HomeMy WebLinkAboutPackets - Council Packets (928) AGENDA
ORO VALLEY TOWN COUNCIL
STUDY/SPECIAL SESSION
FEBRUARY 13, 2007
ORO VALLEY DEVELOPMENT SERVICES BUILDING
HOPI CONFERENCE ROOM
11000 N. LA CANADA DRIVE
STUDY SESSION - AT OR AFTER 5:30 PM
CALL TO ORDER
ROLL CALL
1. DISCUSSION REGARDING THE ISSUANCE OF TOWN OF ORO
VALLEY EXCISE TAX REVENUE REFUNDING BONDS FOR SERIES
2007
2. DISCUSSION REGARDING THE UPDATED COMMUNITY ECONOMIC
DEVELOPMENT STRATEGY (CEDS)
ADJOURN STUDY SESSION
SPECIAL SESSION -AT OR AFTER 6:30 PM
CALL TO ORDER
ROLL CALL
EXECUTIVE SESSION AT OR AFTER 6:30 PM
Pursuant to ARS 38-431.03A(3) consultation for and discussion of legal advice,
and A(4), consultation, discussion and direction to legal counsel regarding
contract negotiations, Council may vote to go into Executive Session regarding
the Honeybee Village acquisition and Intergovernmental Agreement ("IGA")
negotiations with Pima County
RESUME SPECIAL SESSION
1. DISCUSSION AND POSSIBLE ACTION BY COUNCIL DIRECTING
STAFF AND/OR LEGAL COUNSEL CONCERNING HONEYBEE
VILLAGE ACQUISITION AND INTERGOVERNMENTAL AGREEMENT
("IGA")
ADJOURNMENT
POSTED: 02/07/07
3:30 p.m.
cp
The Town of Oro Valley complies with the Americans with Disabilities Act(ADA). If any person
with a disability needs any type of accommodation, please notify the Town Clerk's Office at
(520)229-4700.
TOWN OF ORO VALLEY
COUNCIL COMMUNICATION STUDY SESSION DATE: February 13, 2007
TO: HONORABLE MAYOR & COUNCIL
MUNICIPAL PROPERTY CORPORATION BOARD MEMBERS
FROM: Stacey Lemos, Finance Director
SUBJECT: Proposal to Issue Excise Tax Revenue Refunding Bonds, Series 2007
SUMMARY:
The purof this studysession is to brief the Town Council and the Municipal Property Corporation
Board members of a proposed issuance of Town of Oro Valley Excise Tax Refunding Bonds, Series
p p
2007 in an amount not to exceed $20,000,000.
As a result of historical low interest rates which currently prevail, the bond issuance as proposed is an
advanced refundingof some of the Town's existing outstanding bonds relating to the issuances from
1996 Company Acquisitions), 2000 (Naranja Land Acquisition) and 2001 (Water
(Waterp Y q
Improvements and Library). The average interest rate of these outstanding issuances is 5.3%
compared to an estimated average rate for the new issue of 4.4% which is subject to changed based
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on the Municipal and U.S. Government securities markets. Based on current assumptions, the
refunding would result in net cash flow savings to the Town of approximately $2.1 million which on a
netresent value basis would result in debt service savings of approximately $930,000 or
p ° approximately
approximately 4.90/° of the principal amount of bonds being refunded. Of this amount,
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85g
of the debt service savings would be realized by the Water Utility Fund and 15 % by the General
Fund.
Typically, when the present value savings as a percent of the bonds to be refunded equals two
percent or more, cities and towns will effectuate a refunding transaction based on this minimum
threshold/metricp aramater . As indicated above, the current analysis indicates a spread on this
proposed issue of 4.90% resulting in an efficient refunding opportunity for the Town, again depending
upon market conditons at the time of sale Therefore, staff is recommending the refunding because
4.4% on the outstanding
market conditions of approximately are lower than the current rates
bonds, and the minimum 2% savings threshold requirement is currently expected to be met.
