FROM:
Planning
SUBJECT:
Title
Adoption of Ordinance No. 1960 (Second Reading), Approving a Development Agreement with Catalyst- Fontana, LLC, concerning a retail cannabis business and direct staff to file a Notice of Exemption.
End
RECOMMENDATION:
Recommendation
Second Reading/Adopt Ordinance No. 1960, Approving a Development Agreement with Catalyst- Fontana, LLC, concerning a retail cannabis business and direct staff to file a Notice of Exemption.
End
COUCIL GOALS:
• To promote economic development by concentrating on job creation.
• To promote economic development by pursuing business retention, expansion, and attraction.
• To promote economic development by striving to constantly improve the city's competitiveness.
DISCUSSION:
Ordinance No. 1960 was introduced by a vote of 5-0 at the December 10, 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 $500,000 annually.
MOTION:
Approve staff recommendation.