No tax incentive shall be granted to an enterprise whose application projects the creation of additional payroll of less than one hundred thousand dollars ($100,000) annually and a minimum of five employees or the retention of an entire existing payroll of less than fifty thousand dollars ($50,000). In order for an enterprise proposing to retain jobs to qualify for incentives, its entire existing payroll shall be retained for the period of the incentive granted. Failure to do so shall result in the proportionate reduction and/or the revocation of the incentive granted by the City. (Ord. 101-90. Passed 11-5-90.)