It isro osed that the debt service schedule on the new bonds be structured to capture significant
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debt service savings in the Water Utility Fund in the early years, so that those funds may be used to
help offset some of the future costs of financing the delivery of CAP water to the Town of Oro Valley.
Mr. Keith Hoskins, representing the firm of Gust Rosenfeld, will be present this evening to explain the
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legal aspects of the proposed transaction. Also, Mr. Mark Reader and Mr. Josh Ormiston,
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representing the underwritingfirm of Stone & Youngberg, will be present to explain the financial
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aspects of the proposed refunding.
G:ISTACEY1Council CommuniclBondRefundingStudySess2-13-07 revised(2).doc
TOWN OF ORO VALLEY
COUNCIL COMMUNICATION Page 2 of 2
ATTACHMENTS:
1. Summary of Outstanding Town of Oro Valley Excise Tax Revenue Debt
2. Sources and Uses Schedule
3. 2007 Refunding Analysis: Up-Front Savings
4. Allocation of Savings Analysis: Water Fund
5. Allocation of Savings Analysis: General Fund
6. Bond Refunding Calendar
ty/ AA,Y /-----g4 10 3Stacey Le s
Finance Director
bettA,a- --)--ti-vA.,,i,
David L. Andrews
Town Manager
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SOURCES AND USES OF FUNDS
Town of Oro Valley,Arizona
Excise Tax Revenue Refunding Bonds,Series 2007
*****************************************************************
February 1,2007 Analysis:Up-Front Savings
Estimated Current Market Interest Rates
(Includes Series 1996 Non Callable)
*****************************************************************
Dated Date 04/19/2007
Delivery Date 04/19/2007
Sources:
Bond Proceeds:
Par Amount 17,300,000.00
Net Premium 932,834.55
18,232,834.55
Other Sources of Funds:
Release of 1996 Reserve Fund into Escrow 1,970,000.00
20,202,834.55
Uses:
Refunding Escrow Deposits:
Cash Deposit 10.44
SLG Purchases 19,783,492.00
19,783,502.44
Delivery Date Expenses:
Cost of Issuance 100,000.00
Underwriter's Discount 173,000.00
Bond Insurance(Est @ 30 bps) 86,778.09
Surety Bond(3%) 54,698.50
414,476.59
Other Uses of Funds:
Additional Proceeds 4,855.52
20,202,834.55
Feb 5,2007 8:23 am Prepared by Stone&Youngberg LLC (Finance 6.000 oro valley_town of:EXTX_REF-REF07_1,REF07_1) Page 1
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TOWN OF ORO VALLEY, ARIZONA
MUNICIPAL PROPERTY CORPORATION
EXCISE TAX REVENUE REFUNDING BONDS, SERIES 2007
PRELIMINARY FINANCING CALENDAR
February 2007 March 2007 April 2007
S M T W - F fi S M T W TH F S S M 1' W TH F S
q ,;Yqx 1 2 i 3s}s<q:, }:. 1 2 3 .1 2 }..,3 4 6 7
4 5 b 7 8 9 10 4 5 fS,:s�{Je 1} 7 8 9 10 8 9 10 11 €s12 13 14
q
12
13 14 15 16 17;;:; 11 12 11440 14 15 16 17 15 16 17 18 9> 20 21
24 25 27
24 23 ', 28
18 19 20 21 22 23 >, # 18 19 q; 6 21 22 23 22t
25 26 27 28 611 25 26 klaii 28 29 30 31 29 30
- 1111 SKI
Date Event Responsible Party
Week of February 5th Requested information delivered to S&Y for preparation of Town
Preliminary Official Statement ("POS") and bond
rating/insurance packages.
Week of February Distribute draft Preliminary Official Statement ("POS") to S&Y
19th Team for review and comment.
