City Council

a. OPPORTUNITY STUDY AREAS ECONOMIC STUDY FINDINGS\nSummary:\nEarlier this year, the City Council authorized staff to issue a Request for\nProposals to select a qualified professional planning firm to undertake a\ncomprehensive economic and land use study for three areas of the community,\nknown as Opportunity Study Areas. Broadly defined, the purpose of the study is\nto assess future land use opportunities that will allow the City to grow\neconomically, create jobs, and diversify the City’s tax basis for several years.\nAfter a comprehensive and competitive process, the City Council awarded a\ncontract to PlaceWorks, to prepare an economic and land use analysis\nassociated with the Opportunity Study Area Project.\nPlaceWorks will present an update on its progress to the City Council, providing\nkey insights into the economic analysis and preliminary findings. This\npresentation will offer an opportunity for the City Council and the community to\nlearn more about potential land use strategies that support economic growth and\nlong-term sustainability in Signal Hill. Using the economic study as a basis, staff\nis requesting additional policy direction from the City Council regarding the next\nphases in the project which would include developing overlay zones, creating\nnew development standards, exploring opportunities for infrastructure\nimprovements, and initiating a selection process to undertake the required\nenvironmental studies to facilitate future development.\nStrategic Plan Goal(s):\nGoal No. 1 Financial Stability: Ensure the City’s long-term financial stability\nand resilience.\nGoal No. 3 Economic & Downtown Development: Improve the local economy,\nsupport local businesses, and create a vibrant downtown core.\nGoal No. 4 Infrastructure: Maintain and Improve the City’s physical\ninfrastructure, waste system, and recreational spaces.\nRecommendations:\n1. Receive a presentation from Placeworks summarizing the key findings of the\nEconomic Study for the Opportunity Study Areas project.\n2. Provide general direction to staff to advance the development of Overlay\nZones, including updates to development standards within the Opportunity\nStudy Areas.\n3. Provide direction to staff regarding the solicitation of development proposals\nfor a City-owned property located at the intersection of Spring Street and\nAtlantic Avenue.\n4. Provide direction to staff regarding initiating a feasibility study to explore the\npotential implementation of financing tools to fund infrastructure\nimprovements with the Opportunity Study Areas.\n5. Authorize staff to issue a Request for Proposals for environmental studies\nrelated to the Opportunity Study Areas.