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HomeMy WebLinkAboutResolution 2013-036 creating the downtown marana reinvestment fundMARANA RESOLUTION NO. 2013-036 RELATING TO ECONOMIC DEVELOPMENT; CREATING THE DOWNTOWN MARANA REINVESTMENT FUND AND AUTHORIZING THE TOWN MANAGER TO ADMINISTER IT WHEREAS the Mayor and Council adopted the Marana Economic Roadmap on March 2, 2010, to establish Marana's vision and action strategies to attract job growth and private investment in the Town limits; and WHEREAS the Roadmap contains five focus areas, three of which are directly advanced by this resolution—Focus Area 1(Business Attraction, Retention and Expansion), Focus Area 2 (Resource/Business Support), and Focus Area 5(Community and Infrastructure Development); and WHEREAS the Roadmap directs Town staff to create various economic development initiatives and strategies, several of which are directly advanced by this resolution, including initiative 1.1 (develop and implement basic tools to market the community and provide assistance to existing businesses), initiative 2.1 (maintain policies, resources and tools that promote economic development), action strategy 2.1.4 (maintain an up-to-date portfolio of business incentives and policies and provide clear guidelines for their use), action strategy 2.1.6 (maintain a package of available tools and research best practices to identify new business assistance options), initiative 5.1 (systematically identify, prioritize, and implement infrastructure projects that support economic development goals, seeking public-private partnerships and create financing arrangement where possible), initiative 5.4 (develop a strong community foundation that will result in a quality business climate) and action strategy 5.4.3 (implement a community beautification program); and WHEREAS the Roadmap identifies Downtown Marana as one of nine activity centers for the Town's economic development and states that creating a thriving activity center as the core of the community is critical for establishing a strong community identity and sustainable economic base; and WHEREAS the Mayor and Council find that the creation and use for economic development purposes of a fund originating from construction sales tax and general sales tax revenues derived from businesses located in the Downtown Activity Center is in the best interests of the Town and its citizens; and WHEREAS the Mayor and Council find that the use of the fund as authorized by this resolution is of the highest priority during the current economic climate; and Mazana Resolution 2013-036 -1- WHEREAS the Mayor and Council find that the Downtown Marana Reinvestment Fund authorized by this resolution will make Marana more competitive in the attraction, retention and expansion of job-creating businesses and industries; and WHEREAS the Mayor and Council find that the Downtown Marana Reinvestment Fund will generate more direct and indirect revenue than the costs of the program. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, AS FOLLOWS: SECTION l. The Downtown Marana Reinvestment Fund is hereby created, under which the Town Manager is authorized to segregate certain designated tax revenues generated in the Downtown Activity Center and to spend said revenues on public infrastructure projects in the Downtown Activity Center. SECTION 2. The designated tax revenues that will be deposited into the Downtown Marana Reinvestment Fund are the following: A. Construction Sales Tax Revenues 50% of all construction sales tax revenues collected by the Town of Marana due to construction of new businesses or expansion of existing businesses in the Downtown Activity Center. B. General Sales Tax Revenues. 50% of all general sales tax revenues collected by the Town of Marana from new and existing businesses located in the Downtown Activity Center. SECTION 3. The Town will develop a Master Plan for the Downtown Activity Center. The Master Plan shall identify and prioritize public infrastructure projects desirable and necessary for the development of the Downtown Activity Center. The Town may spend the funds deposited into the Downtown Marana Reinvestment Fund on public infrastructure projects identified in the Downtown Activity Center Master Plan, including, but not limited to, public roads, public water and wastewater projects, public drainage and floodplain projects, and public beautification projects, including landscape/hardscape and parking areas with landscaping. SECTION 4. The following definitions shall apply for purposes of this resolution: A. "Construction sales tax" means that portion of the Town's transaction privilege taxes (currently 4%) generated pursuant to Sections 8-415 (Construction contracting: construction contractors), 8-416 (Construction contracting: speculative builders) and 8-417 (Construction contracting: owner-builders who are not speculative builders) of the Marana Tax Code from construction contracting in the Downtown Activity Center. B. "General sales tax" means that portion of the Town's transaction privilege taxes (currently 2%) generated from the following activities occurring in the Downtown Activity Center: l. Amusements, e�ibitions and similar activities pursuant to Section 8-410 of the Marana Tax Code. 2. Hotels pursuant to Section 8-444 of the Marana Tax Code. 3. Rentals pursuant to Section 8-445 of the Marana Tax Code. Mazana Resolution 2013-036 -2- Code. 4. Restaurants and bars pursuant to Section 8-455 of the Marana Tax 5. Retail sales pursuant to Section 8-460 of the Marana Tax Code. C. "Downtown Activity Center" means the area so identified in the Marana Economic Roadmap adopted on March 2, 2010. SECTION 5. The Town Manager is authorized to administer the Downtown Marana Reinvestment Fund, including determining appropriate expenditures of funds in accordance with the Downtown Activity Center Master Plan, and the various Town officers and employees are authorized and directed to perform all acts necessary or desirable to give effect to this resolution. The Town Manager may seek such formal or informal feedback from representatives of businesses located in the Downtown Activity Center as the Town Manager deems necessary to carry out the goals and purposes of this resolution. SECTION 6. This resolution shall be effective as of July 1, 2013 and shall continue in effect until June 30, 2018. _ SECTION 7. While this resolution is in effect, the use of those construction sales tax revenues addressed by this resolution shall control over any other conflicting or different use of Marana construction sales tax revenues as directed in previously-adopted Marana resolutions. PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, this 16�' day of April, 2013. � — ayor Ed Honea ATTEST: celyn . Bronson, Town Clerk APPROyED A� TO FORM: , Town Marana Resolution 2013-036 -3-