Week of February Due Diligence conference call to discuss disclosure items. S&Y
_ 26th
March 2nd Information due to the Town for council packets in Town, S&Y, GR,
anticipation of the March 21st council meeting. GT
Week of March 5th Distribute the second draft POS to Team, Bond Rating and S&Y
Insurance companies for review and comments.
Week of March 19th Receive credit rating(s)and insurance quotes. Town, S&Y
March 21st Town Council and MPC Board of Directors adopt resolution Town, S&Y, GR,
authorizing the issuance of the Bonds and granting authority GT
to the Manager or Finance Director to approve the final terms
and conditions of the issue.
March 22nd Distribute and place on-line the POS to prospective investors. S&Y
Initiate pre-pricing activities.
Week of March 26th Set-up "Real Time Order Monitor" for Town and investors. S&Y, City, GR, GT
Market the bonds and execute Bond Purchase Agreements.
Week of April 2nd + Distribute draft closing documents and Final Official GR
Statement to Financing Team.
Week of April 16th Close the issue. Proceeds deposited with Escrow Trustee. All Parties
Financing Team:
Town - Town of Oro Valley,Arizona
MPC - Municipal Property Corporation Board—Issuer
GR - Gust Rosenfeld P.L.C.—Bond Counsel
S&Y - Stone&Youngberg LLC—Underwriter
GT - Greenberg Traurig L.L.P.—Underwriter's Counsel
Trustee,Registrar/Paying Agent - TBD
Prepared by: Stone&Youngberg—February 6,2007
TOWN OF ORO VALLEY
COUNCIL COMMUNICATION
MEETING DATE: February 13, 2007
TO:
HONORABLE MAYOR &TOWN COUNCIL
FROM:
David Welsh, Economic Development Administrator
p
SUBJ.
Updated Community Economic Development Strategy
SUMMARY:
Study Session, the Mayor and Council directed the Economic
At the October 25, 2006 S yY
Development Division to revise the existing Community Economic Development
p
Strategy (CEDS),
September 1997. At the February 13, 2007 Study Session the
Economic Development Division will present the Updated CEDS.
ATTACHMENTS: Updated CEDS
4.
David Welsh, Economic Development Administrator
a 04
David Andrews, Town Manager
Town of Oro Valley
Community Economic
Development Strategy
March 2007
Town of Oro Valley Town Council
Paul H. Loomis
Mayor
Helen Dankwerth
Vice-Mayor
Paula Abbott
Council Member
Kenneth "KC" Carter
Council Member
Barry Gillaspie
Council Member
Al Kunisch
Council Member
Terry Parish
Council Member
Acknowledgements
David Andrews
Town Manager
David Welsh
Economic Development Administrator
Amanda Jacobs
Economic Development Specialist
Table of Contents
Economic Development Mission Statement 1
Background 1
CEDS 2007 2
Purpose of CEDS 2
Action Steps 3
Appendix
Economic Development Partners —Programs and Assistance 7
Economic Development Contacts 15
Economic Development Mission Statement
To increase the quality of life for Oro Valley citizens and the business community by
developing a positive business climate consistent with the community's values to ensure
the long-term financial and economic sustainability of the Town of Oro Valley.
Background
Economic Development of Oro Valley
An economic and physical transformation of Oro Valley has been occurring as a result of
changes to the physical, political and socio-economic make-up of the community. That
transformation affects the direction of growth and development in the community. Those
external and internal forces influencing Oro Valley, as well as the region and State of
Arizona, generate impacts on our economy that are difficult to predict.
The Town economy has evolved as a result of the work of early pioneers who conquered
the desert after harnessing water and energy resources. Later, with the advent of World
War II, a diversified industrialization process began to take place. This along with large
population in-migration, created by workers coming to take jobs in new area industries,
has transformed Oro Valley into one of the fastest growing towns in the State of Arizona.
