A panel of developers have been invited to a workshop meeting Wednesday to help the city answer 10 questions about how to make more money in the future.
The meeting will take place at 6 p.m. Wednesday in the Community Room at City Hall.
The five panelists will include real estate, restaurant and business developers, including Keyser Marston Associates who have worked for the city in many of its redevelopment ventures.
During the age of redevelopment agencies (RDA), IB relied "almost exclusively" on RDA bonds and tax increments "to facilitate private development within the city," a staff report accompanying the meeting agenda said.
With the elimination of redevelopment agencies earlier this year, the city is now in search of new revenue sources.
The five experts in their fields will be asked 10 questions ranging from taxes to where money should be invested.
For a full profile of the five panelists, view the attached PDF document.
Workshop meetings are held once every few months for the Imperial Beach City Council and city staff to discuss and address important issues to the city's future. No actions may be taken on matters like at a city council meeting, but the meetings typically produce ordinances and law.
If local residents want to pose their own questions to City Council, city staff and panelists, the beginning of the meeting will be devoted to public comment.
The 10 questions that will be discussed:
1. Since sales taxes are relatively inconsequential to our city and we have limited commercial buying power, does it make better strategic sense to try to increase property values rather than TOT or sales tax? TOT stands for Transient Occupancy Tax and is paid by hotel and vacation home guests.
2. Do you, the experts, have tools you'd suggest to foster economic development and increase the tax base?
3. If we wish to raise property taxes, what can we do in a primarily residential community like ours?
4. What can we do to attract, grow and retain businesses?
5. What infrastructure improvements can and/or should we make to attract businesses and improve property values?
6. What would you, the experts, suggest we focus on to increase our tax base?
7. Should we review our development process to find ways to make it more customer friendly, faster and simpler?
8. What can we do to improve marketing and/or branding of Imperial Beach?
9. What other actions do you suggest to improve the tax base of our city?
10. What do you see other communities doing or preparing to do in the absence of redevelopment?
A special closed door meeting will be held prior to the workshop meeting for city staff and city council to discuss possible legal action against the city. Any actions taken will be announced if deemed appropriate.