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Local Economic Stimulus Package

Visalia Announces Fee Reduction Stimulus Program

 The City of Visalia has reduced the cost of doing business in an effort to support new home construction and commercial and industrial development that leads to job creation.

 The plan was developed under the direction of the Visalia City Council, and approved in June.

 Plan highlights:

• 15% reduction in fees related to transportation impact, park and waterways acquisition fees;

• 25% reduction in Transportation Impact Fees for Downtown Visalia;

• Rebate of Transient Occupancy Taxes to organizations that bring large events to Visalia (1,000 room nights) before Dec. 31, 2011.

• Transportation Fee credit for qualifying infill projects;

• New tiered fee structure for gas station Transportation Impact Fees that “recognizes” pass-by trips and underutilized gas pumps during non-peak hours;

•  5-year financing of fees for commercial projects that have fees in excess of $10,000 and are completed by Dec. 31, 2011;

• Deferral of impact fees until close of escrow or Dec. 31, 2011, whichever comes first, for projects with fees greater than $10,000;

 “Visalia is a great place to do business but we know that these are very difficult times,” noted Mayor Bob Link. “With this program in place, we hope to show business and industry that Visalia is serious about being a pro-business community. We’re rolling out the welcome mat by helping businesses save money.”

 For information, call Nancy Lockwood of the Visalia Economic Development Corporation, 559-733-3737 or Glenn Morris of the Visalia Chamber of Commerce, 559-734-5876.

 For Immediate Release

 A Stimulus Plan that Works

 Stimulus Package Overview

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