The big picture
At a Sept. 15 meeting, Missouri City City Council approved the first reading of an ordinance to update its economic development incentive programs by establishing criteria and a review process.
The changes, which were first presented at a June 16 special City Council meeting, aim to streamline the application process and remove the location restrictions with the goal of bringing investment into key city corridors, City Attorney E. Joyce Iyamu said.
The details
The proposed updates would separate the funds into two programs, with one for new developments and another for redevelopment within the city, Iyamu said.
To qualify, businesses must be for-profit, located on taxable property in city limits, follow city design standards, and not have any open code violations or delinquent taxes, Iyamu said. Additionally, the sites or owner must not have had city incentives within the past three years.
What else?
The updated programs would also add a matrix for scoring potential programs, Iyamu said. Participants must score at least 60 points for further consideration by the city’s economic development committee and City Council.
Looking ahead
The second reading of the ordinance will be heard at the Oct. 6 meeting. If approved, city staff will implement outreach Oct. 13, followed by the opening of applications Nov. 1, Iyamu said.