Until recently, economic growth and development in the region evolved without the
guidance of comprehensive planning, fueled primarily by speculative forces and
population in-migration. Planning the future economic and physical growth of the Town,
which is closely tied to the City of Tucson and the region, poses many challenges. To be
beneficial, economic development must not only help create wealth, it must also generate
community benefits and be consistent with the unique character of the Town.
A Community Economic Development Strategy (CEDS) for Oro Valley
Over the past several years, there has been a concerted effort on the part of the Town and
private individuals to develop an organized plan of action for Economic Development or
a Community Economic Development Strategy (CEDS). Oro Valley leaders realize that
it is important to invest in Economic Development to ensure the sustainability of the
community. The Town's limited commercial and industrial lands are rapidly being
developed. Also, the demand for municipal services continues to increase. It is
important for Oro Valley to maintain an environment that encourages compatible
commercial development that will ensure sustainability.
In November 2005,the Town adopted the Focus 2020: Town of Oro Valley General Plan,
which included an Economic Development element. A key policy (3.1.1) in the
Economic Development Element of the General Plan states:
"The Town shall ensure that future growth reflects the desires of the community in
balance with an analysis of the Town's financial needs, maintain and periodically
1
update the Town's Community Economic Development Strategy to ensure that
futurep development will complement community values and implement the
community's economic vision for the future, while maintaining the ability of Oro
Valley to attract and retain desirable businesses.
development and use of a CEDS was deemed to be an important step in providing for
The p
implementation of the General Plan Goals and Policies. Without a strategic plan for
action, the implementation of the General Plan Goals and Policies would likely be
uncoordinatedpoorlytimed and inefficient. Adoption of a CEDS economic
sporadic,
development contributes to the Town making the best use of limited resources.
community.
CEDS 2007
Purpose of CEDS
The purpose of CEDS is to:
• Implement the Goals and Policies of the Economic Development Element of the
Town's General Plan.
• Make the best use of limited resources in providing a focused Economic
Development program for the community.
• Coordinate all commercial development-related programs and strategies in a
formal way.
• Provide guidelines in decision-making to the Town's political and
administrative leadership to achieve Economic Development consistent with the
Town's character and vision.
• Contribute to the Town's Strategic Plan as it relates to Economic Development.
CEDS and the General Plan 2020
Important goals and policies called for in the Economic Development Element of the
p
General Plan include:
• g
Encourag in and supporting the following types of enterprises as a means of
diversifying the local tax base, increasing local employment opportunities,
and decreasing sales tax leakage to nearby communities:
o Technology related employers (e.g., biotech, optics)
o Hospital and health services
o High-end commercial/retail establishments
2
o Tourism/Resort/Convention offerings related to the area's natural
amenities and cultural history, including Catalina State Park, Coronado
National Forest, and Steam Pump Ranch.
o Businesses that provide services to and support the retirement
community, such as medical supplies or geriatric specialists.
• Make strategic public investments, such as capital improvements, that support
appropriate, desirable Economic Development.
• Continue efforts to attract new high-end retail and service businesses,
especially those in under-represented categories, in order to help reduce sales
tax leakage.
• Support the development of high quality employment-related uses that are
compatible and consistent with the scale, character, and workforce of the
community. Campus-type employment centers that emphasize a unified
architectural theme, pedestrian orientation, and a natural landscaping theme
are encouraged.
• Recruit commercial businesses and other employment related uses that do not
negatively impact the neighboring residential areas.
Action Steps
1) Business Retention and Expansion
The Economic Development Division (EDD) will work to retain and expand the
existing businesses in Oro Valley. The EDD will take the following steps to
achieve this goal:
• Establish and maintain regular contact with existing businesses to foster
better responsiveness to their needs and concerns.
• Oversee relationships with regional partners, providing retention
resources, such as the Northern Pima County Chamber of Commerce
(NPCCC), the Metropolitan Tucson Convention and Visitors Bureau
(MTCVB) and the Tucson Regional Economic Opportunities, Inc.
(TREO).
