report, the Board of County Commissioners has three alternatives. These are: • To approve the OEDP annual report • To approve the OEDP annual report with changes • To reject the OEDP annual report Either of the first two alternatives will ensure that the county maintains its Title IV redevelopment area- designation. Staff' supports the first alternative. The EDC, the OEDP Committee, and the staff recommend that the Board of County Commissioners approve the 1995/96 Annual OEDP Report and direct staff to submit a copy of the report to the Economic Development Administration (EDA). ON MOTION by Commissioner Eggert, SECONDED by Commissioner Macht, the Board unanimously approved the 1995-96 Annual OEDP Report, directed staff to submit a copy of the Report to the Economic Development Administration, pursuant to staff's recommendations, and added Penny Chandler to the Economic Development Council list in the OEDP Report. COPY OF REPORT WILL BE ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD WHEN RECEIVED CAIRNS TRACT LAAC SITE STATUS REPORT; MANAGEMENT CONSIDERATIONS The Board reviewed a Memorandum of June 25, 1996: JULY 29 1996 22 r