SUMMARY OF THE PROPOSED INITIATIVE: 

This ordinance requires that all citizen initiative applications include a detailed economic impact Study Report (EISR). The report must analyze how the proposed measure would affect Sitka's economy, including municipal finances, employment, businesses, and impacts across different income and demographic groups. It must cover specific topics such as fiscal impact, revenue analysis, employment effects, private sector implications, and economic distribution - each with projections for one, five, and ten years. The EISR must be prepared by qualified professionals who hold advanced degrees, have relevant experience, and are independent from the initiative's sponsors. All costs associated with the report are the responsibility of the sponsors. The Municipal Clerk shall reject any application that does not include a complete and compliant EISR. A copy of the EISR must be made available to the public at the Municipal Clerk's Office, and it must also be included in the petition booklets issued by the Municipal Clerk. The ordinance contains a severability clause to preserve the remaining provisions if any part is invalidated. lt takes effect on the thirtieth calendar day following certification of the election in which the initiative is approved by voters.