§ 1215. POLICY FOR COMPREHENSIVE REVIEW OF APPLICATIONS FOR CITY FINANCIAL ASSISTANCE.

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The Council shall establish a policy regarding the procedures and scope for conducting a due diligence process for any proposed project that includes a request for direct or indirect financial assistance, including extensions(s) or renewals(s) of assistance, but excluding City requests for proposal(s), that exceeds one million dollars ($1,000,000). The due diligence process shall include any material financial, legal, business, legislative, and regulatory issues associated with the proposed project. Any amendments to the policy describing this due diligence process or approval of a proposed project that requires this due diligence process shall require an affirmative vote of at least five members of the Council.

(Amendment ratified 2012 General Municipal Election, 11-6-12.)

                    
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