TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Planning and Community Development
Carol Helland
425-556-2107
DEPARTMENT STAFF:
Planning and Community Development
Seraphie Allen
Deputy Director
Planning and Community Development
Jeff Churchill
Long Range Planning Manager
Planning and Community Development
Lauren Alpert
Senior Planner
TITLE:
title
Approval of a Contract with EcoNorthwest, in the Amount of $86,640, for an Economic Study of Incentive Packages for Redmond Centers
OVERVIEW STATEMENT:
recommendation
Staff recommends that the City Council authorize the Mayor to sign a contract with EcoNorthwest to complete an economic study of new zoning incentive programs for Overlake, Marymoor Village, and Downtown (see Attachment A). The City of Redmond is overhauling existing development incentive packages for its Centers to accommodate expected growth over the next 20 years and advance City priorities.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
Redmond 2050 - Growth Centers Policy Guide v 2.0
* Required:
Council approval is required for contracts exceeding $50,000.
* Council Request:
The Council approved a Service Enhancement in the 2023-24 Budget for an economic analysis of incentive packages as part of Redmond 2050.
* Other Key Facts:
N/A
OUTCOMES:
The City needs to design incentive packages that can both encourage the level of development necessary to meet growth targets, while helping the City achieve its goals related to affordability, livability, sustainability, and equity. This project will help City staff and community stakeholders understand the draft incentive packages' effectiveness and to ensure that incentives are calibrated to meet growth and policy objectives.
This study will answer the following questions:
* Are the draft incentive ...
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