For the purpose of this subchapter, the following definitions shall apply unless the context indicates or requires a different meaning.
ECONOMIC DEVELOPMENT PROJECT. The provision of direct or indirect land, buildings, or other infrastructure, or public works improvements essential to the location, and include the purchase, lease, grant, or construction, reconstruction, improvement, or other acquisition or conveyance of expansion of a qualifying business, and payments for professional services contracts necessary for local or regional governments to implement a plan or project.
GOVERNING BODY. The Town Council of Clayton.
PROJECT PARTICIPATION AGREEMENT. An agreement between a qualifying entity and the town whereby the town provides assistance to an economic development project in exchange for the benefits received as set forth in this section.
QUALIFYING ENTITY. An existing or proposed corporation, limited liability company, partnership, joint venture, syndicate, association, or other person or entity that is one or combination of one or more of the following:
(1) An industry for manufacturing, processing, or assembling of any agricultural or manufactured products;
(2) A commercial enterprise for storing, warehousing, distributing, or selling products of agriculture, mining or industry, but other than provided in division (4) of this definition, not including any enterprise for sale of goods or commodities at retail or for the distribution to the public of electricity, gas, water, or telephone or other services commonly classified as public utilities;
(3) A business in which all or part of the activities of the business involves the supplying of services to the general public or to government agencies or to a specific industry or customer, but, other than provided in division (4) of this definition, not including business primarily engaged in the sale of goods or commodities at retail;
(4) A telecommunications sales enterprise that makes the majority of its sales to persons outside of New Mexico; and
(5) A cultural facility means a facility that is owned by the state, a county, a municipality or a qualifying entity that serves the public through preserving, educating, and promoting the arts and culture of a particular locale, including theaters, museums, libraries, galleries, cultural compounds, educational organizations, performing arts venues and organizations, studios and media laboratories, and livework housing facilities.
(Ord. 690, passed 3-13-2013)