2) Business Recruitment
The EDD will pursue recruitment of targeted businesses to Oro Valley, by taking
the following steps:
• Focusing on businesses that support the existing employment centers of
the Town, including bio-tech, high-tech, resort and retail.
3
• Working with TREO and the Arizona Department of Commerce (ADOC)
on externally generated leads.
• Working with TREO and ADOC to support internally developed leads.
• Act as a resource for retail/commercial developers establishing new
businesses in the Town.
• Monitor annexation efforts and discussions to encourage compatibility
with CEDS.
• Maintain a high level of visibility and accessibility to the inquiring
business community.
• Targeting businesses that generate job growth and high paying jobs.
3) Develop and adopt an Economic Development Incentive Policy
Local governments in the Tucson regional area, individually or in association,
promote local and regional economic development. The state grants municipal
governments, such as Oro Valley,the power to engage in economic development.
These powers allow the Town to provide the leadership, energy and perspective to
bring together the different segments of the community. The Town may use some
form of incentives to attract or retain desirable businesses. Guidelines and review
criteria will be established by the Town Council and supported by the EDD to
assist the Town in deciding when to grant such incentives. Guidelines for the
Town's use of assistance for business location and expansion will be outlined in
the Town of Oro Valley Economic Development Incentive Policy.
4) Coordinate Project Management
The EDD will provide assistance to businesses involved with commercial
development in the Town. The Division will act as a liaison to Town staff for
commercial projects and existing businesses. The EDD will be responsible for
coordinating large project teams. It will continue to maintain positive working
relationships with Town departments and divisions involved with commercial
development, through regular interaction and open communication. The EDD
will also develop and maintain positive working relationships with area
developers, architects and contractors. The EDD will monitor activities related to
annexations, economic vitality planning and related impact analyses.
• Economic Development Commercial Project Status Report
o The EDD will provide the Town Manager and the Town Council
with a list of active commercial projects the first Thursday of each
month.
• EDD Staff will complete Permits Plus training
4
5) Oro Valley Business Navigator
The EDD will develop and launch the Oro Valley Business Navigator
(Navigator). Navigator is a web based business locator to be housed on the
Town's web site.
• The EDD will update the Oro Valley Business Navigator the first week of
each month per the New Business Report produced by the Town's Clerk
Office. The Information Technology Department will update location
maps as needed. If a business closes or changes ownership, the Town
Clerk's Office will notify the EDD, so they can make the appropriate
deletions/changes.
6) Economic Development Public Relations
The EDD will act as a liaison between the Town and the business public. The
EDD will provide timely responses to inquiries from all business related
constituents. The EDD will promote regional cooperation and interact with
regional, statewide, national and international Economic Development
organizations.
7) Monthly Economic Development Status Reports to Town Council
The EDD will prepare and submit a monthly Economic Development Status
Report for the Mayor and Council.
8) Maintain Economic Development Web Page
The EDD will update the following web pages as needed:
• Business and Tourism Resources
• Community Profile
• Demographics
• Status Report
9) Community Economic Development Strategy
The EDD will review the CEDS annually with the Town Manager, with updates
every two to three years. Appropriate modifications will be brought forward to
the Town Council for adoption. An annual status report will be prepared and
presented to the Council to review progress on completion of the action steps
identified in the Strategic Plan.
5
APPENDIX
6
Economic Development Partners—Programs and Assistance
Success in Economic Development is best achieved through regional cooperation and
partnership with a number of local, regional and State agencies and groups. The
following is a list of the most important of these organizations and what they provide in
the way of programs and assistance for Economic Development in Oro Valley.
Federal
Over the years, the Federal Government has introduced a vast array of programs that
local jurisdictions can use to improve their economies and neighborhoods. These
programs range from specific development projects for rural and urban development to
job training. While the breath and funding of federal programs is always subject to
changes in national policy and emphasis in Washington, D.C., local communities can
make themselves aware of opportunities and where possible, participate in those
programs. The following is a list of federal programs and agencies that offer the most
potential to promote development in concert with attributes of the Planning Area.
