Q&A
Addressing the impact of short-term incentives and funding stability
0:27:44
·
62 sec
The final discussion focused on the impact of short-lived incentives and steps towards more predictable funding. Key points include:
- Concern about the short-lived nature of some incentives and their impact on businesses
- Information about the energy cost savings program, which offers a 12-year savings plan
- Businesses qualifying for the program are eligible for a 45% cut on electricity and 35% on gas
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The savings taper after the 8th year of the program
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The discussion highlighted the need for long-term, stable incentive programs to support industrial businesses effectively.
Amanda Farías
0:27:44
And then how do you folks address the impact of the short lived nature of some of these incentives, and what steps are being taken to create, maybe, more predictable funding
Kitty Chan
0:28:00
savings program is actually a 12 year savings program.
0:28:05
The businesses that qualify are eligible for 45%, cut on their, electric and, 35% on their gas.
0:28:16
This is for for 12 years.
0:28:18
It tapers towards the end of, after year 8, I believe.
Amanda Farías
0:28:25
Okay.
0:28:36
Okay.
0:28:37
I'm gonna pause for my colleagues to ask some questions and get back into mine.
0:28:41
I'll call on council member Vernicoff first and followed by council member Vavilas.
