(A) The incentives provided for under §§ 2-14-2-1 et seq. should be utilized primarily as a small business (defined by the U.S. Small Business Administration as independent businesses having fewer than 500 employees) economic development tool that is targeted toward start-up companies, incubation of start-up companies and early stage companies, and local companies attempting to expand in Albuquerque.
(B) All costs and expenses incurred by the city in connection with the application and qualification process for community development incentives shall be paid by the applicant/business facility. Costs and expenses incurred by the city in connection with the application and qualification process shall not be liabilities of the city. Advance payments shall include payments for services rendered by city staff, services rendered by outside consultants who may be retained by the city including, but not limited to, bond counsel and other attorneys, financial advisors, appraisers, and tax consultants. If the city uses outside consultants as “staff”, such as attorneys, those consultants shall be paid their normal rate for services.
(C) This policy is adopted to provide ease of administration and the largest tax/revenue base possible. The decision to grant an economic incentive to a particular new business facility shall be a legislative enactment of the City Council and Mayor exercised in accordance with law. The city shall encourage economic development and small business support provided the fiscal impact and return on investment is positive to the city.
(D) Existing city policies for development, growth management and conservation shall remain in effect and shall not be waived or relaxed upon the qualification of a new business facility for a development incentive.
(E) The city’s consent to any development incentive shall be conditioned upon the applicant/business facility following the procedures set forth in §§ 2-14-2-1 et seq.
(Ord. 35-2004)