• Small Business Administration Loans
These loans are offered through the State of Arizona.
• The Rural Economic and Community Development Service, and the
Consolidated Farm Services Agency, formerly the Farmers Home
Administration (FmHA) provides a vast array of programs including
guaranteed loans and grants to rural areas for water/wastewater facilities,
community facilities (e.g. fire and rescue or health facilities, schools),
businesses and industrial loans.
• Economic Development Administration (EDA) Public Works Grants
The EDA programs are directed to the funding of public works and
development facilities that contribute to the creation or retention of private
sector jobs and to the alleviation of unemployment and underemployment.
For example, EDA funds could facilitate the construction of an industrial park
in Oro Valley.
• Community Development Block Grants (CDBG)
Oro Valley is not an entitlement jurisdiction and relies on Pima County for
CDBG funding (see Pima County.
7
Arizona Department of Commerce (ADOC)
Economic Development was an elusive function in Arizona until recently. At the
initiative of a variety of individuals and organizations, the State Legislature enacted
the Omnibus Economic Development Act in 1989, directing the Department of
Commerce to assess Arizona's business climate and draft the first statewide strategic
economic development plan.
• The Commerce and Economic Development Fund
The Arizona Legislature established the Commerce and Economic
Development Commission (CEDC) to help expand economic opportunities in
the state. A CEDC fund capitalized yearly with a percentage of lottery
proceeds was established by the Legislature to help retain, expand, and
relocate businesses to Arizona. The CEDC funds are administered by ADOC.
Direct loans, loan guarantees and interest rate subsidies are directed by the
CEDC to businesses. Priority consideration is given to businesses seeking to
relocate and expand to rural and economically disadvantaged areas and to
minority and women owned business. The allocations are made on a first-
come first-served basis.
• Work Force Policy and Arizona Job Training Program
The Workforce Policy develops policies and supports the implementation of a
system to effectively and efficiently prepare Arizona workers for an ever-
changing economy.
The Arizona Job Training Program supports the design and delivery of
training plans that meet unique industry standards and challenges.
• The Arizona Workforce Connection
Arizona Workforce Connection is a statewide system of workforce
development partners —providing free services to employers who seek access
to skilled new hires or existing worker training resources.
Arizona employers profit from services tailored for unique business needs.
Through a network of One Stop Centers and online services, Arizona
Workforce Connection provides:
• Seamless Access to Workforce Resources
• Employee Recruitment
• Labor Market Information
• Job Training and Hiring Tax Credits
• Customized Training and Skills Upgrading
• Solutions to Common Employee Barriers
8
• Pre-Layoff Assistance
• Private Activity Bonds
Private Activity Bonds can be issued for industrial, manufacturing facilities,
and equipment. The Town of Oro Valley or the Pima County Industrial
Development Authorities can issue these bonds.
• Revolving Energy Loans
Under this program, qualified Arizona companies can receive financial
assistance for long-term, fixed-asset plant expansions for the manufacture of
energy-conserving products and energy-conserving building retrofits,
including the acquisition of qualified energy-conserving improvements and
equipment.
• Environmental Technology Tax Incentive Program
The State of Arizona offers tax credit and exemptions to companies that invest
in $20 million over five years in manufacturing technology that produces
goods from recycled materials and renewable energy.
• Defense Restructuring Assistance Program
Under this program, defense contractors can receive individual and corporate
tax credits for conversion of defense activities to commercial activities.
• Economic Strength Fund
This program approved by the Arizona State Legislature provides private non-
profit and/or local government financing for highway or road projects which
retain or significantly increase jobs in Arizona, or which lead to significant
capital investment, or which make a significant contribution to the economy
of the State.
