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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />FEBRUARY 1, 2010 <br />TITLE: <br />SANTA ANA ENTERPRISE ZONE <br />EXPANSION APPLICATION <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 15` Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution authorizing the submission of an application to the <br />California Department of Housing and Community Development for the <br />expansion of the Santa Ana Enterprise Zone. <br />DISCUSSION <br />On September 2, 2009, the City of Santa Ana received a Final Designation <br />from the California Department of Housing and Community Development for a <br />new 15 -year Enterprise Zone, which was retroactively effective to June 8, <br />2008. <br />The Enterprise Zone program was established by the State of California <br />Legislature for the purpose of stimulating the economy in areas deemed by <br />the State to be economically challenged. The program offers State Tax <br />Incentives to businesses in the zone which, in turn, helps the City <br />retain and attract companies within the zone. <br />The program regulations allow for Enterprise Zones to expand their zone <br />by up to fifteen percent of the originally approved area. The fifteen <br />percent expansion areas do not have to meet the strict requirements of <br />the original Enterprise Zone areas. Through the expansion process, more <br />businesses will become eligible to reduce their costs by taking advantage <br />of the various Enterprise Zone State Tax incentives. A map depicting the <br />current and proposed zone boundaries is attached as Exhibit 1. <br />55A -1 <br />