Goals & Policies
Maintain an economic base to provide a sound fiscal foundation for the city, as well as quality community facilities and high service levels.
- Policy 1.1
Encourage a pattern of development that balances revenue generating land uses in phase with other uses that demand services.
- Policy 1.2
Encourage the growth or relocation of industries that generate local tax and employment advantages.
- Policy 1.3
Evaluate fiscal impacts of new development on an ongoing basis, and provide appropriate mitigation strategies for projects with a negative fiscal balance.
Business Attraction and Retention
The city will need to continue to provide incentives to encourage new businesses to locate in Monterey Park, and for existing businesses to expand.
Attract new businesses to the commercial Focus Areas identified in the Land Use Element.
- Policy 2.1
Provide incentives for businesses to locate within appropriate focus areas, including infrastructure investment.
- Policy 2.2
Concentrate investment in sectors where growth is forecast in the short to mid-term. Focus efforts on retail and hospitality uses in the short term and light industrial uses subsequently.
- Policy 2.3
Create distinct identities for commercial areas using tools such as infrastructure investment and incentives.
- Policy 2.4
Actively market the Focus Areas directly to industry specific businesses and indirectly through realtors.
- Policy 2.5
Establish liaisons with staff people involved in the city's BOSS program and the Chamber of Commerce to facilitate ongoing business development intelligence and feedback.
Draw upon Monterey Park's international culture to attract international businesses.
- Policy 3.1
Develop and distribute promotional materials about Monterey Park to attract potential investors.
- Policy 3.2
Engage in promotional activities to generate international business contacts and increase networking.
Retain existing businesses that provide jobs and tax revenue.
- Policy 4.1
Explore the feasibility of providing land acquisition and write down assistance for business expansion.
- Policy 4.2
Assist existing businesses with improvements to buildings exteriors / façades.
- Policy 4.3
Provide existing businesses support services and technical assistance that facilitate access to resources.