The Economic Development Policy Committee has defined economic development projects as those where there is private sector participation that results in tangible economic development benefits beyond just the construction of County facilities. Private sector participation will be defined as any material use of a County-owned, or County-funded, facility by a non-profit or private entity following completion and delivery of the project. Such use of the facility must result in direct economic development benefits for the community, including job creation for non-County employees, commercial development, retail investment, blight removal, affordable housing, or any other activity that improves the economic well-being of local residents.
The following projects and their impact on the community will be monitored for inclusion in future versions of the Scorecard. The Scorecard will seek to capture statistics such as the percentage of Local and Targeted Workers hired on the project, small business, disabled veteran business and social enterprise utilization, number of jobs created, increase in the tax base and percentage of affordable housing incorporated into the project, among other community benefits. While the majority of the County’s economic development projects are managed by a private developer, oversight is nonetheless provided by either the County CEO or the CDC.
LOS ANGELES COUNTY PROJECTS
HONOR RANCH DEVELOPMENT
The County of Los Angeles Chief Executive Office is releasing this Request for Information (RFI) to evaluate potential development alternatives for Honor Ranch, a 206-acre County-owned parcel in the Santa Clarita valley. The information obtained from the RFI will assist the County in determining the development opportunities that will: maximize revenues to the County; provide a project consistent with Board priorities such as environmental sustainability; and include significant community benefits.
Responses to the RFI are due on January 17, 2019