It is a requirement of the State of California, Government Code Section 53083, to post Economic Development Subsidy Reports on the City’s website for the entire term of the subsidy. The requirement to post subsidies approved by the local jurisdiction began on or after January 1, 2014.

An Economic Development Subsidy shall mean the expenditure of any public funds or loss of revenue to a local agency in the amount of $100,000 or more, for the purpose of stimulating economic development within the jurisdiction of a local agency, including, but not limited to, bonds, grants, loans, loan guarantees, enterprise zone or empowerment zone incentives, fee waivers, land price subsidies, matching funds, tax abatements, tax exemptions, and tax credits. “Economic development subsidy” shall not include expenditures of public funds by, or loss of revenue to, the local agency for the purpose of providing housing affordable to persons and families of low or moderate income, as defined in Section 50093 of the Health and Safety Code.

The report shall include the following items:

1. The name and address of the beneficiary of the economic development subsidy.
2. The start and end dates and schedule, if applicable, for the economic development subsidy.
3. A description of the economic development subsidy, including the estimated total amount of the expenditure of public funds by, or of revenue lost to, the local agency as a result of the economic development subsidy.
4. A statement of the public purposes for the economic development subsidy.
5. Projected tax revenue to the local agency as a result of the economic development subsidy.
6. Estimated number of jobs created by the economic development subsidy, broken down by full-time, part-time, and temporary positions.

Click on the links below to the projects in Chula Vista that have or may receive a subsidy on or after January 1, 2014:

• Click here to view the Bayfront Economic Development Subsidy Report. Additional information on the financing, development and operations of the Resort Hotel and Convention Center are available here.
• Click here to view the BMW Dealership Economic Development Subsidy Report.