• Arizona Enterprise Development Corporation (AFDC) Loan Programs
AEDC offers several types of Small Business Administration (SBA)
Guaranteed Loans to small businesses including: SBA 504 and SBA 502 fixed
asset subordinated loans, SBA 7A working capital and debt refinance, and
bridge loans for land, building acquisition, inventory or equipment.
9
• Rural Economic Development Initiative (REDI) Program
This program, a part of ADOC Community Assistance Services, offers
specialized services and funding assistance in the form of matching grants to
rural communities. The communities use the assistance to maintain viable
Economic Development programs and to make themselves more attractive for
capital investment, industrial expansions and business locations.
• Community Facilities Districts
Arizona's Community Facilities District Act, allows a landowner or a group
of landowners to request by petition that a municipality establish a community
facilities district within the city limits to finance and construct public
infrastructure and facilities. The district provides developers and cities with a
new and flexible mechanism to deal with the rising costs of new community
facilities. Several financial options are available to construct and maintain
infrastructure, including: General Obligation Bonds, Revenue Bonds, Special
Assessments and Assessment Bonds, Uses Fees and Charges, Municipal and
Private Contributions. The type of project that could be funded include: water
and sewerage storage, flood control and drainage, lighting and traffic control,
streets and parking, police and fire facilities, public buildings, school sites and
facilities, parks and recreation among others.
• Other Programs:
Other Arizona programs that may offer potential for Economic Development
are those offered through the Department of Environmental Quality (DEQ)
Revolving Loan Funds, the Arizona Department of Tourism and the Arizona
Film Commissions.
Pima County
• CDBG Funds
Entitlement funds received through the U.S. Department of Housing and
Urban Development are utilized to support community and Economic
Development activities in the Town of Oro Valley. These funds are received
through the Pima County Entitlement Program and may be used by the Town
for Economic Development projects, public works, community facilities,
public services and planning.
• Pima County Industrial Development Authority
The IDA was established by Pima County to facilitate financing through the
issuance of tax exempt private activity (industrial revenue) bonds for
manufacturing, infrastructure and medical developments. These bonds are
10
generally limited to land, building and equipment for manufacturing purposes
and they are capped at $10 million. The proceeds from the sales of bonds are
made available to finance projects through loans, leases or installment sales
agreements with private credit-worthy companies.
Payments are uses to pay the principal interest on the bonds as they become
due. Interest rates are normally three to four percent lower than those charged
through conventional borrowing.
Tucson Regional Economic Opportunities,Inc. (TREO)
TREO was formed to serve as the lead economic development agency for the greater
Tucson area and its surrounding community partners. TREO offers an integrated
approach of programs and services to support the creation of new businesses, the
expansion of existing businesses within the region, and the attraction of companies that
offer high impact jobs and share the community's values.
TREO's mission is to accelerate economic prosperity throughout the Southern Arizona
region by providing insight, resources, and infrastructure and development efforts.
To be successful, TREO has established the following values: nurture competitive
economic growth, build strategic partnerships, promote regionalism, assist local business,
be an economic "one stop," and maintain a customer focus.
TREO's staff meets with businesses offsite to listen to their specific problems and
provide a list of available resources in the community or TREO programs that are
available for further assistance. TREO offers business development resources for local
companies, such as the Empowerment Zone, Enterprise Zone Program, Arizona Job
Training Grants and Foreign Trade Zone No. 174.
[Insert result of TREO Economic Blueprint effort].
Metropolitan Tucson Convention and Visitor's Bureau (MTCVB)
The MTCVB is a resource for people who are new to Tucson or who are just visiting the
area. MTCVB provides information about the Tucson region, local events and attractions
and places to stay.
This organization receives funding from public agencies such as the Town of Oro Valley
and from a number of Tucson area corporate sponsors (especially those in the hospitality
industry). The activities results in bookings of hotel rooms and conventions with the
impact of several million dollars each year to the local economy.
