REPORT TO COUNCIL
SUBJECT
Title
Introduce an Ordinance Declaring the Need for the Sunnyvale Industrial Development Authority, Declaring that the Sunnyvale Industrial Development Authority Shall Function, and Finding that the Action is Exempt from the California Environmental Quality Act
Report
BACKGROUND
The California Industrial Development Financing Act (commencing with Section 91500 of the California Government Code) ("Act") authorizes the City of Sunnyvale ("City") to activate an industrial development authority by ordinance if it finds that there is a need within the City for such an authority.
Staff recommends that the City Council make the required financings and introduce an ordinance to activate the Sunnyvale Industrial Development Authority ("Industrial Development Authority"). Among other benefits to the City, the Industrial Development Authority would be available to act as a second member of the Sunnyvale Financing Authority ("Financing Authority") in anticipation of the Successor Agency to the Redevelopment Agency of the City of Sunnyvale ("Successor Agency") which is expected to dissolve in 2026 after it has satisfied all of its enforceable obligations.
The Council will consider the ordinance for adoption at the second reading on September 9, 2025.
ENVIRONMENTAL REVIEW
The action being considered is exempt from review under the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines Section 15378(b)(4) because it involves the creation of a government funding mechanism that does not involve any commitment to any specific project that may result in a potentially significant physical impact on the environment.
DISCUSSION
The City wishes to ensure that it has access to the full range of public financing options when needed. Establishing the Industrial Development Authority would provide the City with the services of an authority that can promote and enhance economic development, increasing opportunities for employment in acco...
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