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with the sixty-day license renewal extension the City Council approved on March 16, 1993. <br />G <br />The limitation of fee increases to seventy-five percent (75%) of the previous year's taxes <br />will result in refunds of a portion of the 1992 business license taxes and/or credits of the <br />same towards 1993 taxes. The reductions in revenue to the City will create a financial E <br />impact on the City's operating budget; however, overall, those reductions will represent a <br />minor setback in comparison to the City's operating budget. <br />N <br />RECOMMENDATION: <br />Based on the direction of the Colton City Council and the City Manager, and based on the D <br />recommendations of the Chamber's Business License Committee, staff recommends the <br />Council adopt the attached Ordinance, amending Title 5 of the Colton Municipal Code. <br />HWG:tg A <br />Attachment V��C <br />CITY MANAGER'S CONCURRENC <br />10 <br />CITY OF COLTON <br />COMMUNITY DEVELOPMENT DEPARTMENT <br />PLANNING DIVISION E <br />0 <br />X <br />T <br />Agenda Report BUSLIC.CHP <br />Page 2 of 2 Item No. <br />