11
Northern Pima County Chamber of Commerce (NPCCC)
The NPCCC was organized in 1992 to support the growth and the business interests of
the community. The Chamber's mission is to `promote a business environment within
the Northern Pima County communities that enhances economic vitality and improves the
quality oflife f or all. " The Chamber is a resource to the Northwest communities,
includingCasas Adobes, Catalina, Catalina Foothills, Marana, Oro Valley, Tortolita and
Northwest Tucson. The Chamber has over 500 members and provides a local network
for the exchange of ideas between the business community and the Town. The Town has
worked jointly with the Chamber on a variety of economic development issues and
projects.
Tucson Electric Power Company (TEP)
TEP works with the Town and other economic groups to provide assistance to companies
in the area of business attraction, expansion and retention. The Economic Development
Section of TEP provides various forms of assistance including power information,
sharing of lead information and in certain cases rate reductions for firms considering
expansion or location in the Pima County area.
Private Sector
One of the most critical pieces in the puzzle, fundamental to the building of foundations
for Economic Development is the private sector. The private sector consists of local
lenders, developers, investors, builders and contractors, professionals, chambers of
commerce, professional and business associations and the utilities.
Non-profit Sector
Another key sector in Economic Development is the non-profit sector. The non-profit
sector includes colleges and local universities, community based organizations,
Economic Development corporations, neighborhood groups and private foundations.
This sector is an important source of both training and funding for Economic
Development programs and projects.
• Arizona Association for Economic Development (AAED)
In 1974, the Arizona Association for Industrial Development (AAID) was
formed by several economic development professionals and business leaders
who were dedicated to expanding industrial and economic base of Arizona. In
1991, the members voted to change the organization's name to Arizona
Association of Economic Development. AAED consists of over 500 members
across the State of Arizona. The members represent economic development
organizations, chambers of commerce, municipalities, developers, contractors,
real estate firms, architects — the list goes on. AAED provides members the
12
opportunity to share knowledge and exchange information during monthly
committee meetings, bi-monthly luncheons and semi-annual conferences.
• Arizona Biolndustry Association (ABA)
ABA is recognized statewide as an organization for promoting growth of the
bioindustry through partnering and collaborative relationships among
education, business, private and public sectors. The organization serves as
the networking, advocacy, education, and communications group for
Arizona's bioindustry.
• Biolndustry Organization of Southern Arizona (BIO-SA)
BIO-SA is a non-profit trade group who supports the creation, operation and
expansion of biotech enterprises and the commercialization of university
research institute-based technologies in Southern Arizona. BIO-SA works
with TREO, the Southern Arizona Technology Council, Pima Community
College and the University of Arizona to increase the productivity in the
expanding bioindustry.
• Critical Path Institute (C-PATH)
C-Path was founded by The United States Food and Drug Administration
(FDA), the University of Arizona (UA) and SRI International (SRI). The
institute fosters research and educational programs intended to enable the
pharmaceutical industry to safely accelerate the development of new
medications.
• University of Arizona Office of Economic Development (OED)
The OED focuses its efforts on two important areas: strategic planning and
policy development. OED promotes local, state and regional economic
development. The office supports the development of technology,
commercialization and the creation of international economic partnerships.
OED's current initiatives include developing Arizona's biosciences industry,
enhancing border security, tracking residential and commercial real estate in
the Greater Tucson area and advancing international trade and business
development in Latin America, Canada, Europe and Israel. OED also
encourages sustainable land use.
• University of Arizona Bioscience Park
The Arizona Bioscience Park is designed to provide a separate facility for
organizations working in biotechnology, biosciences, life sciences and
pharmaceuticals. The facility will be integrated into a multi-use development,
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which will include a conference center, a hotel, and retail and residential
development.
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Economic Development Contacts
David Andrews, Town Manager (520) 229-4725
David Welsh, Economic Development Administrator (520) 229-4731
Amanda Jacobs, Economic Development Specialist (520) 229-4735
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EXECUTIVE SESSION MATERIALS WILL BE DELIVERED
FRIDAY AFTERNOON, 02109/07