Discussion and possible action regarding the recommendation to City Council for the approval of a Resolution authorizing expenditures from the Economic Development Corporation funds for the purchase of water rights in the 2023/2024 EDC Budget– D. Lowder Ms. Lowder provided the following 7A-Purchase of Water Rights– The $300,000 annual purchase of water rights is a unique development incentive that Live Oak offers. Council Director Bob Tullgren made A motion to recommend a Resolution to City Coun

Staff Report & Agenda Item Details

A. Discussion and possible action regarding the recommendation to City Council for the approval of a Resolution authorizing expenditures from the Economic Development Corporation funds for the purchase of water rights in the 2023/2024 EDC Budget– D. Lowder Ms. Lowder provided the following 7A-Purchase of Water Rights– The $300,000 annual purchase of water rights is a unique development incentive that Live Oak offers. Council Director Bob Tullgren made A motion to recommend a Resolution to City Council authorizing expenditures from the Economic Development Corporation FY 2023/2024 funds not to exceed $300,000 for the purchase of water rights; seconded by Business Director Paras Arora. VOTE: Council Directors Tullgren and Cimics, and Business Directors Aurora and Kuhlmann; and Board President Dennis. PASSED 5/0

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 6.9/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).