FROM:
City Clerk
SUBJECT:
Title
Adoption of Ordinance No. 1941, Pertaining to a Development Agreement with Fontana Responsible and Compliance Retail, LLC (Second Reading)
End
RECOMMENDATION:
Recommendation
Second Reading / Adoption of Ordinance No. 1941, approving a Development Agreement with Fontana Responsible and Compliant Retail, LLC, concerning a retail cannabis business and Direct Staff to File a Notice of Exemption.
End
COUNCIL GOALS:
• Promote economic development by concentrating on job creation.
• Promote economic development by pursuing business attraction, retention, and expansion.
• Promote economic development by being business friendly at all levels and striving to constantly improve the city's competitiveness.
DISCUSSION:
Ordinance No. 1941 was introduced by a vote of 4-1 at the January 23, 2024, Regular City Council meeting.
FISCAL IMPACT:
New revenue, in the form of special fees paid to the city, resulting from execution of this Development Agreement is currently projected to exceed $700,000 annually.
MOTION:
Approve staff recommendation.