Council hears Economic Development Commission report: business-license revenue, largest business types and distressed commercial properties
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Council member Pashon Hellman summarized June EDC findings: 85% license-renewal rate, license fees generate about $200,000 for the general fund, professional services are the most common business type while construction is the largest employer; the EDC noted distressed commercial properties on the Olive Corridor and discussed compliance tools.
At the July 8 meeting Council member Pashon Hellman reported on the Economic Development Commission meeting held June 30. Hellman said staff presented business-license statistics showing an 85% renewal rate at that time and that revenues from business-license fees amount to about $200,000 in general-fund revenue. "85% of businesses at that time had renewed their licenses, and the money collected from these licenses accounts for about 200,000 of our general fund revenue," Hellman said. The commission also shared industry observations: professional, scientific and technical businesses form the largest category by number, while construction firms are the largest employers. Hellman said the EDC discussed distressed commercial properties along the Olive Corridor and the challenge of getting owners to bring buildings into compliance with city standards. The commission recommended exploring additional tools or fee structures to encourage property owners to invest in building improvements. Hellman said staff reported the city might evaluate its business-license fee structure to determine whether it still meets policy goals. The council did not vote on changes; the report was presented as information for future council consideration.