(A) The following factors, among others, shall be considered in determining whether to grant tax abatement and, if so, the percentage of value to be abated and the duration of the tax abatement:
(1) Value of land and existing improvements, if any;
(2) Type and value of proposed improvements;
(3) Productive life of proposed improvements;
(4) Number of existing jobs to be retained by proposed improvements;
(5) Number of type of new jobs to be created by proposed improvements;
(6) Amount of local payroll to be created;
(7) Whether the new jobs to be created will be filled by persons residing or projected to reside within affected taxing jurisdictions;
(8) Amount of local sales taxes to be generated directly;
(9) Amount property tax base valuation will be increased during term of abatement and after abatement, which shall include a definitive commitment that such valuation shall not be less than $1,000,000 or, if less than $1,000,000, add 50 new full-time employees;
(10) The costs to be incurred by the city to provide new facilities or services directly resulting from the new improvements;
(11) The amount of ad valorem taxes to be paid the city during the abatement period considering: the existing values; the percentage of new value abated; the abatement period; and the value after expiration of the abatement period;
(12) The population growth of the city that occurs directly as a result of new improvements;
(13) The types and values of public improvements, if any, to be made by applicant seeking abatement;
(14) Whether the proposed improvements compete with existing businesses to the detriment of the local economy;
(15) The impact on the business opportunities of existing businesses;
(16) The attraction of other new businesses to the area;
(17) The overall compatibility with the zoning ordinances and comprehensive plan for the area; and
(18) Whether the project is environmentally compatible with no negative impact on quality of life perceptions.
(B) Each eligible facility shall be reviewed on its merits utilizing the factors provided above. After such review, abatement may be denied entirely or may be granted to the extent deemed appropriate after full evaluation.
(2012 Code, § 80-38) (Ord. 071602, passed - -2007)