745.43 PURPOSE OF GRANTING TAX CREDITS FOR NEW AND EXPANDED BUSINESSES.

   The general purpose and objective of Sections 745.42 through 745.52 which involve the

granting of tax credits for new and expanded businesses and annexed businesses is to encourage business development within the corporate limits of the City, including but not limited to the following in the following designated areas:

   (a)    Central Business District - greater retail and service oriented uses;

   (b)    Glen Elk I - greater retail and commercial uses;

   (c)    Glen Elk II & Montpelier Addition Commercial Area-greater commercial light industrial uses;

   (d)    Business & Technology Centre - greater light industrial uses which create new jobs.

   (e)    Heavy Industrial (I2) Zones - commercial uses which create jobs;

   (f)    Tolley Drive District - greater retail and commercial uses; and

   (g)   Annexed areas - to increase City's tax base.

      (Ord. 22-3. Passed 2-17-22.)